Third-party logistics provider the Rhenus Group has acquired a 40 percent shareholding in ocean vessel owner and manager ARKON Shipping GmbH & Co., according to a joint statement from the companies.
The sanctions, pursuant to the Iran, North Korea, and Syria Nonproliferation Act, will remain in place for two years.
U.S. District Court Judge Katherine Forrest found the parcel giant and third-party logistics provider violated state law by transporting hundreds of thousands of cartons of untaxed cigarettes into New York City from lower-tax areas.
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The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
In addition, Hong Kong-based Orient Overseas Container Line is scheduled to receive a series of 20,000-TEU ships later this year.
With just a few months before the new ocean carrier vessel sharing agreement THE Alliance, of which Yang Ming is a member, is set to launch, work still needs to be done to finalize port rotations and vessel deployment plans.