Ocean carriers Maersk Line, MSC, CMA CGM, Hapag-Lloyd and OOCL announced new freight rates on various trades.

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.

Danish ocean carrier Maersk Line said there is now consideration of “other cooperation possibilities,” while Hyundai Merchant Marine of South Korea said it expects a “formal agreement either in the end of November or early December.”

The board of directors of Omaha, Neb.-based Class I railroad Union Pacific has authorized the early repurchase of up to 120 million common shares by Dec. 31, 2020, approximately 15 percent of current outstanding stock.

The North Florida port’s new Intermodal Container Transfer Facility provides rail service to the Blount Island Marine Terminal and TraPac Container Terminal at Dames Point, connecting the terminals with Class I railway CSX’s main line.

The U.S. Federal Maritime Commission has received 34 ocean transportation intermediary license applications and changes for review.

Redwood Logistics appoints chief logistics officer, while INTERTANKO elects chairman for another two years.

The joint container venture between Japan’s ‘Big 3’ will have a fleet capacity of 1.38 million TEUs, making it the sixth largest in the world, and when their 23 new ships are delivered, the merged operation will become the fifth largest carrier.

The $10 million acquisition is expected to close early next year and will substantially expand the port.

Port of Los Angeles Executive Director Gene Seroka said the system will enable supply chain partners to receive a ship’s cargo information well in advance of arrival.