Annualized turnover rates at large truckload fleets fell another 2 percentage points to 81 percent in the third quarter of 2016, the lowest level since second quarter 2011, according to the American Trucking Associations.
The chief and second engineers of the Top Ship cargo vessel were sentenced Thursday to jail for their role in obstructing a U.S. Coast Guard inspection in July 2015 on board the ship in North Carolina’s Port of Wilmington.
The third-party logistics provider subsidiary of German railway company Deutsche Bahn will combine its air and ocean freight division with its land transport division, as well as create a new division called Commercial DB Schenker and Contract Logistics.
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Following Hanjin Shipping filing for receivership, Hyundai Merchant Marine will start up two new services, one between Korea and the U.S. and one between Korea and Europe.
Japan's three largest ocean carriers said Monday in Tokyo they will merge their container operations in mid-2017 to form what would be the sixth largest line, continuing a recent trend of industry consolidation.
The shipping industry is being roiled by Hanjin’s decision to file receivership, with spot rates surging, cargo being stranded on vessels, and now lawsuits are being filed by shipowners.