International Longshoremen’s Association delegates voted overwhelmingly Wednesday for a two-year extension of the union contract covering 18,500 Atlantic and Gulf dockworkers. … ILA President Richard Hughes said he...
Read MoreCMA CGM on Tuesday became the largest container line to announce a restructuring in the face of the losses brought on by the biggest crisis to hit the industry. … CMA CGM has long been seen as one of the lines most...
Read MoreGreek shipowner and charterer Danaos Corp. said last Tuesday it has not agreed to a deal with Zim, to reduce charter rates on the six containerships Zim is leasing. In a press release Danaos said that: “Zim Integrated Shipping...
Read MoreChina and South Korea’s support for shipbuilders may add to a glut of capacity, slowing a recovery in freight rates and vessel prices. The world’s two largest shipbuilding nations have taken steps this year to aid shipyards and...
Read MoreThe world trade’s contraction has harshly hit the Mediterranean’s leading shipping company CMA-CGM: freight rates have lowered on average by 75% in 2008, while the group has been enlarging the fleet with a...
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