The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
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.
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The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Total deal value and volume in the transportation and logistics industry in third quarter 2016 fell 30 percent and 11 percent, respectively, from the previous quarter, according to a new report from PricewaterhouseCoopers.
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.