The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
Two investors acquire controlling stake in Pilot Freight Services
Richard G. Phillips will remain chief executive officer of Pilot Freight Services, and his family “will maintain a significant equity stake” in the company.
Echo’s Q3 net income falls 32% despite rise in volumes, revenues
The freight broker and third-party logistics provider also said Wednesday it has completed the integration of truckload-oriented freight broker Command Transportation, LLC, which it acquired in June 2015 for $420 million.
Greenbrier earnings fall 5% despite higher revenues in FY2016
The railroad transportation equipment manufacturer posted net earnings of $183.2 million in fiscal 2016, ended Aug. 31, a 5 percent decrease from the previous fiscal year, even as revenues reached a record $2.68 billion.
NWSA launches mobile apps aimed at increasing drayage efficiency
The Northwest Seaport Alliance will release two new mobile applications, DrayQ and DrayLink, in early November as part of an effort to speed cargo flow through the ports of Seattle and Tacoma and along local freight corridors.
Ports America gearing up to take over intermodal transfer service in Baltimore
Under an agreement reached earlier this year, Ports America Chesapeake will assume operational responsibility for the Seagirt Container Transfer Facility at the Port of Baltimore on Oct. 31, the port terminal operator said in a statement.
Private equity firm buys MetroGistics
Tailwind Capital has acquired the third-party automotive logistics provider from Corinthian Capital Group for an undisclosed sum, according to statements from the firm and BB&T Capital Markets, which served as financial advisor to MetroGistics.
NAC to launch four weekly cargo flights from Miami
Anchorage, Alaska-based Northern Air Cargo will commence a twice-weekly freighter route connecting Miami International Airport with Puerto Rico and Saint Martin, and two weekly routes between MIA and the Dominican Republic.
Bison develops portable system for weighing containers on chassis
The New-Zealand based company said the system is targeted at exporters and logistics companies needing to weight containers outside of ports and other high volume container hubs.
COSCO Ports Q3 profits drop amid CSCL integration
The port terminal operator arm of the recently merged China COSCO Shipping saw net profits from continuing operations tumble 37.3 percent to $43.9 million in third quarter 2016 despite a 3.3 percent increase in revenues compared with the previous year.