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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In addition, Hong Kong-based Orient Overseas Container Line is scheduled to receive a series of 20,000-TEU ships later this year.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.
In an industry first, the vessel sharing agreement between Hapag-Lloyd, Yang Ming, NYK, MOL and "K" Line, also established an independent trustee to manage funds to be used in the event one of the carriers within the group becomes insolvent.