A source told American Shipper that Korea Line's parent company, Samra Midas Group (SM Group), will create a separate company called SM Lines that will operate Hanjin's liner business between the Far East and United States.
The Israeli ocean carrier signed up with Alibaba to allow customers of the e-commerce site to book space on its vessels, Reuters reported.
Feeder ships play a huge role in global trade and the future of these ships is quite secure, said Captain James McNamara, who currently serves as chairman of the Maritime Industry Museum at Fort Schuyler, N.Y.
Shares in Orient Overseas International Ltd., the parent company of ocean carrier Orient Overseas Container Line, have jumped more than 25 percent since the end of 2016, reaching a 52-week high on Wednesday.
A report issued today by the AASHTO and the AAPA said the FAST Act has brought ports and cargo fully into the surface transportation network and has given the nation a dedicated federal freight program for the first time ever.
The Washington state port has submitted a Concept Development Plan application to the City of Vancouver for the redevelopment of its Terminal 1 facility on the Columbia River.
Meanwhile, the parcel giant and third-party logistics provider also announced plans to offer Saturday delivery options in large metropolitan areas in the U.S., and has began testing a residential drone delivery system.
The e-commerce giant will add 2,000 new full-time positions at two new California fulfillment centers and more than 5,000 jobs in the United Kingdom during 2017.
Prior to going bankrupt, Hanjin Shipping had chartered five, 3,400-TEU vessels and eight, 10,100-TEU vessels from Danaos.