Global airfreight demand grew at its fastest pace in 18 months thanks primarily to the August bankruptcy announcement by South Korean ocean carrier Hanjin Shipping, as well as some last-minute shipping resulting from higher-than-expected order levels.
The four-year contract is scheduled to take effect on Dec. 19 and includes an initial increase in base wages for Captains and First Officers of more than 55 to 75 percent, with additional yearly wages.
The Rhode Island Department of Transportation is asking for proposals from firms to design, build, operate and maintain electronic tolling facilities for the state's truck-only tolling program, which has been met with protests from industry organizations.
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Electronics manufacturer Samsung said in court filings that "cargo owners are being held hostage," while Maher Terminals said it "is not required to extend free credit to Hanjin, and should not be forced to."
However, individual terminals at the ports of Los Angeles and Long Beach will negotiate directly with chassis leasing companies over compensation for storing chassis and providing services to lessors.
Japanese container carrier Kawasaki Kisen Kaisha could be targeted by Singapore-based hedge fund Effissimo, the firm’s largest shareholder as of early August, according to recent media reports.