United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.
The Hong Kong-based ocean carrier's container volumes increased 7 percent year-over-year, while revenues rose 6.4 percent from the corresponding 2016 period.
The Japanese postal, banking and insurance conglomerate now expects to post a net loss of 40 billion yen (U.S. $362.4 million) for its fiscal year ended March 31, 2016, after taking a 400.3 billion yen writedown on Australian logistics arm Toll Holdings.
Registration takes less than 1 minute.
The Gulf Coast port’s total tonnage spiked 11 percent year-over-year during the quarter, while containerized cargo volumes increased 18 percent.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.
However, export volumes during the month fell 5.3 percent from March 2016 as shipments to overseas markets experienced headwinds from the strong U.S. dollar.