Sens. Mike Lee and Amy Klobuchar wrote a letter to the United States attorney general’s office saying Canadian Pacific’s proposed takeover of Norfolk Southern Corp. could “limit the ability of the STB to protect competition.”
Seaspan reports strong Q4, full-year financial results
The independent containership owner and manager reported net earnings of $199.4 million on revenues of $819 million for 2015, year-over-year increases of 51.9 percent and 14.2 percent, respectively.
CMA CGM 2015 profits, revenues drop despite increased volumes
The third largest container carrier saw net profits in 2015 decrease 2.9 percent to $567 million on revenues that fell 6.4 percent to $15.7 billion compared with the previous year, according to the company’s most recent financial statements.
Ocean carriers enhance Asia-ISC loops
NYK is joining the joint Hapag-Lloyd, “K” Line, Simatech, Evergreen Line and Yang Ming operated SWACO-8/CIX-2, which is adding a call at Mundra, next week, while the SWACO-1/INDFEX-1, operated by Wan Hai, PIL, SCI and “K” Line, is adding a call at Pipa…
Port of Salalah signs MOU with Iranian ports
The Omani port signed a memorandum of understanding with two Iranian ports to facilitate trade growth between the two nations.
Forth Ports enters land purchase agreement at Tilbury
The United Kingdom-based port owner and operator entered into an agreement to purchase 152 acres of land just east of the Port of Tilbury, which will expand the port’s coverage to 1,100 acres.
Wärtsilä: Shortcuts led to improper testing of ship engines
The commercial engine manufacturer said an internal audit has revealed fuel consumption tests for around 2 percent of its four-stroke marine engines understated consumption by about 1 percent.
Port of Charleston goes solar
The South Carolina Ports Authority plans to bring in additional revenue by leasing rooftop space to a solar energy provider, which will then make money by selling the power generated by the panels to utility company South Carolina Electric & Gas.
Moody’s forecasts sluggish global growth, but no recession
Low crude prices are hurting oil exporting nations, but the savings to oil consuming countries are helping to offset weak economic conditions around the world, according to the credit rating agency Moody’s Investor Service.
NEWS FLASH: CMA CGM earnings, revenues drop despite increased volumes
The third largest container carrier saw net profits in 2015 decrease 2.9 percent to $567 million on revenues that fell 6.4 percent to $15.7 billion compared with the previous year, according to the company’s most recent financial statements.