After a flurry of acquisitions the past four years, XPO Logistics, the fastest-growing company in trucking and logistics, is going to take a breather to integrate backroom services and take hundreds of millions of dollars of cost out of its operations.
Danish logistics company DSV will acquire loss-making UTi Worldwide for $1.35 billion in a surprise announcement that represents a 50 percent premium on UTi’s closing price yesterday.
Among the top 10 fastest-growing Asian sources of U.S. imports are a number of nations, such as China, South Korea and Vietnam, that have long played a dominant role in global supply chains for both raw materials and finished products. But there are also a number of surprises on the list.
Spot rates on containerized imports from Asia were flat to down this past week even though October is normally the peak month of the year in the eastbound Pacific. Hopes for a strong peak season are therefore fading fast.
An increase in the annual subsidy for operation of U.S.-flag ships under the Maritime Security Program survived in a U.S. House-passed bill to end the United States’ 40-year-old ban on oil exports, but the bill’s chances of becoming law remain iffy.
Retailers project that U.S. containerized imports from Asia this month will rise only 3.3 percent year-over-year, a further sign that what normally is the busiest month of the annual peak season in the eastbound Pacific will be only a “bump” this year.
Under XPO, Con-way Freight will offer economy as well as priority service, and XPO will pursue opportunities to leverage trucking networks on both sides of the Atlantic, Jacobs told the JOC Inland Distribution Conference.
Investigators seeking to determine why the TOTE Maritime cargo ship El Faro sank in Hurricane Joaquin last week with the loss of its 33-member crew are taking a close look at the vessel’s sister ship.
Efforts to merge Brazil’s Special Ports Ministry (SEP) with the Ministry of Transport seem to have been put on hold, at least temporarily, with the appointment of Helder Barbalho as the ministry’s new leader.
Nearly a year after labor stoppages at U.S. West Coast ports burned scores of perishables shippers, the industry’s largest advocacy group refuses to relent in its push for greater transparency in how ports are operated and negotiations with unions are conducted.
Kazakhstan Railways, the national railway company of Kazakhstan, will build a 1 million 20-foot-equivalent unit container terminal in Klaipeda, Lithuania, home to one of the largest Baltic seaports.
Japan’s Mitsui O.S.K. Lines may incur a group net loss in the first half of fiscal 2015, which started in April, due to an extraordinary charge resulting from the collapse of Daiichi Chuo Kisen Kaisha, a mid-size domestic peer and equity-method affiliate.
The government of India this week approved an infrastructure upgrade project at the major public port of Paradip, allowing the country’s second-largest general cargo handler to expand capacity and improve operational efficiency.