The deferred airfreight transportation services and drayage provider attributed the loss primarily to one-time costs associated with its acquisition of TQI, which accounted for $27.4 million ($0.90 per diluted share) of the second quarter 2016 net loss.
The Montreal, Canada-based Class I railway posted a net income of C$858 million (U.S. $649.8)on revenues of C$2.8 billion for the second quarter of 2016, a year-over-year drop of 3 percent and 9 percent, respectively.
The Dubai-based container terminal operator posted a cargo throughput of 31.4 million TEUs at its container terminals in the first six months of 2016, a 1.2 percent increase from the same 2015 period on a like-for-like basis.
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The Shanghai Containerized Freight Index fell 1.1 percent from last Friday, driven down by lower rates on the Shanghai to Northwest Europe and Mediterranean trades, which was partially offset by higher rates from Shanghai to the United States.
The agriculture shipper advocate praised container weighing methods recently outlined by the Ocean Carrier Equipment Management Association and G6 Alliance carriers, saying terminals nationwide should adopt similar methods.
The expanded Panama Canal locks, which just opened June 26 to handle vessels up to 14,000 TEUs, are expected to reshape U.S. East Coast port operations.