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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Maritime consultancy Drewry found that approximately 80 percent of shippers won’t shift any volume from ocean to air to avoid disruptions caused by the verified gross mass rule scheduled to go into effect July 1.
Global container shipping lines will face one or two more years of pain as the industry consolidates amid overcapacity and weaker demand, Port of Long Beach CEO Jon Slangerup said.
The Swiss-based freight forwarding and logistics company is best known for its air and freight forwarding business, but has successfully added warehousing and distribution, along with related outsourced services, to its portfolio over the years.