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The Company provides tailored solutions and value-added services for its customers to drive effectiveness and control in related links throughout the entire shipping and freight logistics chain. The Company conducts its business primarily through its wholly-owned subsidiaries in the U.S., the People&#8217;s Republic of China, including Hong Kong (the &#8220;PRC&#8221;), Australia and Canada. 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The Company&#8217;s ship management services were operated by its subsidiary in Hong Kong. The Company&#8217;s shipping and chartering services were operated by its subsidiaries in the U.S. and subsidiary in Hong Kong. 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The amendments should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. 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