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J.B. Hunt Transport Services made hard gains in a soft second-quarter freight market, boosting revenue 5 percent year-over-year to $1.62 billion while handling more freight and increasing capacity across its multimodal business, building up rather than cutting its truck capacity year-over-year. The third-largest U.S. trucking......
18 July, 2016
NYK Line’s roll-on, roll-off cargo price-fixing woes continued Monday as the company pleaded guilty to Australian Federal Court for forming a criminal cartel. The Australian plea makes NYK the second major car carrier to plead guilty and agree to pay a fine for antitrust violation......
18 July, 2016
CMA CGM Monday closed its all-cash offer for NOL after acquiring shares equivalent to approximately 97.83 percent of the Singapore-based parent of container shipping line APL. “Accordingly, the offer is no longer open for acceptance. Any acceptances received after 5:30 p.m. Singapore time on July......
18 July, 2016
Spurred on by the desire of consumers to receive their orders faster and cheaper, retailers are establishing “intermediate” distribution facilities closer to major population centers. These warehouses are positioned between the big-box import distribution centers and the customers, and they are skilled at processing goods......
18 July, 2016
XPO Logistics has reached an “inflection point” on its road to profitability, the company said Monday in a document filed with the U.S. Securities and Exchange Commission. The global logistics and transport company won’t release second-quarter earnings until Aug. 4, but XPO said in its......
18 July, 2016
Big mergers and acquisitions such as recent ones in container shipping haven’t hit breakbulk and project carriers, but consolidation is starting to happen as operators seek to cut costs, broaden coverage and use their assets more effectively. Pressure for mergers and acquisitions has increased since......
17 July, 2016
Truckers that service the Port of New York and New Jersey are preparing for possible congestion and delays Monday tied to a planned protest on longshore hiring practices. A New Jersey judge Friday outlined a strategy for the Newark Mayor Ras Baraka in which part......
17 July, 2016
Hong Kong’s container throughput fell 10.5 percent in the first six months of 2016 compared to the same period last year, continuing a steady decline that has seen the terminals registering volume declines every month since July 2014. The container terminals, mid stream and river......
16 July, 2016
Suddenly everyone wants to be the breakbulk and project cargo shipper’s new best friend. Facing weakness in their core markets, container and dry bulk carriers are pitching hard for multipurpose vessels’ traditional cargoes. “It’s a buyer’s market,” said Susan Oatway, senior breakbulk analyst at Drewry......
16 July, 2016
WASHINGTON — A group tasked with helping the U.S. Department of Transportation develop industry-wide metrics to gauge port productivity sputtered to a start at its first meeting Friday. Representatives of the railroad industry and labor unions — many of whom actively opposed the group’s formation......
15 July, 2016