Third-party logistics provider the Rhenus Group has acquired a 40 percent shareholding in ocean vessel owner and manager ARKON Shipping GmbH & Co., according to a joint statement from the companies.
U.S. District Court Judge Katherine Forrest found the parcel giant and third-party logistics provider violated state law by transporting hundreds of thousands of cartons of untaxed cigarettes into New York City from lower-tax areas.
The ranking member of the House Transportation and Infrastructure Committee, introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
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The Danish ocean carrier’s plan to acquire Hamburg Süd in 2017 caps a landmark year for consolidation in the container shipping industry, noted Mario Cordero, the chairman of the Federal Maritime Commission.
The South Korean liner carrier’s bankruptcy, which resulted in hundreds of thousands of shipments around the world being delayed, was the biggest in the container shipping industry since the 1986 bankruptcy of U.S. Lines.
The Israeli container carrier told American Shipper Friday it is rejecting the rumor that it has intentions to sell its global shipping operations to instead become a regional Mediterranean carrier.