The Japanese postal, banking and insurance conglomerate now expects to post a net loss of 40 billion yen (U.S. $362.4 million) for its fiscal year ended March 31, 2016, after taking a 400.3 billion yen writedown on Australian logistics arm Toll Holdings.
Freight broker and third-party provider Echo Global Logistics reported a net loss of $2.9 million in first quarter 2017, compared with a $0.3 million gain in the same 2016 period, even as revenues grew 3 percent year-over-year to $415.8 million.
Total cross-border trade between the United States, Mexico and Canada grew 2.9 percent in February 2017, the fourth straight month of year-over-year increases, according to the Department of Transportation’s Bureau of Transportation Statistics.
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In addition, Hong Kong-based Orient Overseas Container Line is scheduled to receive a series of 20,000-TEU ships later this year.
Trac Intermodal sued two trucking companies, claiming they breached a contract by using its chassis to move maritime cargo.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.