The Greek port’s box volumes declined in 2016 from a year prior amid increased volumes at the car terminal, while revenues ticked up 3.6 percent.
While A.P. Moller-Maersk plans to narrow its focus to transportation and logistics, the foundation that owns a controlling stake in the company will move in its own direction, Ane Maersk Mc-Kinney Uggla said.
Activist investor Paul Hilal’s hedge fund was looking for a swift and amicable transition for outgoing Canadian Pacific President and CEO E. Hunter Harrison to join U.S. Class I railroad CSX, but negotiations have taken a decidedly hostile turn this week.
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The South Korean liner carrier’s bankruptcy, which resulted in hundreds of thousands of shipments around the world being delayed, was the biggest in the container shipping industry since the 1986 bankruptcy of U.S. Lines.
Hyundai Merchant Marine said it expects to receive funding from a new South Korean government shipping entity, which will buy and charter back vessels to the shipping company.
Danish shipping company Maersk Line and Chinese e-commerce marketplace Alibaba teamed up to provide sellers direct bookings with the container line, marking another development in the rapidly changing ocean freight procurement space.