The Houston, Texas-based tank barge operator posted a net income of $32 million for the quarter, a 43.7 percent drop from $56.8 million in the third of quarter 2015, according to the company’s most recent financial statements.
Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
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The valuation provider VesselsValue said that during the past year, the value of a 2016-built Panamax containership with 4,250 TEUs of capacity tumbled 49.57 percent, while the value of a 2016-built ship with 7,000 TEUs of capacity fell 32.27 percent.
Transportation planners and industry executives briefed House lawmakers last week on progress made so far with implementing freight provisions of the FAST Act.
U.S. Customs and Border Protection will begin taking registration Thursday for its annual Trade Symposium, which will focus on how trade impacts health, safety and economic prosperity.