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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Starting next week, the terminal will be the first of six facilities within the Port of New York and New Jersey to roll out the port authority's new Truck Management System.
The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.