The German ocean carrier’s shareholders of Friday approved all items on the agenda for the annual meeting, most notably including the approval of new authorized share capital, which will be used toward the merger with UASC.
The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
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Ninety-five percent of hides produced in the United States are shipped in containers to leather producers, primarily in the Far East, but also other countries around the world.
The American Association of Port Authorities is concerned that local agencies with no nexus to ports are taking advantage of a federal program designed to help ports pay for security needs.
The nationwide lease-to-own company started using Cloud Logistics' transportation management system over a year ago due to its network complexity, and has reaped the benefits of reporting tools and faster tendering.