The international oil shipping services provider, which paid Bretta Tanker Holdings $15.1 million in the second quarter of 2016, saw profits for the first half of 2016 slip 11.3 percent year-over-year to $153.7 million.
The Port of New York and New Jersey, which experienced the second busiest June ever for box volumes, was called by a 10,077-TEU containership at the GCT Bayonne Terminal.
The U.S. gross domestic product increased 1.2 percent in the second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
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The Omaha, Neb.-based trucking and logistics company released a second quarter earnings forecast well below analysts’ estimates, blaming sluggish freight demand and higher driver pay for the shortfall.
Logistics costs for U.S. businesses rose 2.6 percent in 2015, while the largest component of logistics costs, transportation, grew only 1.3 percent during the year, according to a report from the Council of Supply Chain Management Professionals.
The MOL Benefactor has worked its way down the East Coast to Savannah after taking advantage of the wider Panama Canal to transport cargo from Asia.