The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.

Dubai-based DP World Ltd. raised $1.2 billion from the sale of Islamic bonds and said a tender offer to buy back securities received 48 percent more bids than the target.

South Korean ocean carrier Hanjin asked Seaspan and others for a reduction in existing charter rates for a period of three and a half years in exchange for securities in a restructured Hanjin.

Peter Friedmann accused container lines of bungling the International Maritime Organization’s new container weight verification requirement, and said some now realize they face high internal costs unless they offer a more flexible approach.

The third-party logistics provider has partnered with Jinbei Automotive to build a 42,000-square-meter facility in the Shenyang Tiexi district of northeast China, the DB Schenker’s second largest logistics center in the country.

The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.

The Russian cargo airline launched its new Houston-Abu Dhabi freight service this week.

A total of 221 cargo theft incidents were reported in the United States during first quarter 2016, up 8 percent from the same 2015 period, but average loss value per incident fell 56 percent, according to the latest report from FreightWatch International.

Global container shipping lines will face one or two more years of pain as the industry consolidates amid overcapacity and weaker demand, Port of Long Beach CEO Jon Slangerup said.

The Jacksonville, Fla.-based liner carrier awarded a $21 million construction contract to Del Valle Group, S.P. of Toa Baja, Puerto Rico to upgrade its Isla Grande Terminal in San Juan.