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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The Woodcliff, N.J.-based carrier welcomed its newest U.S.-flag roll-on/roll off ship to its fleet on Friday during a ceremony at the Port of Baltimore.
A new component of the Customs-Trade Partnership Against Terrorism gives eligible ocean carriers the ability to start unloading without having to wait for U.S. Customs officers to clear the vessel.
The Japanese ocean carrier has doubled the frequency of its automobile transport service between Thailand and Northern Vietnam to twice a month and shifted from calling Cai Lan to the port of Hai Phong, closer to the capital city of Hanoi.