The commission said it has “reasonable grounds” to suspect the carriers engaged in collusive practices to fix incremental cargo rates from Asia to South Africa.
The terminal’s two berths became available earlier in 2016 when a lease with a bulk cargo operator ended, and although the port is mainly interested in responses to import/export bulk cargo, it will consider opportunities for other marine-dependent uses.
Newton Square, Pa.-based Sunoco Logistics Partners L.P. reached an agreement to purchase Vitol Group’s integrated crude oil business in West Texas for approximately $760 million plus working capital.
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Third-party logistics providers like Expeditors International of Washington have traditionally benefitted from disruptions in direct shipper/carrier relationships, according to a recent client note from William Blair Equity Research.
The International Longshoremen's Association has reversed an earlier decision, and agreed to once again work ships operated by the now insolvent South Korean ocean carrier.
The President of South Korea, Park Geun-hye, said corporate responsibility and moral hazards are creating adverse effects on its national economy and the government will not blindly support companies in financial trouble.