Jacksonville, Fla.-based Landstar System, Inc. reported record first quarter revenues of $780.9 million for the first quarter of 2016.
The Thomasville, N.C.-based less-than-truckload carrier surpassed analyst expectations, posting earnings per share of $0.80 for the quarter.
The Atlanta-based parcel giant reported increased revenues in all of its business segments, and surpassed analyst expectations with an earnings per share of $1.32 for the quarter.
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In addition to bad weather conditions, rampant overbooking by carriers in the wake of newly restructured vessel sharing alliances is at the root of the delays, according to Nicolas Vittori, overseas network manager at France-based Setcargo.
Trading of shares in troubled Taiwanese ocean carrier Yang Ming have been suspended on the Taiwan Stock Exchange until at least May 4 as the firm prepares to reduce its equity capital by over 50 percent, according to multiple media reports.
Shippers, carriers and terminals swapped accusations in their filings with the Federal Maritime Commission that their positions on detention and demurrage charges are being mischaracterized.