The approximate $113 million acquisition of Rickmers Maritime Trust’s entire fleet of 14 Panamax-sized containerships will triple Navios Maritime Partners’ containership fleet.
Trading of shares in troubled Taiwanese ocean carrier Yang Ming have been suspended on the Taiwan Stock Exchange until at least May 4 as the firm prepares to reduce its equity capital by over 50 percent, according to multiple media reports.
The truckload transportation and logistics provider’s net income for the quarter tumbled 20.3 percent to $16 million compared with the same 2016 period even as revenues grew 3.8 percent to just over $501.2 million.
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The two ports says the plan is an "innovative collaboration that will allow us to find new ways to become more efficient and effective."
Throughput of loaded containers at the Northern California port grew 6.1 percent in January 2017 compared with the same month a year ago, while overall volumes including empties grew 3 percent from 2016 levels.
The $320 million project at the Virginia International Gateway container terminal has officially launched, and a $350 million expansion project at Norfolk International Terminals will begin in July.