Prior to going bankrupt, Hanjin Shipping had chartered five, 3,400-TEU vessels and eight, 10,100-TEU vessels from Danaos.
The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
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The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Liberty Woods International filed a lawsuit in personam against Dalia Ship Holding and in rem against Dalia’s ship, the Ocean Quartz, seeking $1.4 million for damage it said occurred to shipments of plywood.
COSCO Shipping Ports Ltd. and CMA CGM Terminals Holding signed a worldwide memorandum of understanding to seek cooperation at ports worldwide, with preference being given to ports called by the Ocean Alliance.