The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
Richard G. Phillips will remain chief executive officer of Pilot Freight Services, and his family “will maintain a significant equity stake” in the company.
The freight broker and third-party logistics provider also said Wednesday it has completed the integration of truckload-oriented freight broker Command Transportation, LLC, which it acquired in June 2015 for $420 million.
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The valuation provider VesselsValue said that during the past year, the value of a 2016-built Panamax containership with 4,250 TEUs of capacity tumbled 49.57 percent, while the value of a 2016-built ship with 7,000 TEUs of capacity fell 32.27 percent.
Georgia Ports Authority Executive Director Griff Lynch said the Port of Savannah is quickly recovering from Hurricane Matthew, but cargo vessels are unable to reach the port until navigational aids are repaired.
The United States imported 2.99 million net tons of steel in August, an 8.5 percent month-over-month decline, driven down by lower volumes from Brazil and South Korea from a month prior.