The Greek port’s box volumes declined in 2016 from a year prior amid increased volumes at the car terminal, while revenues ticked up 3.6 percent.
While A.P. Moller-Maersk plans to narrow its focus to transportation and logistics, the foundation that owns a controlling stake in the company will move in its own direction, Ane Maersk Mc-Kinney Uggla said.
Activist investor Paul Hilal’s hedge fund was looking for a swift and amicable transition for outgoing Canadian Pacific President and CEO E. Hunter Harrison to join U.S. Class I railroad CSX, but negotiations have taken a decidedly hostile turn this week.
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NYK, “K” Line and MOL each reviewed the past year and plans for the future, including the new joint venture between the three companies, which they plan to form in July.
Japan's three largest ocean carriers said Monday in Tokyo they will merge their container operations in mid-2017 to form what would be the sixth largest line, continuing a recent trend of industry consolidation.
The World Container Index has increased by 62 percent since the bankruptcy of Hanjin at the end of August 2016, London-based shipping research and consulting firm Drewry said.