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Combined with the sweeping Trans-Pacific Partnership free trade agreement signed last month, the Chinese policy could help "ignite new trade," according to Federal Maritime Commissioner Richard A. Lidinsky.
Neptune Orient Lines, parent of liner company APL, has confirmed it has entered into talks with CMA CGM and Maersk about a potential sale, while COSCO and China Shipping told FMC Commisioner William Doyle they are in the "beginning stages of a merger."
Chinese carriers COSCO and China Shipping told the Federal Maritime Commission they are in the beginning stages of a merger, while Bloomberg reported CMA CGM has entered into talks to buy APL parent Neptune Orient Lines.
The U.S. Gulf port also expects to benefit from continuing population migration to Texas and the expansion of Panama Canal, which is scheduled to be completed in April 2016.
Meanwhile, a Federal Aviation Administration task force released its recommendations regarding a registration program for unmanned aircraft systems that will affect the use of drones in both commercial and recreational settings.
Box volumes at the largest U.S. East Coast port were up 11 percent year-over-year in October, driven primarily by a 9.8 percent spike in loaded import containers.