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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Currently general manager for ride-sharing firm Lyft in Southern California, Kan has also served on the board of directors for Amtrak since 2015, the White House said in a statement announcing his nomination to Under Secretary of Transportation for Policy.
The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
The debut of “THE” Alliance and the OCEAN Alliance caused a rise in capacity on the transpacific trade, according to the latest quarterly World Liner Supply Report from BlueWater Reporting.