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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Benoit de la Tour, president of terminal operating systems provider Navis, which is extending its reach beyond the terminal, stressed the need to simplify supply chain complexity, noting how the industry is behind in digitalization.
Sinotrans & CSC, parent company of the largest freight forwarder in China, has become a wholly-owned subsidiary of transportation, finance and real estate conglomerate China Merchants Group.
U.S. shippers should not underestimate the power the nation’s longshore unions hold over the flow of containerized cargo, said Chris Gillis, editor at American Shipper.