Hapag-Llyod, Germany's biggest container shipping company, is teaming up with five Asian carriers. The new vessel-sharing group says its forming an alliance to take on bigger rivals. The current glut in capacity is driving freight rates down.
The South Korean electronics giant is seeking a US court order to unload goods worth millions of dollars from Hanjin vessels moored near US ports after the world's seventh-largest container carrier filed for bankruptcy.
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