The third party logistics (3PL) sector had a tough third quarter in 2018 from a profitability perspective. While the revenues of the top dozen 3PLs grew by 8.8% that was insufficient to prevent a drop in the group’s EBITDA margin to 9.7% from 10.6% a year earlier. That was the worst result since 1Q 2014 and reflected higher fuel and operating costs despite expanding volumes. Additionally 11 of the 12 3PLs delivered profitability below analysts’ expectations, with the exception of CH Robinson. The fourth quarter has begun with strong volume growth. U.S. seaborne import shipments for the s...