The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
The e-commerce giant may have competition in its bid for Dubai-based online retailer Souq.com, however, as Emaar Malls has submitted a competing offer, according to reports from multiple media outlets.
The Greenock Ocean Terminal, Scotland’s deepest container terminal, has projected its container volumes will double between now and 2021 thanks to the new Liverpool2 terminal that opened late last year.
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The new South Korean carrier has started two of five planned intra-Asia strings this week, is commencing a transpacific service in mid-April, and reportedly wants to launch a service to Savannah and New York in 2018.
BlueWater Reporting has provided an update on what information is available in regards to the new ocean carrier alliance networks scheduled to take effect in April.
Ocean carriers entering the market in 2010 and 2011 had a tough time, but SM Line said it believes it is timing its entrance into the transpacific market well, noting how freight rates are improving.