The independent containership owner and manager purchased the vessels for $195.6 million.
The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
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The parcel carrier has agreed to pay $240 million to settle lawsuits covering around 13,000 divers across 20 states who claimed they should have been treated as employees instead of independent contractors.
American Shipper recently visited the global headquarters of C.H. Robinson’s managed transportation services subsidiary in Chicago to get a first hand look at the company's transportation control tower, which shows how a managed TMS works in practice.
Pacific Maritime Association President and CEO James McKenna said he expects to hear from International Longshore and Warehouse Union this summer on whether it wants to discuss the extension of the five-year labor contract.