International Logistics

Vacancies for warehouses and distribution centers in the “red hot” New Jersey market dropped to 7.2 percent in the third quarter, the lowest rate since the recession took hold in 2007.

A second explosion rocked the city of Tianjin, home to the world’s 10th-busiest container port, nearly two months to the day after an explosion in the port area killed nearly 200 people and impacted port operations.

In the hyper-competitive world of refrigerated transportation, ocean carriers are always on the lookout for new solutions to control the atmosphere inside their containers while satisfying their drive for energy efficiency and improved environmental sustainability.

Major container carriers such as Maersk Line, Mediterranean Shipping Co., United Arab Shipping Co., Hamburg Sud and Hapag-Lloyd are among those making significant investments in their reefer business to help offset slower growth in other business areas.

Kuehne+Nagel’s third-quarter operating profit grew 9 percent year-over-year as lower costs and a switch to the U.S. ocean container market from the troubled Asia-Europe trade more than offset negative currency movements.

The U.K. has sold its remaining stake in Royal Mail, raising 591.1 million pounds ($910 million) for a 13 percent shareholding and ending the state’s involvement in the 499-year old postal company.

The world's second-largest transport operator is adding more than 41,000 postal codes to its international guaranteed package service, expanding its delivery footprint in Asia and other regions.

Pharmaceutical companies have increased their oceangoing share of shipments. Ocean carriers and cold chain service providers are happy for the business, but the moves have also creased concerns over insurance and liability.

The Egyptian government is being asked to provide more clarity into plans for the development of the Suez Canal Economic Zone (SCZone) as it seeks foreign investment to meet its ambitious goals for the area around the canal.

The Italian government has announced the price of shares for Poste Italiane’s imminent initial public offering, valuing the state-owned mail, logistics and financial services company at up to 9.8 billion euros ($11 billion).