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.
DP World raises $1.2b from sale of Islamic bonds
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.
Seaspan rejects Hanjin’s request for charter rate reduction
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.
Ocean liner cohesion on VGM could crack soon, AgTC chief claims
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.
DB Schenker JV to open automotive logistics center in China
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.
ATA: Truck tonnage index slips again in April
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.
AirBridgeCargo commences Houston-Abu Dhabi service
The Russian cargo airline launched its new Houston-Abu Dhabi freight service this week.
CAN RETAIL SHARING WORK FOR YOUR STORE? TWO CASE STUDIES
Consumers have roommates, why shouldn’t retailers? Two fashion boutiques—one in Brooklyn and one on Long Island—discuss how they each utilize retail sharing. The concept of retail sharing (also known as co-retailing) is catching on in the fashion world, both as a way to split expenses, play off each other’s strengths, …
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CHARMING CHARLIE OPENS FIRST STORE IN OMAN
Retail accessories chain Charming Charlie continues its Middle East expansion. The company announced the brand’s first location in the country of Oman at the Muscat Grand Mall. The 2,900 square foot store is operated by Apparel Group, Charming Charlie’s international licensing partner, which has further growth planned for the brand …
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HAT PROMISES PROTECTION FROM ZIKA VIRUS
This is an item sure to get everyone buzzing… As the Zika virus continues to spread, steal news headlines and cause CDC concern, mosquitoes are emerging as Enemy #1. While slathering on insect repellent is one option, hat company Dorfman Pacific offers a more fashionable one. The company has expanded …
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