The Korean port’s increase in container volumes resulted from the Hanjin Incheon Container Terminal opening this year, Incheon Port Authority (IPA) President Yoo Chang-kuen said.
The commercial fleet management, dedicated transportation and supply chain solutions provider saw second quarter net earnings drop 14 percent to $74 million compared to the same 2015 period despite a 2 percent uptick in revenues.
The Dubai, United Arab Emirates-based global port terminal operator signed a memorandum of understanding with state-run Taiwan International Ports Corporation to build and operate Kaohsiung Port’s Terminal 7 in Taiwan.
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The terminal operator has joined a group of Nova Scotia business leaders and investment company Cyrus Capital Partners L.P. in plans to build 315-acre marine container terminal on the Strait of Canso.
The massive $5.3 billion project comes with “considerable safety concerns,” which could lead to accidents and delays for shippers and higher claims for insurers, according to a new report from the London-based risk management consultancy.
Ocean carrier Hyundai Merchant Marine, which has been struggling to turn a profit in recent years, signed a memorandum of understanding with 2M Alliance members Maersk Line and MSC to join their major east-west vessel sharing agreement.