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A rule from the Pipeline and Hazardous Materials Safety Administration requiring shippers to label and document shipments with more than 12 lithium batteries went into effect Friday.
Ocean carriers Maersk Line, CMA CGM, MOL and OOCL issued general rate increases.
David Yeager, Hub Group's CEO, will assume the duties of his brother until a replacement is found.
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.