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 United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The widening of the basin entrance now allows for bigger vessels to pass through safely and efficiently.
The shipping research and consulting firm said container carriers have a “golden opportunity to smooth out the capacity peaks in the coming years” by deferring the delivery of the ships they have on order, but probably won’t take full advantage of it.