FMC Revokes Various OTI Licenses

Monday, August 21, 2006
The Federal Maritime Commission (FMC) issued an order revoking the licenses for various ocean transportation intermediaries (OTI) for failure to comply with the financial responsibility requirements of the Shipping Act of 1984. Source: HK Law

Contracts

Hanjin files for Receivership, Ports Turn Away Vessels

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court

Electric Boat Wins $300 Mln Virginia-class Submarine Contract

US-based General Dynamics subsidiary Electric Boat won a contract for more than $300 million to maintain design and engineering specifications for Virginia Class submarines,

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

 
 
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