The state Board of Public Works gave the Maryland Port Administration the go ahead to spend up to $92.5 million to acquire a 103-acre parcel at Point Breeze for Port of Baltimore’s Seagirt Marine Terminal, a spokesperson for the MPA confirmed Friday.
The U.S. maritime regulator has received four ocean transportation intermediary license applications and changes for review.
The U.S. Justice Department said Friday that 11 individuals and one foreign company have been charged by the Treasury Department for their role in illegally exporting goods to Syrian Arab Airlines.
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The South Korean liner carrier’s bankruptcy, which resulted in hundreds of thousands of shipments around the world being delayed, was the biggest in the container shipping industry since the 1986 bankruptcy of U.S. Lines.
Despite mergers and acquisitions, the industry is still plagued by overcapacity, and cost for new entrants is low.
Hyundai Merchant Marine said it expects to receive funding from a new South Korean government shipping entity, which will buy and charter back vessels to the shipping company.