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"Repercussions on the global supply chain will be felt over the next few months and perhaps years to come," said the CEO of supply chain research firm Resilinc.
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.
July export container volumes at the Southern California port increased 15.9 percent from last July, despite the strong dollar, which made U.S. exports more expensive overseas.
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.