Japanese financial services firm Orix Corp. said the company decided to increase its exposure to shipping industry debt because it sees the “current market conditions as a favorable investment opportunity,” according to a report from Reuters.
The trucking technology provider said the new product offers rating solutions based on dimensional weight, modeled on Mexico-to-Mexico postal codes and delivered in Mexican pesos.
Total deal value and volume in the transportation and logistics industry for the full year in 2016 fell 31 percent and 6 percent, respectively, from the previous year, according to a new report from PricewaterhouseCoopers.
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Fellow Japanese ocean carrier “K” Line exited the Transpacific Stabilization Agreement Aug. 19, while MOL, the other major ocean carrier based out of Japan, left the group in 2008.
The transportation and logistics industry has experienced a notable year between Hanjin’s bankruptcy, the new verified gross mass regulation and the expanded Panama Canal.
The U.S. maritime regulator granted the five-member ocean carrier alliance approval to take effect Dec. 19.