Richard G. Phillips will remain chief executive officer of Pilot Freight Services, and his family “will maintain a significant equity stake” in the company.
The freight broker and third-party logistics provider also said Wednesday it has completed the integration of truckload-oriented freight broker Command Transportation, LLC, which it acquired in June 2015 for $420 million.
The railroad transportation equipment manufacturer posted net earnings of $183.2 million in fiscal 2016, ended Aug. 31, a 5 percent decrease from the previous fiscal year, even as revenues reached a record $2.68 billion.
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Edward Greenberg, the association’s general council, said the Federal Maritime Commission’s revision would offer "much needed flexibility" to non-vessel-operating common carriers when including rate and surcharge changes in their service arrangements.
A new Visibility Benchmark Study from American Shipper also found that third-party logistics companies have a major problem delineating their cost to provide visibility to shippers.
The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.