XPO Logistics said the sale of its truckload operations includes around 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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The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Assets related to the South Korean shipping company’s services to the United States will be put up for sale as soon as tomorrow, multiple press reports said Thursday.
VesselsValue Senior Analyst William Bennett found the companies will own 36 percent of the world’s open hatch/gantry fleet by deadweight tonnage and 30 percent by value.