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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The Dubai-based operator will own 55 percent of a new vehicle targeting port and terminal investment opportunities outside of the United Arab Emirates, while Canadian pension fund Caisse de dépôt et placement du Québec will hold the other 45 percent.
The German ocean carrier’s employees demonstrated Friday in Hamburg, seeking job protection in the wake of the announcement that the company will be acquired by Maersk Line.
The Pacific Northwest port has filed a lawsuit in U.S. District Court in Oregon, alleging agrochemical manufacturer Monsanto was aware of the danger posed by polychlorinated biphenyl prior to a federal government ban in 1979.