Struggling South Korean shipbuilder STX Offshore & Shipbuilding Co. on Friday filed for receivership with the Seoul Central District Court amid mounting debt and continued losses.
The company plans to accept the weights that clients provide as certified, but if clients are not able to provide the certified weight, it will weigh the cargo on their behalf.
Federal Maritime Commission Chairman Mario Cordero said one of the items that has been on his agenda since becoming chairman in 2013 is to have a better funded and better resourced Federal Maritime Commission.
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Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
In order to transport goods beyond its borders, Iowa relies on a network of 10,000 miles of highways, 3,825 miles of tracks used by 18 large and small railroads, and 491 miles of navigable inland waterways bordering the state.
The 3rd Circuit U.S. Court of Appeals decision, which relies on a 1866 Supreme Court opinion, is being heralded as a victory for ocean carriers.