The Atlanta-based parcel giant reported increased revenues in all of its business segments, and surpassed analyst expectations with an earnings per share of $1.32 for the quarter.
The port terminal operator arm of China COSCO Shipping saw earnings sink 65.6 percent to $37.6 million in first quarter 2017 despite a 7.5 percent increase in container throughput compared with the same 2016 period.
The London-based shipping research and consulting firm said that even though freight rates fell seasonally in the first quarter of 2017, they are better than they were in 2016.
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Newbuild orders for shipyards in China fell 25.4 percent year-over-year to 5.54 million deadweight tons in the first quarter of 2017 amid continued weakness in demand, according to a report from the China Association of the National Shipbuilding Industry.
The Jacksonville, Fla.-based Class I railway saw net earnings tick up 1.6 percent to $362 million for the quarter even as revenues jumped 9.6 percent to $2.87 billion compared with the same 2016 period.
Wilh. Wilhelmsen ASA and Wallroll AB, joint owners of Wallenius Wilhelmsen Logistics, EUKOR Car Carriers and American Roll-on Roll-off Carrier, have created a new ownership structure to enhance efficiency and increase cooperation between affiliates.