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The third-party logistics company said it will be 3M's preferred logistics service provider in warehouse management and distribution in Singapore, Malaysia and Indonesia.
The U.S. Department of Commerce's Bureau of Industry and Security imposed a $3.5 million penalty on Streit USA of South Carolina, its UAE-based affiliates, and two corporate officers.
Several major logistics and transportation company stocks fell Monday in response to fears of potential trade fallout from a prolonged downturn in the Chinese economy.
Saverco NV, a controlling shareholder of Antwerp-based cargo ship and aircraft lessor CMB, will seek to purchase all outstanding shares of CMB.
Rates from Shanghai to Northwest Europe and the Mediterranean have increased dramatically in the past two weeks, but rates from Shanghai to the United States have fallen three weeks in a row.
Weak trade has limited growth opportunities for airfreight carriers, but trade is expected to improve in the second half of the year, according to the International Air Transport Association.