Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.
Hanjin opposed Ashley Furniture’s motion for a freeze on the amounts it owes the carrier, along with a reduction in the amounts owed, saying in a court filing that if the motion was granted, its ability to reorganize would have been severely jeopardized.
The transportation and logistics provider’s net income dropped 41 percent to $18.9 million compared with third quarter 2015 after a similar 43 percent year-over-year decline the previous quarter, according to the company’s most recent financial statements.
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Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
Volga-Dnepr Group names senior VP of sales and marketing, while Synergy appoints VP of enterprise solutions.