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Unphased by a reported loss in the second quarter, fast-growing XPO Logistics is now projecting $23 billion in revenues by 2019, but the highly acquisitive company has sailed past similar projections regularly in its relatively short history.
The freight broker and transportation services provider's acquisition of rival brokerage Command Transportation during the quarter bolstered its financials, with the company now targeting $3 billion in revenues by 2018.
Ocean carriers Maersk Line, CMA CGM, MOL and OOCL issued general rate increases.
An informal poll of private carriers by Stifel's transportation group found that carriers have been able to push through contract price increases in the 4 to 8 percent range despite lower than expected demand.
CMA CGM, UASC and CSCL, members of the Ocean3 Alliance, have added vessels and increased total rotation time on its Asia-North Europe AEX7/AEC8 and Asia-Mediterranean MEX loops, according to BlueWater Reporting.
A new whitepaper by American Shipper, in collaboration with the Virginia Maritime Association, tackles some of the thorny problems behind cargo delays at key U.S. ports.