The deferred airfreight transportation services and drayage provider attributed the loss primarily to one-time costs associated with its acquisition of TQI, which accounted for $27.4 million ($0.90 per diluted share) of the second quarter 2016 net loss.
The Montreal, Canada-based Class I railway posted a net income of C$858 million (U.S. $649.8)on revenues of C$2.8 billion for the second quarter of 2016, a year-over-year drop of 3 percent and 9 percent, respectively.
The Dubai-based container terminal operator posted a cargo throughput of 31.4 million TEUs at its container terminals in the first six months of 2016, a 1.2 percent increase from the same 2015 period on a like-for-like basis.
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The Northern California port’s container volumes were hindered by a slowdown in empty containers moving through the port.
The newly merged shipping conglomerate formed from the former companies COSCO and China Shipping has agreed to stop carrying shark fins on their ships, which are used as an ingredient in a popular soup served at banquets in China.
The United States Senate also confirmed the reappointment of Federal Maritime Commissioners Rebecca F. Dye and Michael A. Khouri, whose terms will now last until 2020 and 2021, respectively.