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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T.J. England, the chief legal officer for Salt Lake City-based trucking carrier C.R. England, said it intends to immediately appeal the decision.
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.
COSCO Shipping Ports Ltd. and CMA CGM Terminals Holding signed a worldwide memorandum of understanding to seek cooperation at ports worldwide, with preference being given to ports called by the Ocean Alliance.