The port terminal operator arm of the recently merged China COSCO Shipping saw net profits from continuing operations tumble 37.3 percent to $43.9 million in third quarter 2016 despite a 3.3 percent increase in revenues compared with the previous year.
The U.S. International Trade Commission has determined the domestic industry is harmed by imports of welded stainless steel pressure pipe from India, which Commerce determined is subsidized and sold in the United States at less than fair value.
The third-party logistics provider’s earnings per share for Q3 2016 fell short of analyst expectations, largely due to net revenue margin pressure as contractual sell rates fell faster than spot buy rates, William Blair Equity Research said.
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Concurrent with the deal for Glencore Rail, the Australian subsidiary of short line and regional rail operator Genesee & Wyoming has issued a 49 percent equity stake to funds managed by Macquarie Infrastructure and Real Assets, the company said.
There is no shortage of technology for carriers and other parties in the ocean industry, but in the wake of the Hanjin mess, the question is what carriers should invest in.
The effects of the South Korean carrier’s decision to file for court receivership at the end of August is being felt widespread across thousands of businesses throughout the world.