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.

The Atlanta, Ga.-based shipping and logistics provider reported year-over-year increases in net income and revenues for the third quarter of 2016 despite pressure from changes in fuel surcharges and currency exchange rates.

The U.S. Maritime Administration said the grants will support five initiatives designed to transport freight on rivers to help relieve congestion on highways and reduce diesel pollution from trucks.

A group led by the Competitive Enterprise Institute sent a letter to Congress calling the Surface Transportation Board’s proposal to increase reciprocal switching an “unlawful attempt to push the U.S. railroad industry back into the economic dark ages.”

The combined companies will have gross revenues approaching $1 billion and will manage more than 700,000 intermodal, truckload and less-than-truckload shipments annually.

The Oak Brook, Ill.-based milti-modal transportation management company saw net income fall 9.6 percent to $17.9 million in the third quarter of 2016 despite a 3.7 percent increase in revenues compared with the same 2015 period.

The Houston, Texas-based tank barge operator posted a net income of $32 million for the quarter, a 43.7 percent drop from $56.8 million in the third of quarter 2015, according to the company’s most recent financial statements.

The decision to lower the global cap on the amount of sulfur in marine fuel from 3.5 percent to 0.5 percent in 2020 could cause shipping costs to rise drastically.