Although the non-asset-based third-party logistics provider saw revenues fall 6.9 percent year-over-year in the second quarter of 2016 to $3.3 billion, net income rose 4.3 percent year-over-year to $143.1 million.
The U.S. Gulf Coast port handled 1.09 million TEUs during the first half of 2016, a 4 percent decline from the corresponding period in 2015.
ZS Fund has acquired Amerijet Holdings, an operator of cargo aircraft under the name Amerijet International, along with logistics services subsidiary ITN Worldwide for an undisclosed sum.
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The U.S. Department of Transportation has announced 18 proposed grant awards totaling $759.2 million in funding for nationally significant transportation infrastructure projects under the Fixing America’s Surface Transportation (FAST) Act of 2015.
Ocean carrier Hyundai Merchant Marine, which has been struggling to turn a profit in recent years, signed a memorandum of understanding with 2M Alliance members Maersk Line and MSC to join their major east-west vessel sharing agreement.
The MOL Benefactor has worked its way down the East Coast to Savannah after taking advantage of the wider Panama Canal to transport cargo from Asia.