The New Wave Group, a wide-ranging manufacturer whose brands include Craft, Speedo, Pax, Ahead, Clique and Kosta Boda, signed an exclusive three-year contract with DHL Global Forwarding for ocean transportation.
Workhorse Group has developed an eight-rotor “octocopter” called HorseFly designed to be used in tandem with its electric package delivery trucks, some of which are in service with companies like FedEx and UPS.
The ocean carrier reported a net loss of 7.21 billion yuan renminbi in the first six months of the year compared with a 1.97 billion yuan renminbi profit in the same 2015 period amid its merger with fellow state-run line China Shipping.
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The port terminal operator division of China COSCO Shipping Corp. posted net profits attributable to equity shareholders of the company of $171.9 million on revenues of $275 million, year-over-year declines of 8.1 percent and 0.6 percent, respectively.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
Representatives from the U.S. Embassy in Beijing met with the director general of China's Inspection and Quarantine Ministry to gain more information about how shippers can comply with China’s requirement that shipments from the nation be mosquito-free.