TNT Express on Friday said it has entered an agreement to sell its airline operations, TNT Airways and Pan Air Líneas Aéreas, to ASL Aviation Group.
Canadian Pacific published a third white paper regarding its proposed acquisition of Norfolk Southern Corp., and the U.S. Surface Transportation Board has begun to receive letters from rail customers in support of the controversial takeover.
A $60 million upfront payment by Ports America and TIL gives the Northern California port limited recourse following their departure from Oakland Harbor Terminal, according to a research note by Fitch Ratings.
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Canadian Pacific Railway Ltd. CEO E. Hunter Harrison said yesterday the workforce reduction will come from all areas of the company as slumping cargo volumes caused a 29 percent decline in fourth quarter profits.
Port commissioners have scheduled meetings to discuss the termination of the Outer Harbor Terminal lease agreement and potential plans by port terminal operator TraPac to expand into the vacated facility.
Rates from Shanghai to Northwest Europe, the Mediterranean and the United States have all fallen in each of the past three consecutive weeks.