Global shipping to shift as Europe and southeast Asia fill US gap in China trade
China is cultivating trade ties with Southeast Asia and Europe in the face of intensifying ...
CHRW: UPGRADES AHEAD OF EARNINGSHON: STRATEGIC SOLUTIONSXPO: KEEP ON TRUCKINGDHL: ANTITRUSTDSV: TRIMMINGDSV: OHHHHHWMT: MASSIVE DOWNSIDE UNDER BEAR CASEWMT: RISKTSLA: 'FEUD RISK'FDX: KEEP THE FAITH DHL: PORTFOLIO REJIG TALK IS JUST THATAAPL: FOXCONN STRENGTHWTC: MOMENTUM
CHRW: UPGRADES AHEAD OF EARNINGSHON: STRATEGIC SOLUTIONSXPO: KEEP ON TRUCKINGDHL: ANTITRUSTDSV: TRIMMINGDSV: OHHHHHWMT: MASSIVE DOWNSIDE UNDER BEAR CASEWMT: RISKTSLA: 'FEUD RISK'FDX: KEEP THE FAITH DHL: PORTFOLIO REJIG TALK IS JUST THATAAPL: FOXCONN STRENGTHWTC: MOMENTUM
The dispute over the Maersk Line – including subsidiaries Hamburg Süd and Sealand – departure from New York’s Staten Island terminal, operated by Global Container Terminals (GCT), continues, with GCT now suing the line over lost earnings, according to this report from Freightwaves. Maersk decided to move its services to APM Terminals’ facility in nearby New Jersey at the beginning of the month, and offered GCT $5.5m in settlement. That didn’t go down well: “Maersk breached its agreement with GCT solely because Maersk and its corporate parent and affiliated terminal operator thought they could make more money by doing so, without any regard to the extreme harm and damage Maersk’s breach would cause to GCT,” it said. “Shifting economic self-interest simply does not permit Maersk to breach its binding contractual obligations to the detriment of GCT,” a new court document filed yesterday alleged.
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