HMM to Buy Stake in Long Beach Terminal

By MarEx 2017-01-19 18:06:13 Hyundai Merchant Marine (HMM) has agreed to buy a 20 percent stake in Hanjin Shipping’s container terminal operator in the U.S. The company will buy the stake in Total Terminals International (TTI) for $15.6 million. TTI runs facilities in Long Beach and Seattle and is 54 percent owned by Hanjin Shipping.
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Report: Yang Ming Quashes Merger Talks

Taiwanese ocean carrier Yang Ming Marine Transport has dismissed any possibility of a potential merger as the company believes that the industry will start to recover from a downturn triggered by global overcapacity in 2017, Reuters cited the company’s chairman Bronson Hsieh as saying. Yang Ming, one of the top ten shipping companies in the world, has never
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-CSX generated record full-year efficiency savings of nearly $430 million in 2016 -Improved service levels drove strong pricing to support reinvestment in the business -For the second consecutive year, the company delivered a sub-70 operating ratio CSX Corporation (Nasdaq: CSX) today announced fourth quarter 2016 net earnings of $458 million, or $0.49 per share, versus
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Iceland Seaman’s Union and Eimskip have reached an agreement on wages for members of the union working on the company’s container vessels in liner services to and from Iceland. The strike called as of 16 January 2017 has therefore been cancelled. The wage agreement was signed yesterday and is valid until year-end 2020. BROWSE MORE NEWS
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CMA CGM tipped to take over OOCL

By Sam Chambers France’s CMA CGM, fresh from gobbling up Neptune Orient Lines (NOL), is being widely tipped to be the suitor to take over Hong Kong’s Orient Overseas Container Line (OOCL), the world’s eighth largest liner. Drewry has become the latest consultant to tip the French line to buy OOCL in the latest wave
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Amazon.com Inc. revealed plans to hire more than 100,000 people in the U.S. in the next 18 months, grabbing the spotlight as President-elect Donald Trump pushes companies to employ more Americans. The staffing up isn’t particularly surprising for a company moving into multiple categories from groceries, hardware and video to fashion and cloud services. But
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WSJ / A tumultuous year in the container-shipping industry, which included one big operator going under and others bundling together to stay afloat, ended with three major alliances poised to dominate ocean trade for years to come. Container shipping, which moves 95% of all manufactured goods, is estimated by industry executives to be worth $1 trillion
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Strait Times: 2016, A year of tumult for shipping

Straitstimes / For an industry that has seen no end of drama over the past six years or so, 2016 will go down as one of the stormiest 12 months on record. And there is plenty of uncertainty surrounding global trade in 2017 as well, which could continue to weigh on Singapore, given its role as
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