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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The Canadian labor union said its 800 members will be in a legal strike position as of Feb. 6 at 12:01 a.m. eastern time.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
The Allied Pilots Association, the union that represents American Airlines’ more than 15,000 pilots, said it has lost confidence in Chief Executive Officer Doug Parker’s leadership abilities due to “questionable economic and strategic decisions.”