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Shandong Huahai Shipbuilding, a small shipbuilding company based in Rizhao, Shandong, will now be liquidated after an application from its primary creditor was accepted by the Rizhao Intermediate People's Court.
With waterway's expansion now 93 percent complete, employees task with building the new locks are demanding wage increase.
Iron ore shipments on the Great Lakes and St. Lawrence Seaway totaled 6.6 million tons in July, a year-over-year decline of 9 percent.
Saverco NV, a controlling shareholder of Antwerp-based cargo ship and aircraft lessor CMB, will seek to purchase all outstanding shares of CMB.
Rates from Shanghai to Northwest Europe and the Mediterranean have increased dramatically in the past two weeks, but rates from Shanghai to the United States have fallen three weeks in a row.
Weak trade has limited growth opportunities for airfreight carriers, but trade is expected to improve in the second half of the year, according to the International Air Transport Association.