The Atlanta-based parcel giant reported increased revenues in all of its business segments, and surpassed analyst expectations with an earnings per share of $1.32 for the quarter.
The port terminal operator arm of China COSCO Shipping saw earnings sink 65.6 percent to $37.6 million in first quarter 2017 despite a 7.5 percent increase in container throughput compared with the same 2016 period.
The London-based shipping research and consulting firm said that even though freight rates fell seasonally in the first quarter of 2017, they are better than they were in 2016.
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The ocean carriers’ jointly operated North Europe Express (NE1) service, which connects Israeli ports with Northern Europe, operates with five vessels with an average capacity of 5,093 TEUs, according to BlueWater Reporting.
The third-busiest port complex in North America has spent billions raising the Bayonne Bridge and dredging New York harbor in preparation for larger containerships.
The mid-Atlantic port handled 232,148 TEUs for the month, with loaded container imports growing 9.5 percent and loaded exports up 3.3 percent from the previous March, according to the most recent figures from the Virginia Port Authority (VPA).