Registration takes less than 1 minute.
The Ocean3 Alliance of CMA CGM, UASC and CSCL will combine their FAL2 and FAL3 loops between Asia and Europe, decreasing its deployed capacity on the trade by approximately 21 percent, according to data from BlueWater Reporting.
Rates from Shanghai to Northwest Europe and the Mediterranean dropped for the third week in a row, according to data from the Shanghai Containerized Freight Index.
Ocean carriers Maersk Line, CMA CGM, MOL and OOCL issued general rate increases.
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.