The tank barge operator saw increased diesel revenues but fell flat on marine revenues and net earnings.
In segments described as liner or containership operations, NYK, MOL and “K” Line reported a combined loss of 77 billion yen (U.S. $691 million) for the fiscal year ending March 31, 2017, resulting from historically low freight rates.
United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.
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IAG Cargo names new chief executive, while Trans Global Projects Group hires chief executive officer of Natco Switzerland subsidiary.
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.