The combined companies will have gross revenues approaching $1 billion and will manage more than 700,000 intermodal, truckload and less-than-truckload shipments annually.
The Houston, Texas-based tank barge operator posted a net income of $32 million for the quarter, a 43.7 percent drop from $56.8 million in the third of quarter 2015, according to the company’s most recent financial statements.
The Oak Brook, Ill.-based milti-modal transportation management company saw net income fall 9.6 percent to $17.9 million in the third quarter of 2016 despite a 3.7 percent increase in revenues compared with the same 2015 period.
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The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.
Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.
Sources said the South Korean liner carrier will lay off about 180 members of its 500 person workforce in the United States on Friday.