LX Pantos spreads its wings as ecommerce traffic drives network expansion
South Korean 3PL LX Pantos said yesterday it had paid $156m to acquire the 11-storey ...
Hyundai Merchant Marine (HMM) has managed to secure a 20% cut in daily hire rates for its chartered vessels.
The line today said it had reached a new agreement with five containership owners, saying it represented a saving of around W530bn (US$455m) over the next three and a half years.
HMM’s creditors had said to be seeking charter rate cuts of 30%, but main creditor Korea Development Bank (KDB) today said the deal “achieved the goal that it had originally intended”.
HMM said it planned to sign new charter parties with ...
Maersk eyes 'cut and run' moves as port congestion brings delays
Maersk skips call at Rotterdam as labour issues bring delay
Blanked voyages fail to halt sliding spot rates, and March GRIs will be resisted
U-turn on de minimis ban, following 'processing issues', as trade war heats up
Metals tariff rocks auto industry, and Trump smiles on bribes in foreign deals
CBP won't be ready for flood of extra processing after de minimis pause
Near-shoring drives Mexican warehouse space to historic lows
Ecommerce platforms cancel flights and slash capacity – market is 'a mess'
Comment on this article
The firm Info
June 13, 2016 at 7:30 amThe stock prices of both shipping companies plunged on June 13, 2016.
because the Nakerd short sellers and loan traders made the trend of stock price.
downward.
Hanjin has done its best to cut charterage from its vessel owners
as HMM cut 20% charterage from the vessel owners.
Hanjin has already joined new shipping alliance but HMM was excluded from joining new shipping alliance. Hanjin seems to have the key for HMM to join the new shipping alliance. HMM seemed to make 20% at the charterage correction talks but Hanjin is still in the beginning stage. The 2 cash strapped shipping companies seem to go to the court receivership if they cannot overcome the difficulies such as joining shipping alliance and charterage cut .
This story is based on http://www.firminfo.net