Transportation: Page 458

Software Solutions

Brazil’s iFood Buys Technology Of Now-Defunct SpoonRocket

The company plans to use SpoonRocket’s robust logistics technology to optimize delivery time, enhance the restaurant-to-consumer experience, and continue its rapid expansion in Latin America and other emerging economies.

iFood has dominated the Latin America online food delivery market and despite a weakening economy in Brazil, iFood has propelled local businesses by helping more than 10,000 restaurants connect with customers in 100 Brazilian cities, ultimately accounting for $138 million worth of restaurant transactions in 2015.

Drayage Provider Total Transportation Services Files For Bankruptcy

The company said in a court filing that "downward pricing pressure from some of its major clients over the past year" along with mounting costs of litigation with independent drivers had proven more than it could manage.

Premium Transportation Services Inc., known locally as Total Transportation Services Inc. (TTSI), one of Southern California's largest port trucking companies, filed for chapter 11 bankruptcy protection on Monday in federal court in Delaware.

VersaCold Logistics Services Acquires Coastal Pacific Xpress In Canada

The acquisition comes just one month after the announcement of VersaCold's acquisition of Gary Heer Transport and the launch of its newest subsidiary, VersaCold North America Transportation Solutions Limited (VNATS).

VersaCold Logistics Services, Canada's largest supply chain solutions company focused exclusively on the handling of temperature sensitive products, has entered into an agreement to acquire Coastal Pacific Xpress (CPX), British Columbia’s largest refrigerated carrier specializing in the shipping of perishable and ambient products throughout Canada and the U.S.

Ocean Ports & Carriers

Maersk Line To Boost Asia-To-Northern Europe Rates $400 Per TEU

A.P. Moller- Maersk

The increase would take rates up by 190 percent on the current level, which is widely seen as loss-making. The shipping company also aims to raise freight rates from Asia to ports in the Mediterranean by $500 TEU.

Danish shipping and oil group A. P. Moller-Maersk could split up into separate companies, its chairman said on Thursday after naming Soren Skou, the head of its container business, as chief executive.

U.S. Eases Restrictions on Travel To Cuba

The changes come days before Obama will land in Cuba, the first visit by a sitting American president in 88 years and a marquee element of his foreign policy.

The actions are some of the most significant regulatory changes the Treasury and the Department of Commerce have made on the way toward normalization that Obama and President Raúl Castro of Cuba announced in December 2014.

States To Consider Fuel Taxes To Offset Less Federal Support

States such as Washington are struggling to keep up with a growing population and aging infrastructure of roads, highways, and bridges.

The Highway Trust Fund and the traditional gas tax are being compared to a well run dry and agencies being told the time for other creative ways to find “water” is now.

U.S. Gains Full Access For U.S. Beef and Beef Products to Peru

This agreement, reached during Secretary Vilsack's trade and investment mission to Peru, removes those barriers – called the export verification program – and assures American ranchers of expanded market access.

Agriculture Secretary Tom Vilsack and U.S. Trade Representative Michael Froman (pictured above) announced that the U.S. government has reached agreement with the government of Peru to remove barriers for U.S. beef exports to Peru that have remained in effect since 2003.

Canadian Pacific Railway Files Proxy Statement In Proposed Norfolk Southern Merger

Canadian Pacific Railway has filed a statement with the Securities and Exchange Commission that the shareholders request that the board of directors engage in good faith discussions with them regarding the proposed merger.

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Rail & Intermodal

DOT Seeks Input On Sleep Apnea For Commercial Drivers

U.S. Department of Transportation’s Federal Railroad Administration (FRA)

The National Transportation Safety Board recommended that DOT take action to address OSA screening and treatment for transportation workers.

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Ocean Ports & Carriers

Container Rates Fall To New Lows

An oversupply of massive new container ships serving the China-to-Europe routes has pushed smaller ships to the Atlantic Ocean and depressed rates between North America and Europe.

A slowdown in Chinese economic growth has hammered the global shipping industry, which exited the Great Recession to take advantage of low interest rates to buy new ships to handle a rising amount of coal, iron ore and consumer goods. But as China’s factories scale back and the economies of Europe and North America gear down, the amount of cargo traversing the oceans has slowed.

Norfolk Southern Service Connects Port Of Charleston To Charlotte Intermodal Facility

Norfolk Southern Corp.

The new, two-day Norfolk Southern service will operate five days per week connecting Charleston and Charlotte using existing dedicated intermodal trains.

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Global Investment Group To Acquire The Fresh Market For $1.36 Billion

The Fresh Market, Inc. a specialty grocery retailer and an affiliate of Apollo Global Management, LLC has entered into a definitive agreement whereby certain funds managed by Apollo will acquire The Fresh Market for approximately $1.36 billion.

The transaction was unanimously approved by the board of directors of The Fresh Market, other than Ray Berry, chairman and founder of The Fresh Market, who recused himself from all board discussions related to the review and from the Board vote approving the transaction.

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