The deferred airfreight transportation services and drayage provider attributed the loss primarily to one-time costs associated with its acquisition of TQI, which accounted for $27.4 million ($0.90 per diluted share) of the second quarter 2016 net loss.
The Montreal, Canada-based Class I railway posted a net income of C$858 million (U.S. $649.8)on revenues of C$2.8 billion for the second quarter of 2016, a year-over-year drop of 3 percent and 9 percent, respectively.
The Dubai-based container terminal operator posted a cargo throughput of 31.4 million TEUs at its container terminals in the first six months of 2016, a 1.2 percent increase from the same 2015 period on a like-for-like basis.
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Rolf Habben Jansen, the chief executive officer of ocean carrier Hapag-Lloyd, said he believes consolidation in the shipping industry resulting from deals such as Monday’s merger agreement between Hapag-Lloyd and UASC will benefit the container industry.
U.S. beef producers and exporters now have access to Saudi Arabian consumers after nearly four years of being shut out of the Middle Eastern market due to the detection of an “atypical” case of “mad cow” disease in 2012.
The Honolulu-based shipping company has entered into an agreement to acquire Span Alaska, which has doubled in size during the past year through the acquisition of Pacific Alaska Freightways.