The approximate $113 million acquisition of Rickmers Maritime Trust’s entire fleet of 14 Panamax-sized containerships will triple Navios Maritime Partners’ containership fleet.
Trading of shares in troubled Taiwanese ocean carrier Yang Ming have been suspended on the Taiwan Stock Exchange until at least May 4 as the firm prepares to reduce its equity capital by over 50 percent, according to multiple media reports.
The truckload transportation and logistics provider’s net income for the quarter tumbled 20.3 percent to $16 million compared with the same 2016 period even as revenues grew 3.8 percent to just over $501.2 million.
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A Hapag-Lloyd spokesperson told American Shipper space is tight on the Europe to Asia trade right now from an uptick in volumes, which is abnormal for this time of year.
Various headwinds in 2016 sent the industry into a tailspin, culminating with the demise of Hanjin Shipping, a company many thought was too big to fail.
Rep. John Delaney, R-Md., this week filed two bipartisan bills that would fund the rebuilding of ailing U.S. transportation infrastructure with revenues from a one-time bond sale to U.S. corporations and long-term international tax reform.