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Stifel and research firm Transport Intelligence's Logistics Confidence Index, which measures confidence in European forwarding industry, declined for the fourth straight months as both ocean and airfreight markets suffered.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Ocean carrier members of the G6 Alliance announced they will void additional sailings on their Loop 1, Loop 4, Loop 5, Loop 6 and Loop 7 services between Asia and Europe.
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.