CARM: What all importers need to know about CARM

Universal Logistics - Take The Right Route Logo with 70 Years Badge

Merger leads to formation of world’s third largest container line

COSCO Shipping Holdings has joined forces with Shanghai International Port Group (SIPG) to purchase Orient Overseas International Ltd. (OOIL), the world’s seventh largest container line.

The merged company will become the world’s third-largest container line, with a market share of 11.5% and total capacity of 2.42m TEU.

OOIL will continue to keep their shipping subsidiary OOCL liner brand, along with its headquarters in Hong Kong.

This merger is just the latest in a series of consolidations that has left the top six shipping lines controlling 63 percent of the market.

If you have any questions concerning shipments booked with Universal Logistics and how they may be impacted by the above, please call (905) 882-4880, ext. 308 – Debbie McGuire, Manager – Freight Solutions.

More Trade Alerts:

April 2024

April 19, 2024
The following message was issued by the Canadian International Freight Forwarders Association (CIFFA) on Friday, April 19, 2024: BCMEA/Local 514 Bargaining Update – 21-Day Cooling-Off…

April 2024

April 10, 2024
Members of the Public Service Alliance of Canada (PSAC) and the Customs and Immigration Union (CIU) employed by the Canada Border Services Agency (CBSA) will…

Switch to a Logistics
Partner Who Cares

Click the button below to find out why we’ve been Canada’s most trusted freight forwarder and customs broker for over 75 years.

Professional business people team meeting and working in corporate office concept

Register now to learn more about our

101 Logistics Quick Tips

Available exclusively from Universal Logistics