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.
Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
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The Bonn, Germany-based parcel carrier and logistics provider saw consolidated net profits soar 71.4 percent to 2.64 billion euros for the year, even as revenues slipped 3.2 percent to 57.33 billion euros.
XPO Logistics CEO Brad Jacobs commented on the contentious relationship between the union and his company after Teamster-affiliated protesters burst into one of the morning sessions at JOC’s TPM Conference in Long Beach, Calif.
With capacity in the ocean carrier industry continuing to outstrip demand levels, many are left wondering what carrier is next in line for a merger or acquisition.