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.
Although activity slowed in the first quarter, total deal value for mergers and acquisitions in the transportation and logistics sector was still up 26 percent compared to first quarter 2015, according to a new report from PricewaterhouseCoopers.
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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.
Meanwhile, the European Commission Competition Directorate has set a “provisional deadline” for a decision on CMA CGM's purchase of APL parent Neptune Orient Lines for this Friday, April 29.
Norwegian shipping company DSD Shipping has been sentenced to pay a $2.5 million fine resulting from convictions in Mobile, Ala., for dumping oily waste and garbage into the sea, according to the U.S. Justice Department.