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.
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.
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.
Registration takes less than 1 minute.
The recent declaration of bankruptcy by South Korean ocean carrier Hanjin Shipping is a symptom of what ails the container shipping industry, not the cure, as some analysts seem to suggest.
A construction project at the west African port officially began and will drastically increase the port’s container capacity.
The latest round of funding for freight forwarder Flexport shows early stage venture capital groups are nowhere near burned out on logistics technology startups.