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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IAG Cargo names new chief executive, while Trans Global Projects Group hires chief executive officer of Natco Switzerland subsidiary.
Lineage Logistics names senior vice president of Sales & Value-Added Services, Transervice Logistics appoints director of sales for the company’s western regional division, and The Tioga Group hires senior associate.
Federal Maritime Commissioner Mario Cordero will be appointed executive director of the Port of Long Beach, where he served as a harbor commissioner from 2003 to 2011.