Florida East Coast Railway Holdings Corp. will be acquired by GMéxico Transportes S.A. de C.V. in an all cash transaction.
The Atlanta-based parcel giant added four stations in China, and one station each in Poland and Germany to its full and less-than-container load multi-modal rail service between Europe and China.
The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
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The ocean shipping electronic marketplace has paid an undisclosed sum for Avantida, a cloud-based provider of solutions, to better manage empty containers.
Ocean carriers entering the market in 2010 and 2011 had a tough time, but SM Line said it believes it is timing its entrance into the transpacific market well, noting how freight rates are improving.
With capacity in the ocean carrier industry continuing to outstrip demand levels, many are left wondering what carrier is next in line for a merger or acquisition.