Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
The Atlanta, Ga.-based shipping and logistics provider reported year-over-year increases in net income and revenues for the third quarter of 2016 despite pressure from changes in fuel surcharges and currency exchange rates.
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An increasing amount of shippers are requesting “hidden” financial data from carriers, following weak carrier financials and Hanjin’s bankruptcy filing, according to shipping research and consulting firm Drewry.
The U.S. District Bankruptcy Court in Newark, N.J. will hear from companies today that said Hanjin is not “promptly” informing creditors when ships go off charter.
The U.S. government has signed off on a plan by Crowley Maritime to transfer perishable cargo from Central America to the Miami International Airport for onward delivery to customers in Europe.