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.
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The National Hurricane Center issued a public advisory at 11:00 a.m. EDT that said the Category 4 Hurricane off the coast of Haiti is moving north at 10 miles per hour.
The families of the victims who died aboard the El Faro, which sank Oct. 1, 2015 during Hurricane Joaquin, lost a request for a summary judgement finding that the doomed cargo ship was unseaworthy.
Watco Supply Chain Services has introduced a new international division that will operate as a registered non-vessel operating common carrier and an indirect air carrier, the company said in a statement.