Weaker transshipment and intra-Asia cargo dragged down throughput and revenue at Hutchison Port Holdings.
The decision ends decades of indecision that has been condemned by UK business leaders, shippers, and freight forwarders.
A tariff hike for the DP World facility in Cochin Port could make shippers using the terminal rethink their decision.
China’s top ports booked a healthy rise in throughput year-over-year in September.
After years being bandied about, a planned $3 billion container terminal on the Georgia-South Carolina border took a major step forward last week when the US Army Corps of Engineers formally began its review of the project.
Hanjin Shipping is negotiating with the terminal operating subsidiary of Mediterranean Shipping Co. to purchase its TTI terminal in Long Beach, but MSC has a minimum annual financial commitment at another terminal in the port.
The largest US truckload carrier cut more than 1,600 tractors from its overal fleet in the past year, but added 130 trucks to its dedicated business, which increased revenue and profit.
Maryland governor pledges to reapply for federal funding for Howard Street tunnel.
DHL has settled on its general rate increase for 2017.
Multiple calls by large vessels on certain days of the week, known as vessel bunching, are straining the equipment and labor resources at US ports and presenting a growing threat to productivity at container terminals.