Hanjin opposed Ashley Furniture’s motion for a freeze on the amounts it owes the carrier, along with a reduction in the amounts owed, saying in a court filing that if the motion was granted, its ability to reorganize would have been severely jeopardized.
The U.S. District Bankruptcy Court in Newark, N.J. will hear from companies today that said Hanjin is not “promptly” informing creditors when ships go off charter.
Thomson Reuters global trade management business, ONESOURCE Global Trade, conducted its second annual Global Trade Survey, shedding light on trends and challenges faced by trade experts and multinationals alike.
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The United States’ largest independent marine terminal operator and stevedore company, Ports America, has merged its breakbulk operations at the Port of Houston with Cooper/T. Smith, forming a new joint venture called Cooper/Ports America, LLC.
Following the recent collapse of Hanjin Shipping, “there will be a wave of consolidation” in the industry and CMA CGM could participate even after its recent purchase of APL parent Neptune Orient Lines, according to vice chairman Rodolphe Saadé.
At 11:00 a.m. EST Thursday, the National Hurricane Center said the Category 4 hurricane was 25 miles west/northwest of Nassau Bahamas and about 180 miles southeast of West Palm Beach, Fla.