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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Starting in April, Hamburg Süd's cargo will be shipped on vessels in the 2M network, a carrier alliance consisting of Maersk Line and MSC.
The new president immediately put the world on notice that his administration will combat unfair trade practices, which many interpret as a return to protectionism.
The world’s second largest container carrier, Geneva, Switzerland-based Mediterranean Shipping Company, may acquire a stake in Ignazio Messina & Co.