Singapore-based Neptune Orient Lines has agreed to sell its APL Logistics business unit to Japanese shipping firm Kintetsu World Express for $1.2 billion.

Consumer confidence fell in February as gas prices started to rise from a six-year low and damped Americans’ optimism about the economy.

CSX Corp. said its board of directors unanimously elected Oscar Munoz as president, effective immediately, and that he will remain chief operating officer.

U.S. rail intermodal traffic declined 3.3% in the week ended Feb. 7 compared with the same week last year, the Association of American Railroads reported.

XPO Logistics announced that it has paid $59 million to acquire UX Specialized Logistics, which makes last-mile deliveries for retail chains and online retailers.

A California state court has awarded seven drayage drivers for an XPO Logistics subsidiary $2.2 million in an ongoing battle over worker classification, which could intensify with further legal action.

Union Pacific announced that it has promoted Lance Fritz to CEO from chief operating officer, succeeding John Koraleski, who was named executive chairman.

Intermodal rail traffic rose to an average of 251,267 units per week in January, the highest weekly average for the month on record, the Association of American Railroads reported.