U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
In addition to the six 13,010-TEU Hanjin Shipping vessels to be chartered to Maersk Line, a group led by HSH Nordbank could also acquire another three ships and lease them out to Maersk’s 2M Alliance partner MSC, according to multiple media reports.
The truckload transportation and logistics services provider reported a net income of $23.4 million on $280.5 million in revenues in the third quarter of 2016, year-over-year decreases of 22.9 percent and 6.5 percent, respectively.
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Energy analyst Monica Enfield said the A.P. Moller Maersk Group's oil business is at a crossroads in a market beset by unexpectedly low prices and for-sale assets.
Montreal, Canada-based Class I railway Canadian National saw net income for the third quarter of 2016 fall 2.9 percent to C$972 million (U.S. $727.6 million) on revenues that slid 6 percent to C$3.01 billion compared with the same 2015 period.
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.