The Danish liner carrier has resumed service to Iran after a five-year absence and just a year and a half after the Maersk Tigris was fired upon by the Iran Revolutionary Guard Corps Navy.
Roberto Azevêdo, the head of the World Trade Organization, warned that the benefits of international trade are increasingly getting lost among the incessant anti-trade rhetoric that’s being espoused worldwide.
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.
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Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
The South Korean liner carrier is surely to blame for its own demise, but how much of its demise can be attributed to luck in an industry where most play follow the leader?
Electronics manufacturer Samsung said in court filings that "cargo owners are being held hostage," while Maher Terminals said it "is not required to extend free credit to Hanjin, and should not be forced to."