The Danish liner carrier has resumed service to Iran after a five-year absence and just a year and a half after the Maersk Tigris was fired upon by the Iran Revolutionary Guard Corps Navy.
Roberto Azevêdo, the head of the World Trade Organization, warned that the benefits of international trade are increasingly getting lost among the incessant anti-trade rhetoric that’s being espoused worldwide.
Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.
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Patrik Berglund, chief executive officer of Oslo-based ocean freight rate intelligence platform Xeneta, said Hanjin Shipping’s insolvency has “turned the market on its head,” but the real question is “how long will this last?”
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.
The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.