The Mississippi ports signed cooperative agreements with the Cuban government in Havana earlier this week despite uncertainty surrounding U.S. relations with the Communist Caribbean island, according to a report from Reuters news service.
XPO Logistics Chairman and CEO Bradley Jacobs said strong e-commerce growth more than offset the weak intermodal environment during the quarter.
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
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However, COSCO SHIPPING Holdings said it does expect to have earnings before interest and tax of approximately 700 million Chinese yuan renminbi for the fourth quarter of 2016, excluding the net loss it incurred from the demolition of vessels.
President Donald Trump threatens to impose a tax of up to 20 percent on Mexican imports as part of a plan to construct a wall between Mexico and the United States.
Of the 98 ships in Hanjin's former fleet, 63 ships with close to 460,000 TEUs of capacity remain idle, 31 ships with 134,000 TEUs of capacity have been redeployed, and four ships with 15,000 TEUs of capacity were scrapped.