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 London-based shipping research and consulting firm said expenses have been cut to the bone in the past two years, so increases would not be unexpected.
Five large terminal companies and the Port of Rotterdam Authority filed the “Global Ports Group Agreement” with the Federal Maritime Commission to promote the efficiency and effectiveness of the container port industry.
Islamic Republic of Iran Shipping Lines is ordering four 14,500-TEU containerships and six chemical/product tankers from the South Korean shipbuilder.