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No reasons was given for NYK's decision, but industry officials say it is tough for carriers to make money in the north-south trade lanes today.
Norfolk Southern Corp. will modify its Triple Crown Services (TCS) subsidiary to focus on the transport of auto parts, while other business will shift to the railroad's intermodal network.
The forwarder will transport Toyota Material Handling Group's new line of racking systems from suppliers to the company's customer sites across Europe.
After completing the long-awaited Trans-Pacific Partnership agreement on Monday, the Obama administration now faces its next challenge: promoting the trade pact to Congress and voters.
Just prior to announcing the board of TNT Express had approved its sale to FedEx, the company issued an investor alert warning shareholders that third quarter 2015 profits would be “materially lower” than in the third quarter of 2014.
A massive influx of refugees fleeing the war in Syria has resulted in increased wait times at border crossings and reduced volumes for trucking carriers, according to the International Air Cargo Association.