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UTi appoints two VPs, while the Long Beach City Council confirms harbor commission appointments and LogFire adds Oracle expert to ranks.
Since last week, rates from Shanghai to Northwest Europe and the Mediterranean fell by 31.4 percent and 30.1 percent, respectively.
The House Energy and Commerce Committee on Thursday approved legislation to lift the nearly 40-year-old ban on crude oil exports, a move it said will boost the U.S. economy.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.