Registration takes less than 1 minute.
The forwarder will transport Toyota Material Handling Group's new line of racking systems from suppliers to the company's customer sites across Europe.
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.
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.