Cho Yang-ho said he faced financial constraints and fading support from the liner operator’s lenders.
South Korea’s Ministry of Oceans and Fisheries has been granted an all-time high budget of KRW4.96 trillion (USD4.25 billion) for 2017. This up from the KRW4.88 trillion the MOF was granted in 2016.
The capacity of container shipping's idle fleet has doubled this year, driven up by Hanjin's collapse.
Concerted efforts to restore and possibly deepen Uruguay’s Martin Garcia channel have been long-awaited but dogged by controversy. Sita Taylor reports.
German bunker fuel trader and supplier Bomin announced further cuts to its global network of offices on Tuesday amid a rising trend in crude and fuel oil prices and forthcoming challenges related to the 0.5% sulphur cap for marine fuels in 2020.
After an extremely weak start to the year, US-listed shipowners are clawing their way back toward 2015 levels of proceeds from equity and debt offerings, with three sales already in December grossing more than USD120 million.
Shipowners trimmed operating costs by an average 4.4% this year, according to a shipping analyst's report.
Singapore-listed Indonesian shipping line Samudera Shipping said on Tuesday that it would record losses for 2016, due to asset impairment and exposure to bankrupt Hanjin Shipping.
The sale marks the Vale mining group's ongoing attempts to reduce its fleet size and the burden on its balance sheet.
An executive director of Singapore Stock Exchange-listed Pacific Radiance is currently under investigation by the Corrupt Practices Investigation Bureau (CPIB), after being arrested and released on bail on 2 December.
Two of Germany’s oldest tug operators Unterweser Reederei and Lütgens & Reimers are to be sold after shuffle of customers and contracts takes toll on towage companies' profitability
While the Capesize market continues to soften, spot freight rates for Panamax, Supramax, and Handysize remain strong.
DP World has set up an investment fund in partnership with Canada's Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers, to invest in the ports of investment-grade countries.