Although the non-asset-based third-party logistics provider saw revenues fall 6.9 percent year-over-year in the second quarter of 2016 to $3.3 billion, net income rose 4.3 percent year-over-year to $143.1 million.
The Port of Long Beach Harbor Commission President has been re-elected, while TIACA appoints European Shippers' Council chairman to its board.
The U.S. Gulf Coast port handled 1.09 million TEUs during the first half of 2016, a 4 percent decline from the corresponding period in 2015.
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The rating agency acted negatively to the idea that the A.P. Moller - Maersk conglomerate could potentially choose to divide into separate companies, noting the split could hurt the group's business diversification.
Both carriers have refuted analyst reports that industry leader Maersk Line intends not just to bring Hyundai Merchant Marine into the 2M Alliance it shares with MSC, but to merge with or buy the struggling South Korean line.
William E. (Bill) Woodhour became president of Maersk Line, Ltd. (MLL) July 1 and will eventually become chief executive officer of the company, taking over from Russ Bruner, who has been president and CEO of MLL since 2014.