Under the renewed long-term agreement, XPO Logistics will continue to manage nine reverse logistics service centers for Leeds-based ASDA Stores, Ltd., as well as collaborate on environmental sustainability efforts.
The Sydney, Australia-based third-party logistics provider will build two new purpose-built ships with 40 percent more capacity to support trade between Victoria and Tasmania, the company said in a statement.
The Greek port saw profits for the first half of 2016 jump 5.6 percent year-over-year to 12.7 million euros, despite headwinds from a 28-day strike carried out by staff between May and June.
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A hearing will be held Tuesday in a U.S. bankruptcy court in Newark, N.J. to consider the South Korean ocean carrier’s request to have its rehabilitation proceeding in bankruptcy court in Korea recognized under Chapter 15 of the U.S. bankruptcy code.
The President of South Korea, Park Geun-hye, said corporate responsibility and moral hazards are creating adverse effects on its national economy and the government will not blindly support companies in financial trouble.
Electronics manufacturer Samsung said in court filings that "cargo owners are being held hostage," while Maher Terminals said it "is not required to extend free credit to Hanjin, and should not be forced to."