Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.
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 transportation and logistics provider’s net income dropped 41 percent to $18.9 million compared with third quarter 2015 after a similar 43 percent year-over-year decline the previous quarter, according to the company’s most recent financial statements.
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Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.
The Oakland International Container Terminal decided to make night gates permanent, financed through a $30 fee on all loaded import and export containers through the port.
The Eden Prairie, Minn.-based third-party logistics provider has added Oceania as a new region to its Global Forwarding division, thanks to the company’s acquisition of Melbourne-based APC Logistics.