COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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Starting next week, the terminal will be the first of six facilities within the Port of New York and New Jersey to roll out the port authority's new Truck Management System.
Under the agreement, COSCO Beijing International Freight Co., Ltd. is gaining the use of Sino-Global's logistics platform to arrange for the transport of its container shipments to U.S. ports.
The U.S. Court of Appeals for the 7th Circuit denied the Owner-Operator Independent Drivers Association’s rehearing request against the Federal Motor Carrier Safety Administration’s mandate to electronically track commercial truck drivers.