The Houston-based tank barge operator’s net earnings fell 27.8 percent year-over-year in the first quarter of 2017 to $27.5 million.
In segments described as liner or containership operations, NYK, MOL and “K” Line reported a combined loss of 77 billion yen (U.S. $691 million) for the fiscal year ending March 31, 2017, resulting from historically low freight rates.
United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.
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House members question whether the Shipping Act should be revised, and also said there is a need to protect domestic tugboat and terminal companies.
Malaysian port operator MMC Port Holdings will partner with Adani Ports and Sime Darby Property under a memorandum of understanding to study the feasibility of developing an integrated maritime city on Carey Island, Malaysia.
Freight invoicing errors are bleeding shippers, NVOs and even carriers, one small cost at a time.