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The Federal Maritime Commission found the Northwest Seaport Alliance is not likely to reduce competition or result in an unreasonable increase in cost or reduction in service.
Shandong Huahai Shipbuilding, a small shipbuilding company based in Rizhao, Shandong, will now be liquidated after an application from its primary creditor was accepted by the Rizhao Intermediate People's Court.
The parcel giant's acquisition of Chicago-based freight brokerage is intended to leverage Coyote's freight optimization technology and network of 35,000 carriers and 12,000 customers.
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.