The Taiwanese ocean carrier reported a loss of 14.91 billion Taiwan new dollars (U.S. $492.1 million) for the full year in 2016 compared with TWD 6.46 billion the previous year, according to the company’s latest filing with the Taiwan Stock Exchange.
Walmart is opening an import distribution center in Mobile, Ala., which is expected to boost cargo volumes at APM Terminals Mobile by 10-20 percent.
The world’s fourth largest container shipping line, COSCO Shipping, experienced the 9.9 billion yuan (U.S. $1.44 billion) loss due to weak freight rates and restructuring costs, Reuters said Thursday.
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Shippers and logistics service providers continue to improve the nature of their strategic relationships, recognize the value of technology and innovation, and forecast growth outside their traditional businesses, according to an eyefortransport report.
BlueWater Reporting has illustrated how ocean carrier alliances have taken over the Asia-Europe and transpacific trades over the years, as independent carriers have all but disappeared from these trades.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.