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Ocean carrier MSC said it will divert cargo destined for Hodeidah to the Port of Aden after airstrikes by the Saudi-led coalition caused major damage to port infrastructure.
The third party logistics provider has signed a long-term contract with Universal Music to handle all its logistics operations in Brazil.
"In second half of 2015, international trade still won’t be cheerful," CSCL said in its most recent financial statements, pointing to the massive influx of new capacity in the ocean liner industry.
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.