FASA

The construction of a wide access channel to Port Said East, which will permit uninterrupted vessel traffic to the Suez Canal Container Terminal, officially received approval last week.

Saverco NV on Tuesday will enter the final takeover phase of the outstanding shares of Antwerp-based vessel and aircraft operator CMB.

Boston Consulting Group’s “xChange” service is already being tested by a majority of top 20 global ocean container carriers and leasing companies, according to a statement from the company.

Eight of the 19 crew members on board the Fortune Life were rescued as the ship sank in the South China Sea on Friday, and the Philippine Coast Guard continues to search for survivors of the wreck, according to news outlet Splash 24/7.

The manufacturer opened an 11,000-square-meter plant in Jiangyin, China, which will serve Asia, the Middle East and the United States West Coast.

Ocean carriers Maersk Line and CMA CGM issued general rate increases.

Port of Stockton names marketing manager and the Hong Kong Shipowners Association elects officers, while APEC reappoints secretariat executive director and Cargotec names IT VP.

The Federal Motor Carrier Safety Administration says a new rule will allow it to crack down on companies that force drivers to violate safety regulations in order to make on-time deliveries or otherwise avoid compliance costs.