Hanjin opposed Ashley Furniture’s motion for a freeze on the amounts it owes the carrier, along with a reduction in the amounts owed, saying in a court filing that if the motion was granted, its ability to reorganize would have been severely jeopardized.
The U.S. District Bankruptcy Court in Newark, N.J. will hear from companies today that said Hanjin is not “promptly” informing creditors when ships go off charter.
Thomson Reuters global trade management business, ONESOURCE Global Trade, conducted its second annual Global Trade Survey, shedding light on trends and challenges faced by trade experts and multinationals alike.
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The South Atlantic port handled 330,846 TEUs in August, up 5 percent from August 2015 and port officials anticipate more container business in the coming years due to GPA’s “Mid-American Arc” initiative.
The Port of Montreal has plans for a new terminal in Contrecoeur, while DP World signed a lease in July to expand and operate the Rodney container terminal in Saint John, and new container terminals are proposed in Melford and Sydney.
The San Francisco-based freight forwarder, which has now raised a total of $94 million to fund global expansion, said it is constructing a new operating system for global trade that will unite the world in a seamless web of commerce.