The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
The e-commerce giant may have competition in its bid for Dubai-based online retailer Souq.com, however, as Emaar Malls has submitted a competing offer, according to reports from multiple media outlets.
The Greenock Ocean Terminal, Scotland’s deepest container terminal, has projected its container volumes will double between now and 2021 thanks to the new Liverpool2 terminal that opened late last year.
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The Canadian labor union said its 800 members will be in a legal strike position as of Feb. 6 at 12:01 a.m. eastern time.
The International Longshoremen’s Association is calling for a shutdown of ports along the Atlantic and Gulf Coasts, and a march in Washington.
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.