The third-party logistics provider’s earnings per share for Q3 2016 fell short of analyst expectations, largely due to net revenue margin pressure as contractual sell rates fell faster than spot buy rates, William Blair Equity Research said.
The port terminal operator arm of the recently merged China COSCO Shipping saw net profits from continuing operations tumble 37.3 percent to $43.9 million in third quarter 2016 despite a 3.3 percent increase in revenues compared with the previous year.
The National Retail Federation, the California Trucking Association Intermodal Conference and the Harbor Trucking Association have proposed a “joint powers authority” to oversee funding of night and weekend terminal operations.
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The Bonn, Germany-based parcel carrier said it will impose a 4.9 percent general average price increase for its U.S. account holders, effective Jan. 2.
U.S. beef export volumes in August, which were the highest since October 2014, rose 26.9 percent from August 2015 thanks to increased beef exports to Hong Kong, Korea, Japan and Mexico.
DHL’s new sorting center at its global air hub in Leipzig, Germany opened Thursday, enabling the company to sort bulkier and heavier shipments with automation, along with boosting the site’s handling capacity to 150,000 shipments per hour.