Business at the 130-acre port is way down since the boom times ended. Hueneme lost $1.3 million during the fiscal year that ended June 30, down from a profit of $1 million in 2008. … Although there’s still work at...
Read MoreAlthough the Korean government had intended to set up a 4 trillion won fund to buy 62 vessels from shipping firms to aid restructuring, only 198.2 billion won has been used to buy 17 ships. … In addition to the program...
Read MoreContainer giant NYK is looking to downsize its box ship fleet from its existing 120 vessels to about 60 in order to cope with reduced market demand and financial issues. According to reports in Japanese newspapers such as...
Read MoreJapan’s three largest shipping lines, NYK Line, MOL and “K” Line, on Tuesday reported losses for the first half of their fiscal years ended Sept. 30 as the global recession cut shipping volumes and rates in all sectors of their...
Read MoreGerman container shipowners, who control a third of the world box ship fleet, are facing increasing financial difficulties and the threat of bankruptcy as charter rates test fresh lows with the end of the peak shipping season....
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