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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The Danish ocean carrier’s plan to acquire Hamburg Süd in 2017 caps a landmark year for consolidation in the container shipping industry, noted Mario Cordero, the chairman of the Federal Maritime Commission.
The South Korean liner carrier’s bankruptcy, which resulted in hundreds of thousands of shipments around the world being delayed, was the biggest in the container shipping industry since the 1986 bankruptcy of U.S. Lines.
The Israeli container carrier told American Shipper Friday it is rejecting the rumor that it has intentions to sell its global shipping operations to instead become a regional Mediterranean carrier.