Investment fund Pershing Square Capital Management, run by billionaire activist investor Bill Ackman, will sell its 9.8 million shares in Canadian Pacific Railway Ltd., the two companies said in separate statements.
CEVA narrows EBIT loss in Q2 2016
The Hoofddorp, the Netherlands-based third-party logistics provider posted a second quarter loss before interest and taxes (EBIT) of $34 million compared with a $51 million loss the prior year, according to the company’s most recent financial statements.
DSV’s profits skyrocket thanks to UTi acquisition in January
The Danish global transport and logistics provider reported gross profits of 7.8 billion Danish krone on revenues of 32.9 billion Danish krone for the first half of 2016, year-over-year increases of 40.4 percent and 28 percent, respectively.
Seafrigo expands into South Florida
The Le Havre, France-based food logistics specialist will build and operate a 30,000-square-foot temperature controlled warehouse facility in the South Florida Logistics Center next to Miami International Airport and just 12 miles from PortMiami.
Lufthansa Cargo posts fifth straight quarterly loss
The German airline group’s logistics division reported a loss before interest and tax (EBIT) of 27 million euros in second quarter 2016 compared with a 68 million euro loss the previous year, according to the company’s most recent financial statements.
Commerce adds clarity to monitoring steel trade
The U.S. Commerce Department will provide a new series of reports offering details into current steel trade flows from the world’s top importing and exporting countries.
Amazon debuts ‘Prime Air’ branded plane
The e-commerce giant said the Prime Air network is designed to support one and two-day package deliveries, especially for Prime members who pay an annual subscription for free two-day shipping.
APMT to pay $43.2m to settle Guatemalan corruption case
APM Terminals has agreed to a $43.2 million “reparation” payment to avoid losing its concession at Puerto Quetzal in Guatemala despite the fact that alleged offences occurred before the company took over the terminal earlier this year.
Northwest Seaport Alliance makes headway since last year’s integration
The alliance, which was formed one year ago between the ports of Seattle and Tacoma, is 90 percent complete with the design for Terminal 5 in Seattle, another terminal that could eventually handle megaships.
FWI: U.S. cargo theft declines
However, reported cargo thefts from California, which accounted for 40 percent of reported incidents in the United States for the second quarter of 2016, surged 122 percent year-over-year.