Investment firm Ridgemont Equity Partners will purchase third-party logistics provider Worldwide Express and merge it with portfolio company and fellow 3PL Unishippers Global Logistics to create a new firm called Worldwide Express Global Logistics.
Hunter Harrison, retiring president and CEO of the Calgary-based Class I railway, has apparently decided to cut his remaining time with the company short, and may be eyeing U.S. railroad CSX as his next move.
Terminal Investment Limited - jointly owned by MSC and Global Infrastructure Partners - will become the largest owner of Total Terminals International, which Hyundai Merchant Marine will also own a stake in.
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Fellow Japanese ocean carrier “K” Line exited the Transpacific Stabilization Agreement Aug. 19, while MOL, the other major ocean carrier based out of Japan, left the group in 2008.
The transportation and logistics industry has experienced a notable year between Hanjin’s bankruptcy, the new verified gross mass regulation and the expanded Panama Canal.
The U.S. maritime regulator granted the five-member ocean carrier alliance approval to take effect Dec. 19.