The port terminal operator arm of the recently merged China COSCO Shipping saw net profits from continuing operations tumble 37.3 percent to $43.9 million in third quarter 2016 despite a 3.3 percent increase in revenues compared with the previous year.
The U.S. International Trade Commission has determined the domestic industry is harmed by imports of welded stainless steel pressure pipe from India, which Commerce determined is subsidized and sold in the United States at less than fair value.
The third-party logistics provider’s earnings per share for Q3 2016 fell short of analyst expectations, largely due to net revenue margin pressure as contractual sell rates fell faster than spot buy rates, William Blair Equity Research said.
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U.S. Customs and Border Protection (CBP) Commissioner Gil Kerlikowske told customs brokers and forwarders Tuesday that members of a key trade facilitation program, known as CBP’s Customs-Trade Partnership Against Terrorism program, need “enhanced benefits.
A spokesperson from Hanjin told American Shipper Monday that 28 of the ships it operates have completed cargo unloading.
Thousands of chassis in and around the ports of Los Angeles and Long Beach have containers mounted on them that are either owned or leased by the now insolvent ocean carrier Hanjin Shipping.