Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.
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 transportation and logistics provider’s net income dropped 41 percent to $18.9 million compared with third quarter 2015 after a similar 43 percent year-over-year decline the previous quarter, according to the company’s most recent financial statements.
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Thousands of chassis in and around the ports of Los Angeles and Long Beach have containers mounted on them that are either owned or leased by the now insolvent ocean carrier Hanjin Shipping.
The International Longshoremen's Association has reversed an earlier decision, and agreed to once again work ships operated by the now insolvent South Korean ocean carrier.
An MSC spokesperson told American Shipper the reason it sold its interest in Genoa, Italy-based logistics company Aprile to Savino Del Bene was to exit the freight forwarding business.