American Shipper

FMC reviews 6 OTI license applications

Integrity Logistics names VP of operations, while AirBridgeCargo Airlines’ executive VP resigns.

The U.S.-based marine transportation company, which has offices in Mobile, New York, Tampa and Shanghai, and its subsidiaries, have filed for Chapter 11 relief in the United States Bankruptcy Court for the Southern District of New York.

The U.S.-based marine transportation company, which has offices in Mobile, New York, Tampa and Shanghai, and its subsidiaries, have filed for Chapter 11 relief in the United States Bankruptcy Court for the Southern District of New York.

The U.S. gross domestic product increased 1.2 percent in the second quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.

The American Association of Port Authorities is concerned that local agencies with no nexus to ports are taking advantage of a federal program designed to help ports pay for security needs.

The Atlanta, Ga.-based parcel giant posted a net income of $1.27 billion for the second quarter of 2016 on revenues of $14.63 billion, year-over-year increases of 3.2 percent and 3.8 percent, respectively.

The German forwarder discussed at a press conference in Chicago Wednesday its $137 million investment plan in the U.S. domestic and cross-border e-commerce market, along with its vast expansion in the “Windy City.”

Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.

The U.S. International Trade Commission has recommended to the White House that certain changes to the country’s Harmonized Tariff Schedule be made to conform with the World Customs Organization’s amendments to the global harmonized system.

The Dubai-based port terminal operator signed a 30-year lease with Port Saint John on the East Coast of Canada to operate its West Side Container Terminal, DP World and port officials said in a joint statement Thursday.

The U.S. International Trade Commission said the Earned Import Allowance Program continues to fall short at boosting the Dominican Republic’s apparel exports to the United States.

Less-than-truckload holding company YRC Worldwide increased net income in second quarter 2016 4.2 percent to $27.1 million despite revenues falling 4 percent to $1.21 billion compared to the same 2015 period.

The Winston-Salem, N.C.-based BB&T Bank, which is facing profit pressure in account-based stock brokerage, will no longer provide equity research for freight transportation.

The transportation management company posted a net income of $20.7 million on revenues of $856 million for the second quarter of 2016.

SCI names new CEO, while the Louisiana governor appoints commissioner to the Port of New Orleans board.

Ocean carriers MOL, NYK and “K” Line all reported losses in their container segments and lower revenues year-over-year for the first fiscal quarter, which ended June 30.

The Panama Canal Authority said it is confident in the process it uses to move ships through the new locks at the canal, following an accident last week that damaged the Xin Fei Zhou after it made contact with one of the walls at the Agua Clara Locks.

Ocean carrier MSC has started investing in TRAXENS, a French start-up that produces technology for ocean container tracking.

Although activity increased from the first quarter, total deal volume and value in the transportation and logistics sector was still down 18 percent and 22 percent year-over-year, respectively, according to a new report from PricewaterhouseCoopers.