A coalition of 25 business groups has asked the Federal Maritime Commission to address fees imposed when shippers can't pick-up and return cargo, containers and chassis for reasons beyond their control.
A merger of Yang Ming, which is 33 percent owned by the government, with a private company such as Evergreen Line, would be difficult to achieve, contends Chen Ou-po, a member of Taiwan’s ruling Democratic Progressive Party.
The funds will be dispersed to 32 university transportation centers to advance research and education programs addressing critical transportation challenges in the United States, Transportation Secretary Anthony Foxx said in a statement.
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Historically low ocean freight rates have caused carriers to implement cost-cutting measures that have reduced reliability, meaning shippers need to be more flexible in how they procure capacity.
The South Korean government revealed plans earlier this week to order more than 250 vessels and extend 6.5 trillion won in financing by 2020 to prop up a shipbuilding industry that continues to suffer from weak demand and mounting losses.
Assets related to the South Korean shipping company’s services to the United States will be put up for sale as soon as tomorrow, multiple press reports said Thursday.