Without clear carbon controls from the International Maritime Organization, the shipping industry may have to adhere to multiple sets of regional regulations, according to Esben Poulsson, chairman of the International Chamber of Shipping.
The Warren, Mich.-based trucking carrier and third-party logistics provider saw net income plummet 39.2 percent year-over-year to $24.2 million as revenues slid 5 percent to $1.07 billion, according to the company’s most recent financial statements.
Hyundai Heavy Industries’ shareholders on Monday voted to approve the company’s restructuring plans despite strong union opposition.
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Two Floridian ports changed plans on inking deals with the Cuban government after Florida Gov. Rick Scott said he would recommend restricting state funds for ports that work with Cuba.
The Israeli container carrier told American Shipper Friday it is rejecting the rumor that it has intentions to sell its global shipping operations to instead become a regional Mediterranean carrier.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.