Trucking and intermodal carrier Swift Transportation grew net income 4.7 percent year-over-year to $38 million in third quarter 2016 on revenues that slipped 4.9 percent to $1.01 billion compared with the same 2015 period.
Gross profits for the first nine months of 2016 remained practically unchanged from the same period last year, since the growth in air freight volumes offset the drop in ocean freight volumes, Panalpina CEO Stefan Karlen explained.
In addition, the containership leasing company reported a profit of $20.7 million for the third quarter of 2016, down from $34.8 million a year earlier.
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Edward Greenberg, the association’s general council, said the Federal Maritime Commission’s revision would offer "much needed flexibility" to non-vessel-operating common carriers when including rate and surcharge changes in their service arrangements.
Online freight rate marketplace Freightos acquired air cargo management provider WebCargoNet, which will provide Freightos with a broader range of airfreight rates to complement its existing database of air and ocean rates.
The U.S. Foreign Agricultural Service said China has decided that vessels originating from the United States, other than the state of Florida, do not require disinsection certification.