Prior to going bankrupt, Hanjin Shipping had chartered five, 3,400-TEU vessels and eight, 10,100-TEU vessels from Danaos.
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.”
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
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Danish shipping company Maersk Line and Chinese e-commerce marketplace Alibaba teamed up to provide sellers direct bookings with the container line, marking another development in the rapidly changing ocean freight procurement space.
What has been accepted as standard practice for decades - large shippers cementing big volume annual contracts with carriers and smaller shippers, forwarders and NVOs picking up the scraps on the spot market - is now being heavily scrutinized.
The Jacksonville, Fla.-based Class I railroad has entered into discussions with outgoing Canadian Pacific Railway chief executive officer E. Hunter Harrison, according to a report from the Wall Street Journal.