The Montreal, Quebec-based supply chain solutions provider saw net profits jump 63.5 percent from the prior year period to $888,000 Canadian as revenues grew 11.5 percent to C$17.4 million, according to the company’s most recent financial statements.
The 2017 Great Lakes Shipping Season officially kicked off Tuesday, while the Soo Locks in Saulte Ste. Marie, Mich. are scheduled to open March 25.
Kuehne + Nagel CEO Dr. Detlef Trefzger said the global third-party logistics provider increased market share in all business units in 2016.
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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 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.
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.