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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The third-busiest port complex in North America has spent billions raising the Bayonne Bridge and dredging New York harbor in preparation for larger containerships.
Spain’s Popular Party pushed for the law-decree by arguing it was needed to comply with European standards and anti-trust rules, but critics said it would lead to worse labor conditions for dock workers.
Exports from China increased 16.4 percent from the previous year in March, while imports grew 20.3 percent, reversing a rare trade deficit in February, according to recent data from the country’s General Administration of Customs.