FASA

Japanese ocean carrier Mitsui O.S.K. Lines Ltd. attributed the shuttering of its dry bulk business in Singapore and write downs in its container unit to a prolonged downturn in volumes and freight rates.

Acquisition heavy 3PL XPO Logistics is designing an intermodal logistics solution that will inject large shipment volumes into the inner suburbs of Paris to minimize truck traffic for final delivery to retailers.

The Jacksonville, Fla.-based ocean carrier is purchasing new containers, chassis and gensets for both international shippers as well as its services to Puerto Rico.

The truckload carrier selected OBRCOMM, a global provider of machine-to-machine and “internet of things” solutions, to provide its dual-mode cold chain telematics solution for tracking and monitoring refrigerated trailers.

Korean firm KB Financial will pay $867 million to acquire a 22.56 percent stake in Hyundai Securities from HMM, according to multiple media reports.

Allowing foreign-owned ships operated by foreign crews to participate in cabotage trade in the United States would add to the burden facing domestic security agencies, according to a new report from Lexington Institute.

The bi-state port also saw a big boost in automotive traffic and handled a record number of containers with its on-dock rail system, according to data from the port authority.

The 2M Alliance, comprised of ocean carriers Maersk Line and MSC, will also add a call in New York to another one of its loops between Asia and the U.S. East Coast.