UPS Airlines pilots represented by the Independent Pilots Association today ratified a new five-year labor agreement with over 91 percent voting in favor of the deal, according to a statement from the union.
Korea’s Financial Services Commission said the government will promote sales of Hanjin Shipping’s core assets to Hyundai Merchant Marine in a bid to maintain competitiveness of the Korean shipping industry.
The Hamburg-based maritime services provider reported a net loss of 131.5 million euros for the first half of 2016 on revenues of 249.3 million euros.
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Ocean carriers MOL, NYK and “K” Line all reported losses in their container segments and lower revenues year-over-year for the first fiscal quarter, which ended June 30.
South Korea’s largest container shipping company’s transported volumes ticked up 1 percent year-over-year in the quarter to 1.17 million TEUs, container revenues tumbled 26.6 percent year-over-year to 1.35 trillion won.
Meanwhile, the A.P. Møller - Maersk conglomerate, which includes both Maersk Line and APM Terminals, reported second quarter profits of $118 million, 89 percent below the $1.09 billion in the second quarter of 2015.