FedEx Corp. completed its $4.9 billion acquisition of TNT Express and will start integrating the European company into its network immediately.
The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.
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Rates from Shanghai to North Europe and the Mediterranean fell 13 percent and 13.2 percent, respectively, since last week, but several major ocean carriers plan to increase rates on these trades in the coming weeks.
Neither Ports America nor owner Oaktree Capital will discuss a possible sale of the nation's largest port terminal operator, but Yildirim Holdings President Robert Yildirim said talks have advanced to the "second round."
The Port of Savannah will weigh export containers at no cost to help shippers comply with new International Maritime Organization requirements for providing verified gross mass data to carriers.