The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion, up 40 percent from $13.9 billion in fiscal year 2016.
The Houston, Texas-based third-party logistics provider moved into a new 34,000-square-foot warehouse and office complex adjacent to the London Heathrow Airport in an effort to enhance its UK market presence.
SEKO Logistics named Michael Christensen president of SaaS and CPO of International Supply Chain Solutions to lead a new business unit focusing on the third-party logistics provider’s service-as-a-software technology solutions.
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Ocean carriers MOL, NYK and “K” Line all reported losses in their container segments and lower revenues year-over-year for the first fiscal quarter, which ended June 30.
Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
Meanwhile, the A.P. Møller - Maersk conglomerate, which includes both Maersk Line and APM Terminals, reported second quarter profits of $118 million, 89 percent below the $1.09 billion in the second quarter of 2015.