Mohab Mamish, chairman of Egypt’s Suez Canal Authority, told the Wall Street Journal the authority is asking regular users of the canal to pay for fees as much as five years in advance in return for a 3 percent discount.
The port terminal operator arm of the recently merged China COSCO Shipping saw net profits from continuing operations tumble 37.3 percent to $43.9 million in third quarter 2016 despite a 3.3 percent increase in revenues compared with the previous year.
The U.S. International Trade Commission has determined the domestic industry is harmed by imports of welded stainless steel pressure pipe from India, which Commerce determined is subsidized and sold in the United States at less than fair value.
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DHL Supply Chain has purchased a 100 percent stake in Carugate, Italy-based MIT Safetrans, which specializes in high value logistics services in the technology, pharmaceutical, banking and vending sectors, for an undisclosed price.
DHL’s eCommerce Singapore division has introduced a “hybrid” shipping product called Parcel International Direct Australia aimed specifically at online retailers in Singapore looking to expand their business in Australia.
Assets related to the South Korean shipping company’s services to the United States will be put up for sale as soon as tomorrow, multiple press reports said Thursday.