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Corruption in certain parts of Africa, Latin America and Asia makes it too difficult for a U.S. third-party logistics provider to do business, according to XPO Logistics CEO Brad Jacobs.
The logistics industry is "facing an unprecedented labor shortage" for which 79 percent of 3PLs are unprepared, according to a new study from Penske Logistics.
Meanwhile, lane outages in the existing locks for maintenance could reduce available capacity for vessel traffic by up to 50 percent through the end of the month, according to maritime support services provider Gulf Agency Co.
The U.S. Coast Guard and ship operator TOTE Maritime have scheduled press conferences for this afternoon to announce any new information on last week's disappearance of the Florida-Puerto Rico cargo vessel.
Investment bank Stifel Nicolaus upgraded its rating of FedEx Corp.’s stock to “buy” Monday, causing share value on Tuesday to increase over 1 percent from the previous day’s closing price.
The Japanese ocean liner carriers and three executives at the companies allegedly conspired to fixed prices on roll-on/roll-off cargo, according to the U.S. Department of Justice.