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The third-party logistics provider increased net income and revenues by 15.1 percent and 3 percent, respectively, in the first half of 2015 compared to the same period last year.
Profits increased compared to the same 2014 period despite lower revenues and volumes due to the ocean carrier leaving certain trades and weak demand on Asia-Mediterranean routes.
CMA CGM, UASC and CSCL, members of the Ocean3 Alliance, have added vessels and increased total rotation time on its Asia-North Europe AEX7/AEC8 and Asia-Mediterranean MEX loops, according to BlueWater Reporting.
An informal poll of private carriers by Stifel's transportation group found that carriers have been able to push through contract price increases in the 4 to 8 percent range despite lower than expected demand.
A new whitepaper by American Shipper, in collaboration with the Virginia Maritime Association, tackles some of the thorny problems behind cargo delays at key U.S. ports.