A total of 221 cargo theft incidents were reported in the United States during first quarter 2016, up 8 percent from the same 2015 period, but average loss value per incident fell 56 percent, according to the latest report from FreightWatch International.
Global container shipping lines will face one or two more years of pain as the industry consolidates amid overcapacity and weaker demand, Port of Long Beach CEO Jon Slangerup said.
South Korean shipping conglomerate Hyundai Merchant Marine, which said it is continuing efforts to stabilize its business, predicts that normalization of its business is only a matter of time.
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The world’s second largest shipbuilding company attributed the operating loss of 26.3 billion won in the first quarter of 2016 primarily to costs associated with completing offshore oil projects as crude prices continued to plummet.
Net orders for North American Class 8 trucks in April dropped 16 percent from March and 39 percent compared with April 2015, according to preliminary data from freight forecaster FTR Transportation Intelligence.
The Omaha, Neb.-based truckload carrier and logistics services provider has named former President and Chief Operating Officer Derek J. Leathers as its new chief executive officer, effective immediately.