Sources said the South Korean liner carrier will lay off about 180 members of its 500 person workforce in the United States on Friday.
The commission said it has “reasonable grounds” to suspect the carriers engaged in collusive practices to fix incremental cargo rates from Asia to South Africa.
The head of the largest freight brokerage in North America told American Shipper this week that capital fueling acquisitions and new technology will push his company and industry as a whole.
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The shipping industry is being roiled by Hanjin’s decision to file receivership, with spot rates surging, cargo being stranded on vessels, and now lawsuits are being filed by shipowners.
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.
Several ocean carriers have decided to launch various routes in order to fill the void from Hanjin’s halted operation.