However, the Bellevue, Wash.-based third-party logistics and multi-modal transportation services company’s revenues for the fiscal year, which ended June 30, rose 55.7 percent year-over-year to $782.5 million.
Rickmers Maritime seeks to restructure debts
The Singapore-listed containership owner and operator is unable to to meet on-going coupon and principal payments on $100 million Singapore (U.S. $73.2 million) in 8.45 percent notes due May 2017, the company said in a presentation to noteholders.
Typhoon Meranti causes chaos at Port of Kaohsiung
The typhoon caused a 14,000-TEU containership to destroy two container cranes at the Port of Kaohsiung’s sixth container terminal after slamming into them and local port officials believe the terminal could be out of operation for weeks.
BIMCO: Newbuild vessel orders drop to lowest level in 20 years
Contract orders for containerships are down 84.1 percent year-over-year so far in 2016, which is “exactly what the shipping industry needs,” according to Peter Sand, chief analyst at shipowner association the Baltic and International Maritime Council.
ITC offers miscellaneous tariff bill website
The U.S. International Trade Commission has released a new web page to provide information about how it plans to implement new duties related to the miscellaneous tariff bill process.
Port of Los Angeles reports busiest month since 2006
Despite the Port of Los Angeles reporting that August was its strongest month for container volumes since October 2006, the Port of Long Beach posted an 8.9 percent year-over-year drop in container volumes for the month to 641,029 TEUs.
Obama restores Myanmar to U.S. duty-free import program
President Obama signed a proclamation to reinstate Myanmar’s eligibility to the U.S. Generalized System of Preferences program that allows certain goods from developing countries to enter the U.S. duty free.
Aljex, Triumph Business Capital offer freight payment services
Aljex Software has joined with Triumph Business Capital to provide two working capital services to brokers, carriers and third-party logistics providers.
Report: Another 13-year-old containership scrapped
Hamburg-based ship management company Hammonia Reederei sold the 3,100-TEU boxship Westphalia for scrap at a “weak” price of $240 per light displacement ton, according to a report from maritime news outlet Splash 24/7.
Charleston prepares for larger ships despite trade slowdown
South Carolina Ports Authority President and CEO Jim Newsome outlined big ambitions for keeping Charleston a top 10 container port at his annual “State of the Port” address Monday.