FASA

Brent crude closed at $47.19 a barrel, the lowest since May 10, while West Texas Intermediate slipped to $46.21, the lowest since May 13 and the biggest one-day drop since April 1, on concerns about slowing global growth.

The parcel carrier has agreed to pay $240 million to settle lawsuits covering around 13,000 divers across 20 states who claimed they should have been treated as employees instead of independent contractors.

Great Lakes regional less-than-truckload carrier Moran Transportation Corp. purchased the assets of Eagan, Minn.-based Mats Trucking for an undisclosed sum back in April, but waited until rebranding was complete to announce it.

The Association of American Railroads and American Short Line and Regional Railroad Association spoke out against a proposed Federal Railroad Administration rule that would mandate two-person crews on all trains.

Family-owned third-party logistics provider Wainwright Industries is adding a second facility near the Port of Charleston.

The CEO of Global Metallurgy pleaded guilty to one count of conspiring to violate the International Emergency Economic Powers Act in relation to the export of specialty metals from the United States to Iran.

Starbucks names new executive VP for global supply chain, while DHL appoints senior leadership for its eCommerce division and Foss Maritime promotes new president.

The Port of Long Beach is working with a local company to commercialize an exhaust treatment system that captures smoke-stack emissions from cargo vessels to meet California clean air rules.

Ocean carriers should “embrace the obvious solution” terminal operators can offer to ensure compliance with the International Maritime Organization’s new verified gross mass regulations, says Federal Maritime Commission Chairman Mario Cordero.