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Business, Logistics

Maersk Ends Megaship Building Era With New Acquisition Plans

The owner of the world’s largest container shipping line will stop ordering newly built vessels and instead pursue takeovers in an industry that has been plagued by overcapacity for almost a decade.

September 23, 2016
Business, Government, Logistics

Duane Kenagy Appointed Interim CEO of Port of Long Beach

The Board of Harbor Commissioners approved Duane Kenagy to become interim CEO at the Port of Long Beach, California, while the search for a permanent replacement is under way.

September 22, 2016
Business, Logistics

Hanjin Tells Major Retailers That Vessels Won't Stop in the US

Hanjin Shipping Co. won’t allow containerships anchored at sea to complete their journeys to the United States, according to an e-mail obtained by Transport Topics.

Ari Ashe | Staff Reporter
September 22, 2016
Business, Logistics

Hanjin Gets $45 Million Credit Line to Unload Cargo From Stranded Vessels

Korea Development Bank, the main lender to Hanjin Shipping Co., offered a conditional credit line of 50 billion won ($45 million) to help ease supply chain disruptions caused by the collapse of the nation’s biggest container mover.

Kyunghee Park | Bloomberg News
September 22, 2016
Business, Logistics

Maersk to Split Group Into Separate Transport, Energy Companies

A.P. Moeller-Maersk A/S will split into separate transport and energy businesses as Denmark’s biggest company moves ahead with an historic shake-up of the conglomerate.

September 22, 2016
Business, Logistics

Hanjin Bankruptcy Tip of the Iceberg for Flailing Shippers

LOS ANGELES — For the past five years, top shipping companies pushed forward with fat investments in more and bigger vessels, even as signs of trouble piled up.

Natalie Kitroeff | Los Angeles Times
September 21, 2016
Government, Business, Logistics

US Commerce Department Urged to Resolve Hanjin Shipping Crisis

The National Retail Federation and other U.S. trade groups are urging the Commerce Department to work with the South Korean government to resolve the Hanjin Shipping Co. crisis, which stranded an estimated $14 billion of goods at sea.

Nick Turner | Bloomberg News
September 20, 2016
Business, Logistics

Forward Air Lowers Third-Quarter Projection, Blaming Tough LTL Market

Forward Air Corp. lowered its third-quarter earnings projections, no longer confident that it’ll generate more revenue than the same period in 2015, the company announced on Sept. 20.

Ari Ashe | Staff Reporter
September 20, 2016
Business, Logistics

Experts Paint Grim Picture for Intermodal Growth

HOUSTON — Intermodal businesses that have become accustomed to steady long-term growth are facing the prospect of tougher times ahead in the form of a likely recession and changing freight patterns, three industry experts said Sept. 19.

Rip Watson | Special to Transport Topics
September 19, 2016
Business, Government, Logistics

Port of New Orleans Begins Clean Truck Plan

The Port of New Orleans said it’s begun a Clean Truck Replacement Program that will allow 20 drayage truckers to replace their older Class 8 trucks with newer models.

September 19, 2016
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