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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Non-vessel-operating common carrier Ecu-Line has opened a new branch office in Fremantle, Australia.
The port of Fremantle services the capital city of Perth and the entire state of Western Australia.
The NVO said its Fremantle branch complements its existing weekly export consolidations from Australia to Singapore for destinations worldwide.
The Fremantle branch is headed by Rob Page.
Separately, the three Japanese ocean carriers - NYK, “K” Line and MOL - on Friday filed an agreement with the Federal Maritime Commission to merge container operations.
House members question whether the Shipping Act should be revised, and also said there is a need to protect domestic tugboat and terminal companies.
The Singapore-based ocean carrier, now a subsidiary of France's CMA CGM, will commence the Asia Fremantle Express (AFX) service between Singapore and Fremantle on April 27, 2017.