FedEx Corp. completed its $4.9 billion acquisition of TNT Express and will start integrating the European company into its network immediately.
The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.
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Annual costs at container lines have increased a combined $500 million due to new sulfur emissions rules requiring vessels to use more expensive fuel, according to a report released last week by the Organisation for Economic Co-operation and Development.
The 4,650-TEU Safmarine Meru, the first ship on the 2M Alliance's new TP18/Lone Star Express service, had only 400 containers on board, while the other ship, the Northern Jasper, was off-hire, according to Maersk Line officials.
Shipment volumes and expenditures in April 2016 grew 0.6 percent and 0.2 percent, respectively, compared with March, but both remained well below 2015 levels, according to the latest Cass Freight Index Report.