FedEx Corp. completed its $4.9 billion acquisition of TNT Express and will start integrating the European company into its network immediately.
The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.
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Consolidation in the ocean shipping industry is causing drastic changes to the current carrier vessel sharing agreements, but how will it all play out? American Shipper CEO Hayes Howard discusses some of the possible alliance scenarios.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.
An American Shipper report released Tuesday found that nearly three-quarters of shippers and forwarders believe they will have containers held when the new verified gross mass mandate kicks in July 1.