The Port of Houston authority announced its new policy on container weights, as well as container throughput for the the first quarter and developments with ongoing infrastructure improvement projects.
Overall revenues for NYK, MOL and "K" Line fell 5.4 percent, 6 percent and 8.1 percent, respectively, for the last fiscal year ended March 31, 2016.
The Atlanta, Ga.-based parcel giant posted a net income of $1.1 billion for the first quarter of 2016 on revenues of $14.4 billion, year-over-year increases of 10.2 percent and 3.2 percent, respectively.
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Sluggish global trade and the recession in China resulted in a nearly non-existent peak shipping last year, and from the looks of things 2016 isn’t shaping up to be much better, according to the latest World Liner Supply Report from BlueWater Reporting.
Absence of balanced SOLAS enforcement will lead to competition distortion and significant interruption to supply chains, European logistics organizations warn.
Meanwhile, the European Commission Competition Directorate has set a “provisional deadline” for a decision on CMA CGM's purchase of APL parent Neptune Orient Lines for this Friday, April 29.