Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
After falling in 19 of the previous 21 months, railway employment levels in the United States in February 2017 ticked up 0.28 percent from the previous month, according to recent data from the U.S. Surface Transportation Board.
The Athens, Greece-based containership lessor has entered into a Securities Purchase Agreement with Kalani Investments for the sale of up to 150,000 newly designated series B-1 and B-2 preferred shares, according to a statement form the company.
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The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
The International Longshoremen’s Association is calling for a shutdown of ports along the Atlantic and Gulf Coasts, and a march in Washington.
The Agriculture Transportation Coalition, National Industrial Transportation League and National Retail Federation expressed concerns over a threatened work stoppage at East and Gulf Coast ports by members of the International Longshoremen's Association.