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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American Shipper has launched a short survey to collect feedback on how the industry expects to be affected by the new ocean carrier alliances that launched at the beginning of the month.
Michael Khouri, acting chairman of the Federal Maritime Commission, said such pacts can help terminals improve service and operations to benefit the American shipper and consumer.
A Hapag-Lloyd spokesperson told American Shipper space is tight on the Europe to Asia trade right now from an uptick in volumes, which is abnormal for this time of year.