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The deal with Maersk Line, which will allow the ocean carrier to track termperatures in its refrigerated containers, is one of the largest industrial “internet of things” deployments of its kind, according to AT&T.
The Danish shipping conglomerate has also begun a program to buy back $1 billion in company shares over the next year.
Ocean carrier APL will launch a new service between North Asia and the West Coast of the United States Nov. 1 that will feature some of the most competitive transit times in the trade.
The Danish firm's acquisition of UTi is the latest in a string of international mergers in the 3PL industry this year.
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."