However, the global port operator increased container throughput by 5.5 percent from 2015.
Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.
Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
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Ocean carriers entering the market in 2010 and 2011 had a tough time, but SM Line said it believes it is timing its entrance into the transpacific market well, noting how freight rates are improving.
An estimated 1.69 million TEUs of vessel capacity is expected to be delivered in the coming year, more than twice the amount projected to be sold for scrap, according to a recent report from maritime shipping analyst Alphaliner.
Total deal value and volume in the transportation and logistics industry for the full year in 2016 fell 31 percent and 6 percent, respectively, from the previous year, according to a new report from PricewaterhouseCoopers.