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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CEO Nicolas Sartini said the period of uncertainty before its sale to CMA CGM is over and the brand is ready to flex its U.S. expertise and innovative spirit again.
Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."
Longshoremen and employers are meeting far in advance of the contract expiration date next year.