The United Kingdom's vote to leave the European Union last week could have implications for the Transatlantic Trade and Investment Partnership between the U.S. and EU, as well as the Trans-Pacific Partnership, according to experts at the Stimson Center.
The struggling South Korean shipping line plans to return 20 containerships and 18 bulk vessels when their charters expire this year and next as the latest step in its cost cutting and restructuring efforts.
A collection of maritime industry groups on Monday released a revised set of frequently asked questions to support smooth implementation of the container weight rule scheduled to take effect Friday.
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Recently purchased APL parent Neptune Orient Lines couldn’t cut costs fast enough to compete in an increasingly commoditized market, chief executive Ng Yat Chung said in a surprisingly candid interview with Singapore’s Straits Times.
As a result of a 7-to-1 share reduction for Hyundai Elevator, Hyundai Global and Hyundai Group Chairman Hyun Jeon-Eun, the Korea Development Bank will become the largest shareholder of struggling South Korean ocean carrier Hyundai Merchant Marine.
The accumulation of high value cargo will increase as bigger ships gather for passage through the newly expanded Central American waterway, increasing insurance risk, according to a new report from Allianz Global Corporate & Specialty.