XPO Logistics said the sale of its truckload operations includes approximately 3,000 tractors, 7,500 trailers and 29 facilities it acquired in its October 2015 purchase of Con-way Inc., and proceeds will be used to pay down debt.
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.
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Marine Guard 100’s anti-rust efficacy was verified during two-and-a-half years of testing on the deck, ballast tank, piping and other metal surfaces on an oceangoing coal carrier owned by NYK and managed by Hachiuma Steamship Co. Ltd.
Meanwhile, the Port of Los Angeles signed a partnership with the U.S. Department of Commerce and the Center for Global Supply Chain Management to advance the use of technology at ports in order to make them more globally competitive.
The U.S. Bureau of Labor Statistics said U.S. import prices experienced a monthly increase of 0.1 percent due to higher fuel prices, while U.S. export prices ticked up 0.3 percent from a month prior.