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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However, the Federal Aviation Administration said it will no longer require U.S. airlines to make pre-boarding notifications to passengers that the fire-prone Samsung Galaxy Note7 mobile phones are prohibited on board all aircraft.
Bellevue, Wash.-based Radiant Logistics has entered into a letter agreement, by which, through its wholly-owned subsidiary, Wheels International Inc., it has expressed its intent to acquire Lomas Logistics.
Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.