FASA

In order for the current short-term bounceback in the container market to turn into a true recovery, carriers must stop ordering new larger vessels and continue high levels of ship scrapping, according to speakers at the 2017 IANA Intermodal Expo.

The Danish global transport and logistics provider posted profits of 826 million Danish krone (U.S. $128.5 million) on net revenues of DKK 4.1 billion for the quarter, year-over-year increases of 49 percent and 2.4 percent, respectively.

The new code replaces two existing policies that previously governed the conduct of Port Authority of New York and New Jersey commissioners – the February 2009 Board of Commissioners Code of Ethics and the September 2015 Port Authority Recusal Policy.

The automobile parts manufacturer will purchase software provider nuTonomy in the hopes that it will have 60 autonomous vehicles on the road in three continents by the end of 2017.

The Class I railway recorded a net income of $1.2 billion for the quarter, up 6 percent year-over-year, amid a 5 percent boost in operating revenues that came despite a 1 percent drop in volumes.

The organization’s seasonally adjusted For-Hire Truck Tonnage Index fell 0.9 percent compared with the previous month to a reading of 144.4, following a revised 4.7 percent gain in August, according to the American Trucking Associations.

Global Logistic Properties (GLP) has dispatched to shareholders the scheme document in relation to the company’s proposed privatization and expects a full vote on the plan at a Nov. 30 meeting, the Singapore-based warehouse operator said in a statement.