The U.S. Government Accountability Office found that tariff rates are generally more expensive than contract rates, but are usually more suitable for shippers with infrequent or small volume shipments.
A coalition of 25 business groups has asked the Federal Maritime Commission to address fees imposed when shippers can't pick-up and return cargo, containers and chassis for reasons beyond their control.
A merger of Yang Ming, which is 33 percent owned by the government, with a private company such as Evergreen Line, would be difficult to achieve, contends Chen Ou-po, a member of Taiwan’s ruling Democratic Progressive Party.
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The South Korean carrier said certain providers have been charging its customers more than what it would have charged to transport cargo and has tried to intervene, taking its concern up with the Federal Maritime Commission.
The South Korean liner carrier is surely to blame for its own demise, but how much of its demise can be attributed to luck in an industry where most play follow the leader?
The South Korean ocean carrier filed for recognition of its Korean insolvency proceeding in the United States Friday in the U.S. Bankruptcy Court for the District of New Jersey and the court ordered a hearing on the request for Tuesday.