XPO Logistics said the sale of its truckload operations includes approximately 3,000 tractors, 7,500 trailers and 29 facilities it acquired in its October 2015 purchase of Con-way Inc., and proceeds will be used to pay down debt.
The less-than-truckload carrier reported a net income of $85.6 million on revenues of $782.6 million for the third quarter of 2016, year-over-year increases of 1.4 percent and 0.4 percent, respectively.
Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
Registration takes less than 1 minute.
Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.
The Water Resources Development Act was passed by the U.S. House of Representatives Wednesday and will now go to a House-Senate conference committee tasked with merging each chamber's bill into a single version.
The International Longshore and Warehouse Union and the Pacific Maritime Association said exploratory contact extension talks are tentatively set for Nov. 1-2.