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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Analysts have speculated ZIM could be the next firm swept up in the wave of consolidation in the ocean shipping industry, but the Israeli carrier has outright rejected the idea it is looking to sell its global operations.
About 180 unionized Korean Air pilots seeking a 29 percent pay increase began a 10-day strike yesterday, causing the airline to cancel 148 passenger and cargo flights on domestic and international routes.
Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.