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 German ocean carrier is citing benefits from its planned merger with United Arab Shipping Company, but Reuters has reported a "snag" in those plans.
Seven more container shipping lines, including OOCL and ZIM, have offered to cut terminal handling charges in China, the Xinhua News Agency reported.