Hanjin Shipping Sells Pacific Business to Korea Line for $31 Million

SEOUL, Nov 22 (Reuters) - South Korea's Hanjin Shipping Co Ltd said on Tuesday it decided to sell part of its container ship business to Korea Line Corp for 37 billion Korean won ($31.38 million). Korea Line will buy Hanjin's Pacific routes shipping business, relevant client management information, units in seven countries including the United States, China and Vietnam, as … [Read more...]

Ship Photo of the Day – Alaska’s Biggest Crane Arrives in Kodiak

Matson, Inc. this week took delivery of a new 65-ton gantry crane to replace one half its size at the company's Kodiak Terminal in Alaska. The crane, which stands 340 feet tall and with a boom spanning 164, is now the largest in Alaska and is capable of lifting loads up to 60 feet long and 145,000 pounds. The $10 million crane is one of a number of investments Matson is … [Read more...]

Sale of Horizon Lines’ Hawaii Business Cleared by DOJ

The U.S. Department of Justice has cleared the sale of Horizon Lines' Hawaii business to The Pasha Group. According to Horizon Lines, the premerger waiting period was granted early termination by the Department's Antitrust Division effective April 21, 2015, clearing the way for the closing of the sale by the end of the company's second quarter. Horizon Lines announced the … [Read more...]

Horizon Lines to Terminate Puerto Rico Service, Announces Sale of Remaining Company

Struggling Jones Act shipping company Horizon Lines announced Tuesday plans to terminate its Puerto Rico operations and said it has separately entered into a series of definitive agreements that will result in the sale of the entire company. Horizon Lines made the announcement in a press release issued Tuesday, saying that the company would cease providing liner service … [Read more...]