The container terminal operator posted a cargo throughout of 61.7 million TEUs at its container terminals in 2015, a 2.4 percent increase from 2014 on a like-for-like basis.
The company’s board elected current CEO David Abney to succeed the retiring Scott Davis as chairman and appointed William Johnson to the newly created position of lead independent director.
Carload traffic dropped 16.6 percent in January, but intermodal traffic grew 3.4 percent compared with January 2015, according to data from the Association of American Railroads.
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Canadian Pacific Railway Ltd. CEO E. Hunter Harrison said yesterday the workforce reduction will come from all areas of the company as slumping cargo volumes caused a 29 percent decline in fourth quarter profits.
Rates from Shanghai to Northwest Europe, the Mediterranean and the United States have all fallen in each of the past three consecutive weeks.
Rates from Asia to Northwest Europe and the Mediterranean have dropped for the past five consecutive weeks.