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 commission said it has “reasonable grounds” to suspect the carriers engaged in collusive practices to fix incremental cargo rates from Asia to South Africa.
The association has called on the U.S. Customs and Border Protection to promulgate rules that require importers of low value goods to bear the same data requirements as shippers of goods over the de minimis level.
Eden Prairie, Minn.-based C.H. Robinson has been perfecting the concept of just-in-time logistics for more than 100 years, delivering fresh fruits and vegetables to customers across the United States and throughout the world.