XPO Logistics said the sale of its truckload operations includes approximately 3,000 tractors, 7,500 trailers and 29 facilities it acquired in its October 2015 purchase of Con-way Inc., and proceeds will be used to pay down debt.
The less-than-truckload carrier reported a net income of $85.6 million on revenues of $782.6 million for the third quarter of 2016, year-over-year increases of 1.4 percent and 0.4 percent, respectively.
Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
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The future size of feeder vessels will determine how much the legacy locks at the Panama Canal will be utilized by ocean carriers, compared to the new section for big ships.
New U.S. Customs regulations will make it easier to catch companies trying to avoid anti-dumping and countervailing duties.
Dallas-based Southwest Airlines will haul cargo on international flights for the first time one year from now, thanks to the airline replacing its point-of-sales system and back office system to accommodate international air cargo.