Prior to going bankrupt, Hanjin Shipping had chartered five, 3,400-TEU vessels and eight, 10,100-TEU vessels from Danaos.
The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
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The Spanish government will face strikes at all ports across the country later this month, according to International Transport Workers’ Federation (ITF) Maritime Operations Coordinator Jacqueline Smith.
The new president immediately put the world on notice that his administration will combat unfair trade practices, which many interpret as a return to protectionism.
The South Korean shipbuilder recorded a net profit of 682.3 billion South Korean won for 2016, up from a loss of 1.36 trillion won for 2015.