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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The recent declaration of bankruptcy by South Korean ocean carrier Hanjin Shipping is a symptom of what ails the container shipping industry, not the cure, as some analysts seem to suggest.
A construction project at the west African port officially began and will drastically increase the port’s container capacity.
The latest round of funding for freight forwarder Flexport shows early stage venture capital groups are nowhere near burned out on logistics technology startups.