The United Kingdom's vote to leave the European Union last week could have implications for the Transatlantic Trade and Investment Partnership between the U.S. and EU, as well as the Trans-Pacific Partnership, according to experts at the Stimson Center.
The struggling South Korean shipping line plans to return 20 containerships and 18 bulk vessels when their charters expire this year and next as the latest step in its cost cutting and restructuring efforts.
A collection of maritime industry groups on Monday released a supplementary set of frequently asked questions to support smooth implementation of the container weight rule scheduled to take effect Friday.
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The proposed ocean carrier alliance will include Hapag-Lloyd of Germany; Japan's MOL, NYK and "K" Line; Taiwan-based Yang Ming; and South Korean line Hanjin, and could potentially add Dubai-based UASC and Korea's HMM down the road.
The German ocean carrier posted a net loss of 42.8 million euros (U.S. $48.4 million) on revenues of 1.93 billion euros.
Due to the deterioration of container freight rates and the subsequent drop in carrier financial results, analysts with Drewry Maritime Equity Research foresee a possible combination of Korean and Japanese carriers.