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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Assets related to the South Korean shipping company’s services to the United States will be put up for sale as soon as tomorrow, multiple press reports said Thursday.
American Shipper has profiled the founders of four companies - Haven, ClearMetal, Flexport and Xeneta - that are presenting a unique approach to technology application in ocean freight.
Two German shipping companies that owned and operated the cargo vessel Nils B have pleaded guilty before a federal court in San Diego on Tuesday to charges of dumping oily bilge into the sea.