The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
Over 50 percent of respondents said their business would be impacted by a vote for the United Kingdom to leave the EU, but just 18.4 percent had a plan in place in the event of a Brexit, according to a recent survey conducted by Logistics Manager.
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A sense of what the container shipping industry may look like a year from now has started to emerge as ocean carriers seek to avoid a financial wreck from overcapacity and low freight rates.
The parcel carrier has agreed to pay $240 million to settle lawsuits covering around 13,000 divers across 20 states who claimed they should have been treated as employees instead of independent contractors.
A combination of businesses between United Arab Shipping Co., which is jointly owned by the governments of six wealthy Middle Eastern nations, and Hapag-Lloyd of Germany has "strategic value," and talks will continue, the ocean carrier said in a statement.