The Shanghai Containerized Freight Index increased 11.3 percent from last week to a reading of 884.95, thanks to sharp increases from Shanghai to Northwest Europe and the Mediterranean.
The International Brotherhood of Teamsters has asked the National Mediation Board to investigate whether two subsidiaries of the Air Transport Services Group should operate as one.
Less-than-truckload holding company YRC Worldwide saw net income in third quarter 2016 slide 29.8 percent to $13.9 million, but earnings were still up 19.8 percent through the first nine months of the year compared to the same 2015 period.
European shipowners were relieved Thursday when the Belgian delegation to the EU and Canadian negotiations involving the Comprehensive Economic and Trade Agreement had agreed to move forward with the trade deal.
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.
The technology startup Otto and Budweiser have completed the world’s first shipment by a self-driving truck.
International Airlines Group subsidiary IAG Cargo had revenues of 240 million euros for the third quarter of 2016, down 7 percent from the third quarter of 2015.
Iranian national Mansour Moghtaderi Zadeh pleaded guilty Thursday to taking part in a conspiracy involving the purchase and shipment of aviation parts and supplies from the United States to Iran without an export license.
DHL Supply Chain picks transportation president, while Kane Is Able names senior VP of transportation and solutions.
The Greenwich, Conn.-based third-party logistics provider said it will use the $558 million in cash from TransForce to pay down debt.
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.
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.
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.
The Atlanta, Ga.-based shipping and logistics provider reported year-over-year increases in net income and revenues for the third quarter of 2016 despite pressure from changes in fuel surcharges and currency exchange rates.
The Northwest Seaport Alliance will release two new mobile applications, DrayQ and DrayLink, in early November as part of an effort to speed cargo flow through the ports of Seattle and Tacoma and along local freight corridors.
The U.S. Maritime Administration said the grants will support five initiatives designed to transport freight on rivers to help relieve congestion on highways and reduce diesel pollution from trucks.
A group led by the Competitive Enterprise Institute sent a letter to Congress calling the Surface Transportation Board’s proposal to increase reciprocal switching an “unlawful attempt to push the U.S. railroad industry back into the economic dark ages.”
The New-Zealand based company said the system is targeted at exporters and logistics companies needing to weight containers outside of ports and other high volume container hubs.
The combined companies will have gross revenues approaching $1 billion and will manage more than 700,000 intermodal, truckload and less-than-truckload shipments annually.
Tailwind Capital has acquired the third-party automotive logistics provider from Corinthian Capital Group for an undisclosed sum, according to statements from the firm and BB&T Capital Markets, which served as financial advisor to MetroGistics.
