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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The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
Starting next week, the terminal will be the first of six facilities within the Port of New York and New Jersey to roll out the port authority's new Truck Management System.
President-elect Donald Trump warned German automakers of a 35 percent tariff on imports from Mexico if they continue producing cars there instead of building them in the United States.