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 ocean carriers’ jointly operated North Europe Express (NE1) service, which connects Israeli ports with Northern Europe, operates with five vessels with an average capacity of 5,093 TEUs, according to BlueWater Reporting.
The two Phoenix-based trucking giants said Monday the transaction to create Knight-Swift Transportation Holdings Inc., the industry’s largest full truckload company, is expected to close in the third quarter of 2017.
International Warehouse Logistics Association President and CEO Steve DeHaan said the group is urging Congress to facilitate the creation of a system that better aligns the design of the nation’s infrastructure with the demands of today’s economy.