The transportation management company posted a net income of $20.7 million on revenues of $856 million for the second quarter of 2016.
Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.
The Dubai-based port terminal operator signed a 30-year lease with Port Saint John on the East Coast of Canada to operate its West Side Container Terminal, DP World and port officials said in a joint statement Thursday.
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Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
After a weak first quarter in 2016, east-west capacity rebounded slightly in advance of the traditional summer peak season, but overcapacity, decreased volumes and low rates continued to drive carriers into the ever-changing alliance game.
The intermodal center, which is scheduled to commence operations in the late summer of 2018, will enable shippers from surrounding states to more easily reach the Port of Savannah by rail instead of truck, the Georgia Ports Authority said.