The commercial fleet management, dedicated transportation and supply chain solutions provider saw third quarter net income fall 6.3 percent to $85.1 million compared to the same 2015 period despite a 3.3 percent uptick in revenues.
Trucking and intermodal carrier Swift Transportation grew net income 4.7 percent year-over-year to $38 million in third quarter 2016 on revenues that slipped 4.9 percent to $1.01 billion compared with the same 2015 period.
Gross profits for the first nine months of 2016 remained practically unchanged from the same period last year, since the growth in air freight volumes offset the drop in ocean freight volumes, Panalpina CEO Stefan Karlen explained.
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Acquiring of one of the largest mail and parcel carriers in the United Kingdom will strengthen Deutsche Post DHL Group’s cross-border network and expand its customer base in Europe’s largest e-commerce market, according to a statement from the company.
The pilots of cargo plane operator Atlas Air Worldwide Holdings told the company they have “serious concerns” with the way a proposed contract with online retailer Amazon is currently being handled.
The International Transport Workers’ Federation criticized the U.S. Customs and Border Protection (CBP) saying it was told by CBP that it had concerns crew could try and jump ship due to the Hanjin situation.