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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Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.
As many as 100 more Panamax vessels - containerships with a capacity of 4,000-5,000 TEUs - need to be scrapped before owners see any significant increase in demand and charter rates, according to the latest weekly report from industry analyst Alphaliner.
CargoNet and AFN Logistics compiled a list of the top ten counties in the United States with the highest amount of reported cargo thefts between July 1, 2013 and July 1, 2016.