The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.
The S.C. Ports Authority banks on profit-making strategy to finance infrastructure at Charleston and elsewhere.
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The South Korean ocean carrier said it will work with lenders to restructure debt after years of weak demand resulted in losses and cash erosion.
The project will enable third-party logistics provider SEKO to expedite the availability of rates, improve their accuracy since prices are coming directly from UASC in CargoSphere’s cloud-based platform, and reduce staff hours in the process.
The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.