The Hong Kong-based third-party logistics provider increased earnings in 2016, and looking ahead, expects to complete the acquisition of a controlling stake in a Dubai-based freight forwarding group in May.
However, the global port operator increased container throughput by 5.5 percent from 2015.
Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.
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German ocean carrier Hapag-Lloyd and United Arab Shipping Company are shifting the long-stop date under the Business Combination Agreement (BCA) to May 31.
Canadian International Freight Forwarders Association (CIFFA) Executive Director Ruth Snowden said trade is an important source of jobs for the country.
Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.