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APL Ltd. has agreed to pay the United States government $9.8 million to resolve allegations it violated the False Claims Act in regard to a contract to provide GPS tracking of ocean containers in Afghanistan.
United States gross domestic product (GDP) grew 2.1 percent in the third quarter, according to the Commerce Department's second estimate, but truck tonnage remains relatively flat amid weak industrial and manufacturing output.
Container business was hampered by overcapacity caused by the delivery of ultra-large containerships, depreciation of the euro and an economic slump in Europe, according to ocean carrier NYK.
Consumers continue to migrate to mobile devices to make purchases, with mobile devices accounting for 36 percent of Black Friday sales, according to Custora, a company that provides predictive analytics for e-commerce.
Net income at the Israeli ocean carrier improved vastly compared to loss of $63 million in the third quarter of 2014 despite a 12 percent year-over-year reduction in total revenues.
Rates from Shanghai to Northwest Europe and the Mediterranean skyrocketed, while rates to the United States inched up slightly from last week.