The Taiwanese ocean carrier reported a loss of 14.91 billion Taiwan new dollars (U.S. $492.1 million) for the full year in 2016 compared with TWD 6.46 billion the previous year, according to the company’s latest filing with the Taiwan Stock Exchange.
Walmart is opening an import distribution center in Mobile, Ala., which is expected to boost cargo volumes at APM Terminals Mobile by 10-20 percent.
The world’s fourth largest container shipping line, COSCO Shipping, experienced the 9.9 billion yuan (U.S. $1.44 billion) loss due to weak freight rates and restructuring costs, Reuters said Thursday.
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The Jacksonville Port Authority’s governing board on Wednesday voted to accept Chief Executive Officer Brian Taylor’s resignation, and appointed Eric Green, current senior director of government affairs for the North Florida port, to acting CEO.
Jakob Stausholm, chief financial officer at Maersk Line, said the Danish ocean carrier's gains in market share, utilization, and lower unit costs have been overshadowed by very low freight rates.
Starting in April, Hamburg Süd's cargo will be shipped on vessels in the 2M network, a carrier alliance consisting of Maersk Line and MSC.