The Shanghai Containerized Freight Index increased 11.3 percent from last week to a reading of 884.95, thanks to sharp increases from Shanghai to Northwest Europe and the Mediterranean.
U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
The technology startup Otto and Budweiser have completed the world’s first shipment by a self-driving truck.
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Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.
Meanwhile, Hanjin has sent a note to customers that says it will allow Hanjin-owned containers to be terminated at either Terminal 46 in Seattle or Pier T in Long Beach.
The third-party logistics provider’s earnings per share for Q3 2016 fell short of analyst expectations, largely due to net revenue margin pressure as contractual sell rates fell faster than spot buy rates, William Blair Equity Research said.