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Acquiring Greensboro, N.C.-based M33, which specializes in logistics for the packaging, chemical and advanced materials sectors, will expand Transplace’s reach into other sectors and geographical regions.
The U.S. Coast Guard and ship operator TOTE Maritime have scheduled press conferences for this afternoon to announce any new information on last week's disappearance of the Florida-Puerto Rico cargo vessel.
Rickmers-Linie, Schneider and U.S. Bank Corporate Payment Systems name chief officers, while NYK Ports and ABP appoint business directors.
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."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.