The approximate $113 million acquisition of Rickmers Maritime Trust’s entire fleet of 14 Panamax-sized containerships will triple Navios Maritime Partners’ containership fleet.
Trading of shares in troubled Taiwanese ocean carrier Yang Ming have been suspended on the Taiwan Stock Exchange until at least May 4 as the firm prepares to reduce its equity capital by over 50 percent, according to multiple media reports.
The truckload transportation and logistics provider’s net income for the quarter tumbled 20.3 percent to $16 million compared with the same 2016 period even as revenues grew 3.8 percent to just over $501.2 million.
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House members question whether the Shipping Act should be revised, and also said there is a need to protect domestic tugboat and terminal companies.
American Shipper has launched a short survey to collect feedback on how the industry expects to be affected by the new ocean carrier alliances that launched at the beginning of the month.
The German ocean carrier is citing benefits from its planned merger with United Arab Shipping Company, but Reuters has reported a "snag" in those plans.