However, the global port operator increased container throughput by 5.5 percent from 2015.
Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.
Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
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A spokesperson from Hyundai Merchant Marine (HMM) told American Shipper the loop is expected to commence April 2 from Laem Chabang, operating with seven, 6,800-TEU vessels supplied by HMM.
Several months after filing for court receivership in its native South Korea, former seventh-largest container carrier Hanjin Shipping has officially been declared bankrupt, according to a report from Reuters news service.
The World Shipping Council has warned of unintended consequences that would be detrimental to shippers if a rule was adopted that would limit situations in which detention and demurrage may be collected.