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Spot container rates from Shanghai to Northwest Europe this week saw the largest single week drop ever recorded on the Shanghai Containerized Freight Index.
The ocean carrier joined Evergreen Line's APG service between Asia, the Indian Subcontinent and the Middle East with the Aug. 24 sailing of the Ever Libra from Shanghai.
Profits increased compared to the same 2014 period despite lower revenues and volumes due to the ocean carrier leaving certain trades and weak demand on Asia-Mediterranean routes.
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.