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.
Bigger vessels that can fit through the expanded section of the Panama Canal represent a small portion of the total traffic so far, but the new locks have only been open for less than four months.
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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."
The now insolvent South Korean ocean carrier released a status update Monday on the 97 vessels it operates, which illustrated that 59 of these vessels are still waiting in open sea.
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.