Chinese conglomerate HNA Holding Group Co. offered to purchase CWT Ltd. for 1.4 billion Singapore dollars (U.S. $995 million).

However, U.S. lamb export volumes tumbled 41.3 percent in February from a year prior.

Michael Khouri, acting chairman of the Federal Maritime Commission, said such pacts can help terminals improve service and operations to benefit the American shipper and consumer.

House Reps. Mike Kelly, R-Pa., and Peter DeFazio, D-Ore., have introduced bipartisan legislation that would increase investments in harbor and port projects by 29 percent from current funding levels without raising user fees or taxes.

Since last week, the Shanghai Containerized Freight Index fell on trades from Shanghai to Europe, the Mediterranean and the United States.

The Kempton, Germany-based global logistics provider’s revenues for fiscal year 2016 totaled 5.71 billion euros, a 1.7 percent year-over-year increase.

The Port of Oakland saw import cargo volumes rise 19 percent year-over-year in March.

U.S. shippers should not underestimate the power the nation’s longshore unions hold over the flow of containerized cargo, said Chris Gillis, editor at American Shipper.

The debut of “THE” Alliance and the OCEAN Alliance caused a rise in capacity on the transpacific trade, according to the latest quarterly World Liner Supply Report from BlueWater Reporting.

Overall losses in the maritime industry fell during the year, but increased cargo accumulation risk onboard vessels and in port continued to challenge insurance providers, according to a report from the International Union of Marine Insurance.