The tank barge operator saw increased diesel revenues but fell flat on marine revenues and net earnings.
In segments described as liner or containership operations, NYK, MOL and “K” Line reported a combined loss of 77 billion yen (U.S. $691 million) for the fiscal year ending March 31, 2017, resulting from historically low freight rates.
United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.
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The Danish shipping giant has confirmed it is selling its Brazilian cabotage subsidiary Mercosul Line in a preemptive move aimed at satisfying any potential competition concerns from Brazil’s Conselho Administrativo de Defesa Economica (CADE).
Twill, the new digital freight forwarding start-up, will officially be open to new customers from April 10, allowing users to instantly place bookings, manage documentation and track shipments.
The Danish shipping company will use the cloud computing platform to develop digital products and services across all brands in its A.P. Moller - Maersk Transport & Logistics division.