The Taiwanese ocean carrier reported a loss of 14.91 billion Taiwan new dollars (U.S. $492.1 million) for the full year in 2016 compared with TWD 6.46 billion the previous year, according to the company’s latest filing with the Taiwan Stock Exchange.
Walmart is opening an import distribution center in Mobile, Ala., which is expected to boost cargo volumes at APM Terminals Mobile by 10-20 percent.
The world’s fourth largest container shipping line, COSCO Shipping, experienced the 9.9 billion yuan (U.S. $1.44 billion) loss due to weak freight rates and restructuring costs, Reuters said Thursday.
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The two ports says the plan is an "innovative collaboration that will allow us to find new ways to become more efficient and effective."
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.
Michael A. Khouri is replacing Mario Cordero as acting chairman of the Federal Maritime Commission, but Cordero will remain as one of the five commissioners.