Hyundai Heavy Industries’ shareholders on Monday voted to approve the company’s restructuring plans despite strong union opposition.
International Longshoremen's Association President Harold Daggett said he will seek help from Congress in union disputes with the South Carolina Ports Authority and the Waterfront Commission of New York Harbor.
The air cargo services provider posted a net income of $41.5 million for the full year in 2016 after reporting losses in two consecutive quarters as expenses related to a deal with e-commerce giant Amazon dragged on earnings.
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The joint container venture between Japan’s ‘Big 3’ will have a fleet capacity of 1.38 million TEUs, making it the sixth largest in the world, and when their 23 new ships are delivered, the merged operation will become the fifth largest carrier.
BlueWater Reporting has provided an update on what information is available in regards to the new ocean carrier alliance networks scheduled to take effect in April.
Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.