On January 11, 2018, Direct ChassisLink Inc., better known as DCLI, completed the purchase of TRAC Intermodal’s 53-foot domestic chassis fleet. DCLI’s intention to purchase the TRAC units was made in late October 2017 before last month’s closing. The purchase price for the chassis fleet was not disclosed.
In late December 2017, Port Newark Container Terminal LLC (PNCT) secured $298 million in tax exempt bond proceeds that will be used to refinance existing debt and to finance the ongoing development of the terminal.
In January, Hong Kong-based SVA (Steve Vickers and Associates) issues its annual Asia Risk Assessment which handicaps the comparative political and economic risks for each nation or territory in the region.
“It was the Law of the Sea, they said. Civilization ends at the waterline. Beyond that, we all enter the food chain, and not always on top.”
Hunter S. Thompson, Generation of Swine: Tales of Shame and Degradation in the ‘80s.
On 22nd of December, 2016, Maersk, arguably the world’s largest ocean containership carrier (the argument coming from similar-sized 2M alliance partner MSC [Mediterranean Shipping Company]), began offering Chinese shippers the option of using Alibaba’s (arguably the world’s largest retail commerce company in gross revenue terms) OneTouch system. This move could well be as revolutionary as Malcom McLean’s launch of the containership industry just over sixty years ago.
The 2M Alliance, composed of the two largest containership operators, Maersk and MSC (Mediterranean Shipping Corporation) reportedly announced today it will not admit Hyundai Merchant Marine (HMM) as a full partner in the agreement but will explore other options such as slot exchange or purchase agreement.
It was announced last week the Permanent Court of Arbitration (PCA) in The Hague ruled in favor of the Philippines in their dispute with the People’s Republic of China over territorial claims in the South China Sea. Shortly after the announcement, Beijing rejected the ruling as illegal while Washington immediately chimed in with a statement that The Hague ruling was both legal and binding.
Early Friday morning (24-June) the U.S. awoke to the results of Britain’s historic vote to leave the European Union. On the western shores of “The Pond” the controversial referendum was often buried in the electric ether of the U.S. Presidential campaign or more exciting issues like keeping up with another generation of Kardashians. However, with the “shocking decision” (an expression used by at least a dozen U.S. news reporters) “The Exit” is today’s news.