The Honolulu-based ocean carrier recorded a net income of $34.1 million on revenues of $543.9 million for the third quarter of 2017 amid strong demand for its China and southbound Alaska services.
U.S. transportation employment rises in October
The nation’s transportation and logistics sector added 8,400 jobs in October 2017, according to recent preliminary data from the U.S. Department of Labor.
Agility grows Q3 earnings, revenues
The global third-party logistics provider recorded net profits of 17.8 million Kuwaiti dinars (U.S. $58.8 million) on revenues of KD 358.5 million for the quarter, increases of 17.4 percent and 15 percent year-over-year, respectively.
Blackstone buys logistics portfolio from Principal Financial
The private equity firm’s purchase of the 4 million-square-foot industrial real estate portfolio reportedly includes warehouses, distribution centers and other industrial sites.
Euronav sinks into the red amid ‘challenging’ freight market
The independent tanker company recorded a net loss of $28.1 million or the third quarter of 2016 due primarily to an oversupply of tonnage coupled with new vessel deliveries, according to Euronav’s most recent financial statements.
COSCO Shipping Ports inks CFS agreement in Abu Dhabi
The terminal operator arm of Chinese state-run conglomerate COSCO Shipping will lease a container freight station (CFS) at the site of the new CSP Abu Dhabi terminal, which is slated for completion by 2019.
Qatar Airways purchases minority stake in Cathay Pacific
The airline was rejected by American Airlines earlier this year, but has now been able to secure a 9.6 percent share in Hong Kong-based airline Cathay Pacific.
FMC reviews 13 OTI license applications
The U.S. Federal Maritime Commission has received 13 ocean transportation intermediary license applications and changes for review.
Executive Moves: MTC Logistics and USMEF
MTC Logistics appoints chief information officer, general managers and plant manager; while the U.S. Meat Export Federation (USMEF) elects new officer team.
EU firms fear Brexit standstill will wreak havoc on U.K. supply chains
Nearly two-thirds of businesses in the European Union expect to move some portion of their supply chain operations out of the United Kingdom as a result of Brexit, according to a survey from the Chartered Institute of Procurement & Supply (CIPS).