The South Korean shipping conglomerate has already reached a deal with Zodiac Marine, according to shipping publications Lloyd's List and Tradewinds.
As a result of a 7-to-1 share reduction for Hyundai Elevator, Hyundai Global and Hyundai Group Chairman Hyun Jeon-Eun, the Korea Development Bank will become the largest shareholder of struggling South Korean ocean carrier Hyundai Merchant Marine.
Singapore Minister for Trade and Industry Lim Hng Kiang in an interview last week in Mexico City warned that modifications to the sweeping Trans-Pacific Partnership could unravel the entire 12-nation free trade agreement.
The struggling South Korean ocean carrier recently removed vessels from two services between Asia and North Europe, according to data from ocean carrier schedule and capacity database BlueWater Reporting.
The 9,742-TEU containership COSCO Shipping Panama began its historic passage through the expanded waterway, construction of which began back in 2007, Sunday morning.
The Port of Long Beach is working with a local company to commercialize an exhaust treatment system that captures smoke-stack emissions from cargo vessels to meet California clean air rules.
The United Kingdom's vote to leave the European Union last week could have implications for the Transatlantic Trade and Investment Partnership between the U.S. and EU, as well as the Trans-Pacific Partnership, according to experts at the Stimson Center.
The struggling South Korean shipping line plans to return 20 containerships and 18 bulk vessels when their charters expire this year and next as the latest step in its cost cutting and restructuring efforts.
A collection of maritime industry groups on Monday released a revised set of frequently asked questions to support smooth implementation of the container weight rule scheduled to take effect Friday.