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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One intermodal chassis provider, however, the North American Chassis Pool Cooperative, will maintain its current pricing for both pool and premium chassis despite increased labor costs and inventory and fleet enhancement efforts, NACPC said in a statement.
Annualized driver turnover rates at large truckload fleets fell another 10 percentage points to 71 percent in the third quarter of 2016, the lowest level since the second quarter of 2011, according to the American Trucking Associations.
The AAPA and CAGTC have issued separate statements decrying President Donald Trump’s proposed 2018 discretionary budget, which would eliminate funding for the Transportation Investment Generating Economic Recovery (TIGER) grants program.