The less-than-truckload carrier reported a net income of $85.6 million on revenues of $782.6 million for the third quarter of 2016, year-over-year increases of 1.4 percent and 0.4 percent, respectively.
Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
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The latest round of funding for freight forwarder Flexport shows early stage venture capital groups are nowhere near burned out on logistics technology startups.
A construction project at the west African port officially began and will drastically increase the port’s container capacity.
At only 10 years old, the 4,530-TEU Viktoria Wulff, owned by Erste RHW Schiffahrts and flagged in Liberia, is the newest containership so far this year to have been sold for scrap, according to Clarksons Research.