The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
The e-commerce giant may have competition in its bid for Dubai-based online retailer Souq.com, however, as Emaar Malls has submitted a competing offer, according to reports from multiple media outlets.
The Greenock Ocean Terminal, Scotland’s deepest container terminal, has projected its container volumes will double between now and 2021 thanks to the new Liverpool2 terminal that opened late last year.
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The Spanish government will face strikes at all ports across the country later this month, according to International Transport Workers’ Federation (ITF) Maritime Operations Coordinator Jacqueline Smith.
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 U.S. Justice Department said Friday that 11 individuals and one foreign company have been charged by the Treasury Department for their role in illegally exporting goods to Syrian Arab Airlines.