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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The Danish shipping giant has confirmed it is selling its Brazilian cabotage subsidiary Mercosul Line in a preemptive move aimed at satisfying any potential competition concerns from Brazil’s Conselho Administrativo de Defesa Economica (CADE).
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.
The International Longshoremen’s Association is calling for a shutdown of ports along the Atlantic and Gulf Coasts, and a march in Washington.