PierPass Traffic Mitigation Fee (TMF) increase effective August 1, 2017

The West Coast MTO Agreement (WCMTOA) has announced that on August 1, 2017, the Traffic Mitigation Fee (TMF) at the Ports of Los Angeles and Long Beach will increase by 2.3 percent. The adjustment matches the combined 2.3 percent increase in longshore wage and assessment rates that take effect on July 1. Beginning August 1, the TMF will be $72.09 per TEU (twenty-foot equivalent unit) or $144.18 per forty-foot container. The TMF…

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Maersk says shipments back to normal next week after cyber attack

Danish shipping giant A.P. Moller-Maersk (MAERSKb.CO) expects container shipments to be back to normal early next week, it said on Thursday, as the impact of last week’s cyber attack extends into its third week. Maersk, which handles one in seven containers shipped globally, said this week it had restored its major IT systems, but was still handling a backlog of orders and was working to bring operations at its ports…

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Judge Orders Hanjin To Return Ships

From the LA TIMES, September 20, 2016: A South Korean Judge Monday ordered Hanjin Shipping Co. to return all its chartered ships to their owners as part of its bankruptcy proceedings, a company executive said. Hanjin filed for bankruptcy Aug. 31 and recently began unloading cargo at ports across the globe, after being denied access for several days. The South Korean carrier will finish discharging all the cargo on its…

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Hanjin bankruptcy is the tip of the iceberg for flailing shippers

LA TIMES, September 18, 2016 – Natalie Kitroeff , For the last five years, top shipping companies pushed forward with fat investments in more and bigger vessels, even as signs of trouble piled up. The goal was to shore up profits by doing business on a larger scale as global trade bounced back after the recession. But the new business never came. Freight rates dropped and shippers’ revenues plunged. Today, the…

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About one-third of Hanjin’s ships have discharged cargo

A spokesperson from Hanjin told American Shipper Monday that 28 of the ships it operates have completed cargo unloading. BY CHRIS DUPIN |MONDAY, SEPTEMBER 19, 2016 AMERICAN SHIPPER About one-third of Hanjin Shipping’s 97 containerships have finished unloading cargo at ports around the globe as of Sunday, and another 34 of the South Korean liner carrier’s containerships are still stranded at sea, Yonhap News Agency reported. A Hanjin spokeswoman told American Shipper Monday that 28 ships have completed…

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Procedures Announcement Regarding Hanjin Cargo and Equipment

As a result of the recent news about Hanjin Shipping’s severe financial difficultly and operating status, the following procedures are currently in place in The Port of New York and New Jersey for Hanjin cargo and equipment. Maher Terminals All Hanjin importdeliveries must be pre-paid in either cash or credit, if already established with Maher Terminals. Please contact the Maher Terminals Hot Line at 908-527-8200 Ext 3875 for information on the…

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US importers face stark gulf in fees when Hanjin stranded ships return

Bill Mongelluzzo, Senior Editor | Sep 07, 2016 9:17PM EDT Locating cargo lost on Hanjin vessels was just the beginning for shippers, who must also deal with different approaches among terminals and ports when those ships finally arrive at their destination. When five Hanjin ships now stranded off US coasts call at marine terminals in the US, importers will find stark differences in how much they have to pay to…

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Hanjin Group to spend $90.7M to rescue stranded containers

The money the Hanjin Group and its chair pledged is a fraction of the 600 billion South Korean won ($541 million) Hanjin Shipping owes in port dues. Hanjin Group and chairman Cho Yang-ho said Tuesday they would collectively spend 100 billion South Korean won ($90.7 million) to offload containers from Hanjin Shipping vessels that have been stranded worldwide. An emergency response team from the Busan port authority estimates Hanjin Shipping has 530,000…

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HANJIN SHIPPING SINKS IN KOREA

Hanjin Shipping Sinks in Korea With the bankruptcy filing of Hanjin Shipping having just occurred on the 31st, many of their shipping customers are only now beginning to feel the disruption to their supply chains and are trying to sort out how to get their goods moving. It would be reasonable to expect similar bankruptcy filings in some major countries such as the U.S. and at least one in Europe, but until…

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News Statement Regarding Status of Hanjin Shipping

September 1, 2016 NR 16-17 Contact: John K. DeCrosta, 202-523-5911 The Federal Maritime Commission is aware that Hanjin Shipping has advised its customers that the company’s application to engage in a voluntary restructuring process was denied by its creditors. The Commission is also aware that Hanjin Shipping has disclosed it has filed for court receivership and that these two actions combined have caused uncertainty among the American shipping community about…

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