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Month: June 2013

Israel Corp. ready to hand Zim stake to bondholders

The Israel Corporation is ready to hand over its interest in Zim Integrated Shipping Services to the company’s creditors and walk away. A debt restructuring plan to this effect for the financially beleaguered shipping company...

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Fate of Matson lies in limbo

No deal, no work. That’s the ultimatum from hundreds of works in charge of sailing Matson ships to the state. The clock is ticking for the company and crewmembers to reach a new contract. But with 10 days left, the union says...

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STX Pan Ocean Makes U.S. Bankruptcy Filing

Court-appointed administrators for the company told a U.S. federal bankruptcy court that it has faced declining rates in the dry bulk market, but that it has several long-term contracts that it can reorganise around. The filing...

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Stevedore practices draw criticism in Dutch Harbor

Mark Horne is a man on a mission. Or two. He wants to eliminate the use of foreign crewmembers loading and unloading material from vessels in Alaska – work that is guaranteed to American workers by the federal government....

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