Logistics

XPO Logistics reported a profit in the third quarter compared with a loss last year, another sign that the company has rebounded from the losses it suffered from since 2013.

A.P. Møller-Maersk A/S, owner of the world’s largest container line, reported a 43% decline in third-quarter profit as the shipping industry continues to suffer from overcapacity.

Railroads and shipper groups have sketched their strategy for a potentially historic Surface Transportation Board battle over the future of rail competition, with comments to the agency as well as taking steps to recruit allies.

It's hard to think of two more challenged industries than oil and shipping. AP Moller-Maersk A/S's misfortune is to be heavily involved in both. Investors were starting to hope the worst was over.

Swift Transportation reversed course after reporting third-quarter earnings were up 4.7% year-over-year to $38 million on Oct. 24, lowering the number to $24 million, or a 34% decline lower than a year ago.

A.P. Moller-Maersk A/S, owner of the world’s largest container line, said mergers such as the combination of its three main Japanese rivals provide relief to an ailing industry that has been characterized by overcapacity.

Japan’s three biggest shippers agreed to combine their container operations to create the world’s sixth-largest box carrier, as the industry steps up consolidation this year amid a global turmoil in the sea-cargo business.

NFI Industries CEO Sidney Brown will be stepping down as the chairman of the board at Sun National Bank, effective Dec. 31.

XPO Logistics has sold the Con-way Inc. truckload business to TransForce Inc. for $558 million in cash, a move that involved negotiations between two of the Top 10 companies on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.

Hub Group Inc. and Echo Global Logistics Inc. reported weaker third-quarter earnings as pressure on profit margins continued to hurt results in the sector.