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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However, the French ocean carrier, which acquired APL last year, said operating profits recovered in the fourth quarter of the year.
Truckload pricing slipped another 0.8 percent for the month compared to February 2016, the 12th consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
Saddle Creek Logistics Services adds senior director of business development, while Port of Price Rupert vice-president of commercial and regulatory affairs and general counsel steps down.