Wind Point Partners will acquire the Kearny, N.J.-based asset-light third-party logistics provider for an undisclosed sum as it attempts to expand its portfolio of transportation and supply chain services companies in the United States.
Number four U.S. railway Norfolk Southern reported net income of $405 million for the second quarter compared with $433 million during the same 2015 period, according to the company’s most recent financial statements.
Gerry Wang, chief executive officer of Seaspan, expressed how he believes the industry will gradually improve if scrapping remains high and new ship orders remain low.
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The U.S. Department of Transportation has announced 18 proposed grant awards totaling $759.2 million in funding for nationally significant transportation infrastructure projects under the Fixing America’s Surface Transportation (FAST) Act of 2015.
The massive $5.3 billion project comes with “considerable safety concerns,” which could lead to accidents and delays for shippers and higher claims for insurers, according to a new report from the London-based risk management consultancy.
The proposed change would give NVOs and import buyers the ability to directly transmit the Importer Security Filing, which is expected to improve security and eliminate confusion over who should file.