South Korean shipyards exited the business of making cranes a decade ago because of stiff compeitition from Chinese makers.
The nationwide trucker and third-party logistics provider said it hopes to raise between $281 million and $359 million with the initial public offering, and provided details on how it plans to use the proceeds.
Trucking industry executives visited the White House Thursday afternoon to talk about issues that affect their businesses.
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The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
Marilee McInnis, director of international corporate affairs at Walmart, said although the retailer no longer does business with Hanjin due to the carrier’s bankruptcy, it is currently speaking with another Korean carrier regarding its shipping needs.
In addition, Hong Kong-based Orient Overseas Container Line is scheduled to receive a series of 20,000-TEU ships later this year.