The Greek port’s box volumes declined in 2016 from a year prior amid increased volumes at the car terminal, while revenues ticked up 3.6 percent.
While A.P. Moller-Maersk plans to narrow its focus to transportation and logistics, the foundation that owns a controlling stake in the company will move in its own direction, Ane Maersk Mc-Kinney Uggla said.
Activist investor Paul Hilal’s hedge fund was looking for a swift and amicable transition for outgoing Canadian Pacific President and CEO E. Hunter Harrison to join U.S. Class I railroad CSX, but negotiations have taken a decidedly hostile turn this week.
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T.J. England, the chief legal officer for Salt Lake City-based trucking carrier C.R. England, said it intends to immediately appeal the decision.
New ship orders declined in 2016, driven down by overcapacity and sluggish global trade growth, and although devastating for shipyards and their workers, the drop may be necessary if the health of the container liner industry is going to be restored.
COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.