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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Hyundai Merchant Marine said it expects to receive funding from a new South Korean government shipping entity, which will buy and charter back vessels to the shipping company.
Danish shipping company Maersk Line and Chinese e-commerce marketplace Alibaba teamed up to provide sellers direct bookings with the container line, marking another development in the rapidly changing ocean freight procurement space.
The international shipping organization said 2017 will be another die-hard year of competition and it projects the container shipping segment to see a net fleet growth of around 3.1 percent in 2017 compared with an estimated 1.1 percent in 2016.