Transport revenue increased by 10.7 percent due to an increase in ocean freight rates as a result of space constraints with carriers, partially offset by a decline in shipments. Demurrage revenue was also down on the prior year.
Fourth quarter operating profit was $16.6 million, an increase of 16.8 percent from $14.2 million in Q4 2023 as liner space constraints, out of Asia in particular, increased transport margins.