The transportation management company posted a net income of $20.7 million on revenues of $856 million for the second quarter of 2016.
United States gross domestic product increased 1.2 percent in second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.
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Terminal operators at the Ports of Los Angeles and Long Beach announced an increase to the Traffic Mitigation Fee, which is collected on cargo moving through terminals during peak hours.
USAT Logistics announces half a dozen management hires and promotions, while the Northwest Seaports Alliance names operations service center and port operations heads.
U.S. beef producers and exporters now have access to Saudi Arabian consumers after nearly four years of being shut out of the Middle Eastern market due to the detection of an “atypical” case of “mad cow” disease in 2012.