The Atlanta-based parcel giant reported increased revenues in all of its business segments, and surpassed analyst expectations with an earnings per share of $1.32 for the quarter.
The port terminal operator arm of China COSCO Shipping saw earnings sink 65.6 percent to $37.6 million in first quarter 2017 despite a 7.5 percent increase in container throughput compared with the same 2016 period.
The London-based shipping research and consulting firm said that even though freight rates fell seasonally in the first quarter of 2017, they are better than they were in 2016.
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President Donald Trump has announced his intention to nominate former House Rep. Scott Garrett to lead the U.S. Export-Import Bank despite his outspoken opposition to the agency and what he called its “long legacy of crony capitalism.”
The South Coast Air Quality Management District proposed a tax on container shipments to fund incentives for further reducing ozone levels.
BlueWater Reporting illustrated the ports of Norfolk and Savannah rank as the top two U.S. East Coast ports for transpacific alliance services deploying capacity from Asia.