Freight Broker

Although prices have gone down slightly, they are roughly in line with 2024 peak season levels during Red Sea and East Coast labor disruptions.

Tung took over running the family shipping interests, which included Orient Overseas Container Line and bulk operator Island Navigation, in 1982 following the death of his shipping magnate father, but immediately faced the fallout from a global shipping industry crisis.

The company’s pivot to focus on software applications in lieu of developing its freight marketplace has led to stagnation of the business and its share price, former CEO Zvi Schreiber asserts.

The company is working through a backlog after the cyberattack hampered manufacturing, order processing and shipping.

Strong time charter rates that have hardly moved in recent years and ongoing robust demand are keeping aging multipurpose vessels on the water.

The company estimates it will deliver over 86% of its own packages next year, per Business Insider, but Amazon cautioned that internal forecasts are preliminary.

FedEx, DHL Express flight operations at Miami International Airport are operating as normal after Sunday’s deadly crash, but reduced runway capacity may have a longer impact.

Freight demand was either better or “less worse” at three of the largest LTL providers last month, bolstered perhaps by the need for shippers to speed some freight to inventories.

The furniture maker will build a 150,000-square-foot distribution hub at the same location of one of its oldest manufacturing facilities.

That comes as ONE said the port would be temporarily omitted from 11 Premier Alliance US East Coast sailings through mid-October to maintain schedule reliability.