The Taiwanese ocean carrier reported a loss of 14.91 billion Taiwan new dollars (U.S. $492.1 million) for the full year in 2016 compared with TWD 6.46 billion the previous year, according to the company’s latest filing with the Taiwan Stock Exchange.
Walmart is opening an import distribution center in Mobile, Ala., which is expected to boost cargo volumes at APM Terminals Mobile by 10-20 percent.
The world’s fourth largest container shipping line, COSCO Shipping, experienced the 9.9 billion yuan (U.S. $1.44 billion) loss due to weak freight rates and restructuring costs, Reuters said Thursday.
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South Korean shipyards exited the business of making cranes a decade ago because of stiff compeitition from Chinese makers.
The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
The nationwide trucker and third-party logistics provider said it hopes to raise between $281 million and $359 million with the initial public offering, and provided details on how it plans to use the proceeds.