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The container payments were created in the 1960s to compensate the longshoremen as ports embraced automation and the use of standardized, 40-foot-long containers to ship goods.
The container payments were created in the 1960s to compensate the longshoremen because many were losing their jobs as seaports embraced automation and the use of standardized, 40-foot-long containers to ship goods.
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In a statement on Friday, George H. Cohen, director of the Federal Mediation and Conciliation Service, said the two sides had reached an agreement in principle on a particularly contentious issue, known as container royalty payments.
The United States Maritime Alliance, an association of shipping companies and terminal owners, is demanding concessions on "container royalty payments," which the companies share with union members for each ton of cargo handled.
(Such facilities frequently auction the contents of storage containers after renters default on payments).
Just before the end of 2012, the parties resolved a thorny issue involving royalty payments made to union members for each container unloaded.
The Digital Payments Hub uses a proprietary, secure data container called a COIN™ (not to be confused with the modular payment card for which Modo's patent precedes by several years) to move the value/data along their network.
Most of the day, Dalby is a repo man, container-ship style: he reclaims vessels when an owner has missed several mortgage payments.
An ex-chairman of the Cronos Group, which leases marine cargo containers to shippers, was charged today by the Securities and Exchange Commission with causing the company to conceal more than $10 million in payments that Cronos made to him.
High-yield bond investors bought $150 million of payment-in-kind toggle notes, which enable interest payments to be made with more debt instead of cash, so Madison Dearborn could finance a dividend on the back of BWAY Holding, a container maker.
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