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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Sources said the South Korean liner carrier will lay off about 180 members of its 500 person workforce in the United States on Friday.
Ocean carrier schedule and capacity database BlueWater Reporting has released a report detailing all services on which Hanjin Shipping operated at the time of its insolvency filing.
Scheduled to commence in March 2017, the new direct route between its hub at London Heathrow and New Orleans International Airport will be the first of its kind, the global airfreight carrier said in a statement.