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.
Registration takes less than 1 minute.
The German ocean carrier is citing benefits from its planned merger with United Arab Shipping Company, but Reuters has reported a "snag" in those plans.
Gene Seroka, executive director at the Port of Los Angeles, said 2016 was an “epic” year, and in 2017, the port will focus on improvements in process management, information technology and land use.
What has been accepted as standard practice for decades - large shippers cementing big volume annual contracts with carriers and smaller shippers, forwarders and NVOs picking up the scraps on the spot market - is now being heavily scrutinized.