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 recent announcement on Japan’s three major ocean carriers - MOL, NYK Line and “K” Line - merging container operations has left the industry wondering if more consolidation is to come.
President Donald Trump threatens to impose a tax of up to 20 percent on Mexican imports as part of a plan to construct a wall between Mexico and the United States.
Drewry’s investment research arm said it believes CMA CGM of France is best positioned among the major carriers to be a perfect suitor for Orient Overseas (International) Limited, the parent company of Hong Kong-Based OOCL.