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The Dubai-based port terminal operator was fighting a proposed 750 percent rent increase at Port of Melbourne.
“We’re reaping the benefits of a strong regional economy and labor uncertainty on the West Coast,” New York and New Jersey Port Director Richard Larrabee said of the results.
APM Terminals' Suez Canal Container Terminal (SCCT) at the northern end of the waterway will be the largest on the Mediterranean, according to the terminal operator.
The U.S. Maritime Administration is trying to find maritime applications for zero emission hydrogen fuel cells, which have the potential to provide cleaner air and reduce costs for shippers.
The group reported a 66.7 percent increase in net profits to $156 million on revenues of $4.2 billion for the second quarter.
A deal for GE Capital Rail Services, which has assets valued at over $4 billion, could come by Labor Day, according to initial reports from Bloomberg Business.