Cheaper production and material costs and sagging demand have contributed to the decline.
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Hapag-Lloyd revealed that the United Arab Shipping Company booked a loss in 2015 and is still losing money ahead of a shareholders’ meeting to clear the way for a merger.
Cosco Shipping Ports is tipped as a likely frontrunner in the bidding for a tender to build and operate a third container terminal at the southern Spanish port of Algeciras.
The idle container ship fleet is back to more than 1 million 20-foot-equivalent units after a brief dip in July.
DFDS raised its full-year outlook and increased profit following a strong second quarter at a time other transportation companies have posted losses or downgraded their full-year outlooks.
DP World’s profit surged in the first half and the global container terminal operator said it will continue to outpace market growth.
Hamburg has finally pulled out of the container slump.
Rickmers Group sank deep into the red in the first half.
HHLA’s operating profit slumped by almost one-fifth in the first half of the year.
The Chinese conglomerate will pay an additional 88 million euros for the extra 16 percent stake in Greece’s largest port.
Global container traffic will likely grow at the second-slowest rate since 2009.
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