The Hong Kong-based third-party logistics provider increased earnings in 2016, and looking ahead, expects to complete the acquisition of a controlling stake in a Dubai-based freight forwarding group in May.
However, the global port operator increased container throughput by 5.5 percent from 2015.
Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.
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The ocean shipping electronic marketplace has paid an undisclosed sum for Avantida, a cloud-based provider of solutions, to better manage empty containers.
Korea Investor Service, an affiliate of Moody's, upgraded Hyundai Merchant Marine’s corporate credit rating after the carrier saw revenues decline and a larger operating loss in 2016, while the bottom line improved.
In an industry first, the vessel sharing agreement between Hapag-Lloyd, Yang Ming, NYK, MOL and "K" Line, also established an independent trustee to manage funds to be used in the event one of the carriers within the group becomes insolvent.