For some ma­jor ship­pers, 2019 ended on a sour note

Antelope Valley Press - - BUSINESS -

NEW YORK — For ma­jor ship­ping com­pa­nies deal­ing with trade wars and a slow­ing global econ­omy, con­di­tions ap­pear to have de­te­ri­o­rated for some as 2019 came to a close. Global ship­ping and lo­gis­tics provider Ex­pe­d­i­tors In­ter­na­tional said Friday that it ex­pects fourth quar­ter op­er­at­ing in­come to fall be­tween $177 mil­lion and $183 mil­lion. CEO Jeffrey Musser cited trade dis­putes and slow­ing growth for a num­ber of na­tional economies.

The report comes a day af­ter the rail­road CSX re­ported a 7% de­cline in the freight it hauled dur­ing the fi­nal months of the year. Trans­porta­tion com­pa­nies are the worst per­form­ers across the mar­ket in trad­ing. Shares in truck­ing, rail­road and ocean ship­ping com­pa­nies are sell­ing off.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.