Prior to going bankrupt, Hanjin Shipping had chartered five, 3,400-TEU vessels and eight, 10,100-TEU vessels from Danaos.
The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
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An internal investigation into roll-up transportation and logistics provider Roadrunner Transportation Systems’ financial reports has concluded that its 10-K SEC statements dating back to 2014 overstated earnings by between $20 million and $25 million.
The ship management software provider analyzed six ports throughout the world to better understand what impact the new verified gross mass amendment of the Safety of Life at Sea convention has had on the shipping industry since it took effect July 1.
Drewry research conducted on behalf of software provider CargoSphere found that forwarders spend about $500 million a year on ocean freight rate acquisition and management.