The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
The third-party logistics provider has partnered with Jinbei Automotive to build a 42,000-square-meter facility in the Shenyang Tiexi district of northeast China, the DB Schenker’s second largest logistics center in the country.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.
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Federal Maritime Commission Mario Cordero said Wednesday the agency has not yet received a formal filing by the container carriers that plan to establish the new OCEAN Alliance.
The Jones Act carrier saw volumes on its single eastbound transpacific string from China drop 18.1 percent in the first quarter 2016 compared with the same 2015 period.
One year after ports were snarled during ILWU contract negotiations, FMC has yet to receive complaint or petition.