Page 38 - Freight Waves News Today : Breaking News, Live Updates & Top Stories | Vimarsana

by Tyler Durden By Greg Miller, Senior Editor at Freight Waves, Prosecutors called it “the largest cocaine seizure in the 230-year history of U.S. Customs and Border Protection.” Twenty tons of cocaine worth $1 billion was found in seven containers aboard the MSC Gayane at the Philadelphia port on June 17, 2019. On Tuesday, the first of the conspirators — former MSC crewmember Vladimir Penda — was sentenced to five years and 10 months in prison for his crime. Fresh details on who was involved in the conspiracy and how they did it have been revealed in new legal documents filed by pros...

Another shipping stock bites the dust as big tanker fleets merge The same cast of characters has been in tanker circles for years. If their company goes bust, they pop up somewhere else. Sometimes they fight with each other. Sometimes they cooperate. Occasionally, they sell their entire fleets to one another (and re-emerge after their non-competes expire). One such rare fleet deal was announced Wednesday morning: New York-based International Seaways (NYSE: INSW) will merge with Connecticut-based Diamond S Shipping (NYSE: DSSI) in an all-stock transaction, with International Seaways the surviv...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

4 February 2021, 1:08 am EST By Recently, a trucking company, Forward air has just recovered from a ransomware attack. Even though the incident has already been dealt with, the company said it left a $7.5 million mark on the Q4 financial results. Furthermore, the company has vowed that even amidst the attack, it will not pay the ransomware demand. (Photo : Screenshot Youtube Video by 365 Trains & Trucks) According to ZD Net, the dent was reported as a loss of revenue outside of the cost that the company had spent on dealing with the ransomware incident. It was an unfortunate circumstance in ...

Eight Must Reads for the CRE Industry Today (Feb. 1, 2021) Knotel filed for chapter 11 bankruptcy protection and will be taken over by Newmark Group, reports The Wall Street Journal. The WeWork meltdown will get turned into a prestige limited series by Apple with Jared Leto and Anne Hathaway starring, according to The Verge. These are among today’s must reads from around the commercial real estate industry. Real-Estate Startup Knotel Files for Chapter 11 Bankruptcy “Real-estate startup Knotel Inc. filed for chapter 11 bankruptcy for its U.S. business on Saturday, agreeing for the c...