FASA

The global freight forwarder will use CargoSphere’s ocean freight Rate Mesh network to drive access to more current, accurate rates and quicken its quoting capability to customers.

Japan’s three largest ocean carriers said Monday in Tokyo they will merge their container operations in mid-2017 to form what would be the sixth largest line, continuing a recent trend of industry consolidation.

The Hong Kong-based carrier transported 5.2 percent more containers in the third quarter of 2016 compared to a year earlier, but average revenue per TEU for the quarter fell 18.1 percent year-over-year.

The Shanghai Containerized Freight Index increased 11.3 percent from last week to a reading of 884.95, thanks to sharp increases from Shanghai to Northwest Europe and the Mediterranean.

U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.

The technology startup Otto and Budweiser have completed the world’s first shipment by a self-driving truck.

In addition to the six 13,010-TEU Hanjin Shipping vessels to be chartered to Maersk Line, a group led by HSH Nordbank could also acquire another three ships and lease them out to Maersk’s 2M Alliance partner MSC, according to multiple media reports.

The U.S. Federal Maritime Commission has received 16 ocean transportation intermediary license applications and changes for review.

The truckload transportation and logistics services provider reported a net income of $23.4 million on $280.5 million in revenues in the third quarter of 2016, year-over-year decreases of 22.9 percent and 6.5 percent, respectively.