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Logistics News
Business, Logistics

Nippon Yusen to Book $1.9 Billion One-Time Loss on Shipping Woes

Nippon Yusen KK, Japan’s largest shipping company by sales, will book a record one-time loss for its shipping and air-cargo divisions as freight rates remain depressed amid global overcapacity.

Chris Cooper | Bloomberg News
October 7, 2016
Business, Logistics

XPO to Open 571,000 Square-Foot Facility in Maryland

XPO Logistics has signed a lease for a recently completed 571,000-square-foot building in Perryman, Maryland, that is expected to bring hundreds of jobs to the county in the growing e-commerce field, Harford County Executive Barry Glassman said.

Allan Vought | The Aegis (Bel Air, Md.)
October 7, 2016
Business, Logistics

Hanjin Shipping Containers Stranded Again? California Officials Wary of Plan

Some of the 15,000 steel shipping containers at the ports of Long Beach, and Los Angeles abandoned in the wake of the financial collapse of Korea-based Hanjin Shipping Co. may be headed to Ontario, California, for storage — but not without opposition from city leaders.

Neil Nisperos | Inland Valley (Ontario, Calif.) Daily Bulletin
October 6, 2016
Business, Logistics

Hanjin Could Have Survived With Creditors’ Aid, Chairman Cho Yang-ho Says

Hanjin Shipping Co., the South Korean container line whose filing for bankruptcy protection roiled the global supply chain, could have survived if creditors had provided the company with aid, Group Chairman Cho Yang-ho said.

Kyunghee Park | Bloomberg News
October 4, 2016
Business, Logistics

Flexport Raises $65 Million in Venture Capital to Expand Operations

San Francisco startup Flexport Inc. raised $65 million in venture capital to expand U.S. and global operations, the company announced Sept. 26.

September 29, 2016
Business, Logistics

DHL Acquires UK Mail for $315.5 Million

Deutsche Post DHL Group has agreed to acquire UK Mail Group on Sept. 28 for 242.7 million pounds ($315.5 million), enhancing the company’s presence in the e-commerce market in Great Britain.

September 29, 2016
Business, Logistics

Shipping Technology Startups May Get Boost From Hanjin Woes

SINGAPORE — The global shipping industry, ravaged by collapsing revenues, defensive mergers and the failure of major player Hanjin Shipping Co. slowly is waking up to the redeeming potential of technology.

Jeremy Wagstaff | Reuters
September 29, 2016
Business, Logistics

Houston Port Credited for Being 'Creative' to Move Hanjin Cargo

Port of Houston Authority officials acted quickly to deliver stranded cargo after Hanjin Shipping Co. sought bankruptcy protection, offering to move and release the containers for a reduced fee.

Andrea Rumbaugh | Houston Chronicle
September 29, 2016
Business, Logistics

South Korean Court Considering Sale of Hanjin Shipping

The South Korean court overseeing Hanjin Shipping Co.’s receivership is considering a sale process for the entire container line, a month after the debt-laden company’s filing roiled supply chains worldwide.

Kyunghee Park | Bloomberg News
September 29, 2016
Business, Logistics

Appeals Court Rejects XPO Bid to Invalidate Texas Union Vote

The 5th Circuit Court of Appeals has rejected XPO Logistics’ bid to throw out an unfavorable union representation vote at Laredo, Texas, during 2014.

September 28, 2016
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