The Jersey City, N.J.-based Great Lakes bulk carrier has completed agreements with lenders to amend prior credit terms and waive certain default penalties, the company said in a statement.
Hanjin’s creditors say no to more funding
The future of South Korea’s largest container shipping company looks grim, with numerous media outlets reporting lenders are refusing to extend the company additional credit.
COSCO posts $1.1b loss in first half 2016
The ocean carrier reported a net loss of 7.21 billion yuan renminbi in the first six months of the year compared with a 1.97 billion yuan renminbi profit in the same 2015 period amid its merger with fellow state-run line China Shipping.
Prince Rupert clears space for terminal expansion
The Canadian port will spend $16 million to relocate a maintenance building and construct a warehouse off the wharf to accommodate the expansion of the Fairview Container Terminal.
Honeywell wraps up Intelligrated acquisition
U.S. industrial conglomerate Honeywell completed a $1.5 billion purchase of Intelligrated, an information technology specialist in supply chain and warehouse automation.
USDA considers persimmon imports from Japan
The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service is proposing to allow the import of fresh persimmon with calyxes, or bumps from the fruit’s flowers, from Japan into the United States.
‘K’ Line sets up cargo-handling joint venture in India
The Japanese liner carrier established a cargo-handling joint venture in Mumbai, India that will initially handle car carriers, but will eventually include other types of vessels.
EXPERT OPINION: THE MACY’S 100 AND ITS COLLATERAL DAMAGE
Pamela N. Danziger is an internationally recognized expert specializing in consumer insights for marketers targeting the affluent consumer. She is president of Unity Marketing, a marketing consulting firm she founded in 1992. In a recent blog post, Danziger projects some of the potential affects of the recently announced Macy’s closings. Following …
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OMNICHANNEL OPTIONS FOR BOUTIQUES, EVEN IF THEY DON’T HAVE A WEBSITE
Even the most die-hard brick-and-mortar fashion boutiques understand the benefit of selling online in today’s digital age. But not every retailer has the money, time, manpower or even technological know-how to run an e-commerce business. Luckily, digital retail platforms like Shoptiques and Farfetch do the work for them—marketing and selling …
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Cincinnati firm marries parcel trucks and drones
Workhorse Group has developed an eight-rotor “octocopter” called HorseFly designed to be used in tandem with its electric package delivery trucks, some of which are in service with companies like FedEx and UPS.