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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Energy analyst Monica Enfield said the A.P. Moller Maersk Group's oil business is at a crossroads in a market beset by unexpectedly low prices and for-sale assets.
Thousands of chassis in and around the ports of Los Angeles and Long Beach have containers mounted on them that are either owned or leased by the now insolvent ocean carrier Hanjin Shipping.
The second-phase of expansion at the Virginia International Gateway container terminal will soon commence now that the Virginia Port Authority has secured a long-term commitment to operate the facility.