Wind Point Partners will acquire the Kearny, N.J.-based asset-light third-party logistics provider for an undisclosed sum as it attempts to expand its portfolio of transportation and supply chain services companies in the United States.
Number four U.S. railway Norfolk Southern reported net income of $405 million for the second quarter compared with $433 million during the same 2015 period, according to the company’s most recent financial statements.
Gerry Wang, chief executive officer of Seaspan, expressed how he believes the industry will gradually improve if scrapping remains high and new ship orders remain low.
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The 8,530-TEU CSCL container vessel Xin Fei Zhou scraped its side against the wall of one of the recently inaugurated locks of the important Central American waterway, according to a report from the Associated Press.
Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
The A.P. Moller-Maersk Group, parent company of Danish liner carrier Maersk Line, has named Soren Skou as its new chief executive officer.