Gener8 Maritime Sees Red Ink amid Weak Charter Rates

Due to a significant decrease in time charter rates, the US-based crude oil shipping company Gener8 Maritime ended the third quarter of 2016 with a net loss of USD 37.4 million, compared to a net income of USD 33.2 million seen in the same period a year e

Hanjin Shipping Still in Talks on Charter Rate Cuts

South Korea’s cash-strapped company Hanjin Shipping has still not reached an agreement with shipowners on charter rate cuts, according to The Korea Herald.

Hanjin Shipping Struggles to Cut Charter Rates

Financially-troubled South Korean shipping major Hanjin Shipping failed to receive any positive response in its first round of talks with 22 shipowners in an effort to cut charter rates, according to Yonhap news agency.

HMM Cuts Deal with Owners on Charter Rates

South Korean shipping company Hyundai Merchant Marine has struck a deal with containership owners on 20 percent charter rate cuts, the company said in a filing to Korea Exchange.