The Rome, Ga.-based freight broker’s purchase of Apex Freight Services will allow Scott Logistics to expand its market presence and contribute $20 million in additional annual revenues, according to a statement from the company.
Although activity increased from the first quarter, total deal volume and value in the transportation and logistics sector were still down 18 percent and 22 percent year-over-year, respectively, according to a new report from PricewaterhouseCoopers.
Echo posts strong second quarter Chicago-based Echo Global Logistics reported strong year-over-year increases in net income, revenues and truckload volumes during the second quarter of 2016.
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The U.S. Department of Transportation has announced 18 proposed grant awards totaling $759.2 million in funding for nationally significant transportation infrastructure projects under the Fixing America’s Surface Transportation (FAST) Act of 2015.
Ocean carrier Hyundai Merchant Marine, which has been struggling to turn a profit in recent years, signed a memorandum of understanding with 2M Alliance members Maersk Line and MSC to join their major east-west vessel sharing agreement.
The MOL Benefactor has worked its way down the East Coast to Savannah after taking advantage of the wider Panama Canal to transport cargo from Asia.