The approximate $113 million acquisition of Rickmers Maritime Trust’s entire fleet of 14 Panamax-sized containerships will triple Navios Maritime Partners’ containership fleet.
Trading of shares in troubled Taiwanese ocean carrier Yang Ming have been suspended on the Taiwan Stock Exchange until at least May 4 as the firm prepares to reduce its equity capital by over 50 percent, according to multiple media reports.
The truckload transportation and logistics provider’s net income for the quarter tumbled 20.3 percent to $16 million compared with the same 2016 period even as revenues grew 3.8 percent to just over $501.2 million.
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The wife of a seafarer who perished when the cargo ship El Faro sank in October 2015 near the Bahamas is asking Congress to establish new regulations aimed at preventing similar tragedies.
Shippers, carriers and terminals swapped accusations in their filings with the Federal Maritime Commission that their positions on detention and demurrage charges are being mischaracterized.
The Road Repair and Accountability Act of 2017 will raise roughly $5.2 billion per year in investment funding for transportation infrastructure over the next 10 years through a series of gas and diesel tax hikes.