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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DHL Supply Chain will acquire Polar Transportes, which provides transportation services to the Life Sciences and Healthcare industry in Brazil.
The appointment of outgoing Canadian Pacific Chief Executive E. Hunter Harrison as CEO of Class I railroad CSX is still contingent on a shareholder vote over $84 million in benefits and equity awards he forfeited by leaving CP six months ahead of schedule.
The World Shipping Council has warned of unintended consequences that would be detrimental to shippers if a rule was adopted that would limit situations in which detention and demurrage may be collected.