The Chinese Ministry of Commerce on Friday unconditionally approved FedEx's $4.8 billion acquisition play for Netherlands-based global package delivery firm TNT Express.
The Shanghai Containerized Freight Index rose from a reading of 457.70 last week to a reading of 603.64 this week, as rates from Shanghai to North Europe and the Mediterranean posted sharp increases.
The container terminal operator posted a cargo throughout of 15.5 million TEUs at its container terminals in the first quarter of 2016, a 2.4 percent increase from the same 2015 period on a like-for-like basis.
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Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
Meanwhile, the U.S. Federal Maritime Commission is calling for carriers and shippers to work together to find a solution so exports are not left on the docks for lack of verified gross mass documentation come July 1.
The House subcommittee on Coast Guard and Maritime Transportation will hear testimony on April 14 about the International Maritime Organization's controversial verified gross mass requirement, which goes into effect July 1.