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Officials in the Chinese city are curbing the movement of petroleum and other chemicals through the port while the investigation into last week's massive warehouse explosion continues.
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.
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.
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.