Maersk Line, Mediterranean Shipping Co. and more than a dozen other carriers will revise their pricing practices to avoid fines and end an EU antitrust suit and investigation.
APM Terminals reported a 27.3 percent drop in net profit for 2015 as its container throughput declined by 5.9 percent because of divestments and weak volumes in some markets, parent A.P. Moller-Maersk Group said.
China Merchants Group plans to build a new outer seaport on the basis of the existing Klaipeda seaport in Lithuania, one of the largest seaports in the Baltics, while investing in in Klaipedos Smelte, the largest loading company in the port, according to recent statements from Arturas Drungilas, director of marketing and general affairs for the Klaipeda seaport.
A new retail services division and steady automotive demand helped push Pilot Freight revenue higher last year despite falling fuel surcharges and a sluggish economy.
Container shipping demand and capacity are matching up better after the latter greatly outpaced the former in the last three months of 2015, but it’s too soon to tell if the improvement will hold, said Nils Smedegaard Andersen, CEO of Maersk Group.
Jawaharlal Nehru Port Trust, India’s biggest, public, container handler, has relaxed conditions set earlier for using its “direct port delivery” facility for clearance of import cargo from its own terminals.
The White House’s $4.1 trillion budget proposal unveiled Tuesday once again falls far short of the targets set by legislation President Obama, himself, signed less than two years ago.
Hapag-Lloyd says there was a 65 percent increase in improperly declared hazardous cargo it carried last year, the latest sign of how dangerous goods could disrupt supply chains through accidents such as those that took place recently in China and Brazil.
Containerized imports at U.S. ports are projected to increase by double digits in January and February compared to the same months last year, when dozens of vessels were stranded outside of West Coast ports due to labor problems.
Canadian Pacific Railway said Tuesday it plans to submit a resolution asking Norfolk Southern Railway shareholders request their board of directors engage in “good faith discussions” with CP regarding its proposed merger, the newest approach after the Calgary-based company has been rebuffed three times.