Israel Corp., the parent of the Israeli shipping line Zim, has laid out its restructuring plans to surface from a crippling lack of cash caused by low ocean freight rates and a sizable fleet expansion plan.
In a note to the Israeli stock exchange, Zim parent said it would seek to extend loan periods from its creditors, and most notably, given ship owners from which it charters a stake in the company starting from 2016.
Hanjin announces restructuring
Hanjin Shipping announced a restructuring plan Wednesday it said would help it “cope with the rapidly changing business environment and secure its future-oriented corporate structure for sustainable growth.”
The company said its board of directors voted to separate the company into holding company Hanjin Shipping Holdings Co. Ltd. and an operating company, Hanjin Shipping Co. Ltd.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
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Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now