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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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.
Taneli Ruda, head of ONESOURCE Global Trade, said the election of Donald Trump won’t cause trade liberalization to grind to a halt across the world, but it should cause those who run multinational corporations to carefully contemplate its implications.
The joint container venture between Japan’s ‘Big 3’ will have a fleet capacity of 1.38 million TEUs, making it the sixth largest in the world, and when their 23 new ships are delivered, the merged operation will become the fifth largest carrier.