The Taiwanese ocean carrier reported a loss of 14.91 billion Taiwan new dollars (U.S. $492.1 million) for the full year in 2016 compared with TWD 6.46 billion the previous year, according to the company’s latest filing with the Taiwan Stock Exchange.
Walmart is opening an import distribution center in Mobile, Ala., which is expected to boost cargo volumes at APM Terminals Mobile by 10-20 percent.
The world’s fourth largest container shipping line, COSCO Shipping, experienced the 9.9 billion yuan (U.S. $1.44 billion) loss due to weak freight rates and restructuring costs, Reuters said Thursday.
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The appointment of outgoing Canadian Pacific Chief Executive E. Hunter Harrison as CEO of Class I railroad CSX is still contingent on a shareholder vote over $84 million in benefits and equity awards he forfeited by leaving CP six months ahead of schedule.
The Doric Warrior, a 93,115-dwt bulk carrier, delivered steel slabs from Tuapse, Russia on the Black Sea to the new Paulsboro Marine Terminal along the Delaware River on Thursday.
The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”