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.
The Hong Kong-based ocean carrier's container volumes increased 7 percent year-over-year, while revenues rose 6.4 percent from the corresponding 2016 period.
The Japanese postal, banking and insurance conglomerate now expects to post a net loss of 40 billion yen (U.S. $362.4 million) for its fiscal year ended March 31, 2016, after taking a 400.3 billion yen writedown on Australian logistics arm Toll Holdings.
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American Shipper has launched a short survey to collect feedback on how the industry expects to be affected by the new ocean carrier alliances that launched at the beginning of the month.
Hyundai Heavy Industries Group is pushing ahead with new investments, and plans to more than double its number of researchers in the wake of its official split into four separate companies.
However, export volumes during the month fell 5.3 percent from March 2016 as shipments to overseas markets experienced headwinds from the strong U.S. dollar.