Hanjin opposed Ashley Furniture’s motion for a freeze on the amounts it owes the carrier, along with a reduction in the amounts owed, saying in a court filing that if the motion was granted, its ability to reorganize would have been severely jeopardized.
The U.S. District Bankruptcy Court in Newark, N.J. will hear from companies today that said Hanjin is not “promptly” informing creditors when ships go off charter.
Thomson Reuters global trade management business, ONESOURCE Global Trade, conducted its second annual Global Trade Survey, shedding light on trends and challenges faced by trade experts and multinationals alike.
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The Water Resources Development Act has mostly received bipartisan support, but Democrats in the House are upset that a provision that would have protected Harbor Maintenance Tax receipts from being diverted for other uses was removed from the final draft.
The Long Beach Board of Harbor Commissioners is expected to formally name Duane Kenagy as the port’s interim chief executive officer Wednesday, who joined the port in 2014.
The future size of feeder vessels will determine how much the legacy locks at the Panama Canal will be utilized by ocean carriers, compared to the new section for big ships.