Hanjin Shipping Files for Court Protection After Revamp Rejected
Hanjin Shipping Co. applied for court protection Aug. 31 after failed efforts to secure credit and tide over a cash shortage.
Distressed Hanjin Shipping Co. Becomes Symbol of Industry in Pain
Hanjin Shipping Co., the distressed Korean container mover that filed for court protection Aug. 31, is emerging as a symbol of the slump that has plagued the industry since the global financial crisis.
Shipping Firms Promise the EU Steps to Prevent Price Hike Collusion
BRUSSELS — Several container shipping companies have promised to change practices that potentially allowed them to raise the price of global goods transport, the European Commission announced July 7, following an investigation.
Global Shipping Slumps on Fears of Trade Crisis
The world’s largest ship broker admitted its business has been battered by weak global trade – underlining the crisis engulfing the shipping industry.
Ocean Carriers, Six Ports Reach Deal on Container Weight Procedures
Container carriers that belong to the Ocean Carrier Equipment Management Association trade group and six ports have announced the first united approach to meeting new international freight weight requirements that take effect July 1.
May 20, 2016Container Shipping Firms' Costs Soar on New Fuel Rules, New Report Shows
COPENHAGEN — Container shipping firms' annual costs have risen by a total $500 million due to new sulfur emissions regulations that have forced vessels to use higher-cost fuel, the Organization for Economic Co-operation and Development said in a May 19 report.
China Wants Its Cargo Ships to Use Faster Northwest Passage in Arctic Ocean
BEIJING — China will encourage ships flying its flag to take the Northwest Passage via the Arctic Ocean, a route opened up by global warming, to cut travel times between the Atlantic and Pacific oceans, a state-run newspaper reported April 20.
272-Year Old Shipping Exchange Gets Acquisition Offer from Singapore
Singapore Exchange is seeking to buy Baltic Exchange, the 272-year-old London-based provider of information on global shipping costs.
Shipping Index Plunges to Fresh Record Amid China Steel Slump
The shipping industry’s most-watched measure of rates for hauling commodities plunged to a fresh record amid a persisting glut of ships and speculation weakening Chinese steel output could translate into declining imports of iron ore to make the alloy.
Holiday Online Orders Have Shippers in Highest Gear
The holiday shipping season is in overdrive now, with the next two Mondays expected to be among the busiest of the year.