However, the global port operator increased container throughput by 5.5 percent from 2015.
Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.
Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
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The port authority’s board of commissioners approved two contracts worth $217 million for 86 rail-mounted gantry cranes, with 60 of the cranes going to Norfolk International Terminals and the additional 26 cranes going to Virginia International Gateway.
The $10 million acquisition is expected to close early next year and will substantially expand the port.