FASA

Although free trade deals can cause short-term job losses, the long-term economic gains far outweigh the costs and missed opportunities on the U.S. trade front will unfortunately be felt throughout the economy.

The Jersey City, N.J.-based bulk freight shipping services provider reported net income applicable to common stockholders for the fiscal year 2017 second quarter, which ended Sept. 30, tumbled 77.5 percent year-over-year to $2.6 million.

Envirotainer appoints CEO, while B&H Worldwide names regional director for Europe, the Middle East and Africa.

Hyundai Merchant Marine and Korea Line have submitted bids for Hanjin’s Asia-U.S. route, and a deal is expected to be reached at the end of the month.

Geneva, Switzerland-based Mediterranean Shipping Co. said it will form a new vessel sharing agreement with Maersk Line, Hamburg Sud and MOL on two Asia-Australia loops in May 2017.

The new super post-Panamax container crane capable of moving cargo on and off 14,000-TEU ships was damaged during set-up.

The integrated third-party logistics provider grew net profits in third quarter 2016 despite revenues slipping 7 percent year-over-year to 312 million Kuwaiti dinars (U.S. $1.03 billion), according to the company’s most recent financial statements.

FedEx Trade Networks, the freight forwarding subsidiary of FedEx Corp., has opened an office in Penang, Malaysia.

Hurricane Matthew caused extensive damage at the Freeport container terminal, forcing carriers to reroute vessels and take other steps to deliver cargo.

Singapore’s sovereign wealth fund will acquire P3 Logistics Parks, Europe’s largest logistics real estate developer and property manager, from TPG Cambridge and Ivanhoé Cambridge, P3 said in a statement.