With U.S.-led sanctions expected to be lifted soon as part of July's nuclear deal, Iran has unveiled a $120bn fleet expansion campaign.

Container service reliability across the three main East-West trades reached a new data series high in September, rising by 6.5 percentage points over August to the new record of 79.9 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

The Panama Canal Authority (ACP) has set a new historical tonnage record, welcoming 340.8 million Panama Canal tons (PC/UMS) through the canal in the 2015 fiscal year.

Ocean freight rates for cargo moving under contracts on the major East-West routes have seen a sharp reduction since the beginning of the year, according to Drewry's Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates.

The Nicaragua Canal project has been dealt another setback amid reports that construction will not begin until the first quarter of 2016 due to environmental mitigation measures.

The GEFCO Group, a global player in logistics for manufacturers and in European automotive logistics, has signed an agreement with the private equity fund Nimbus to acquire the Dutch company IJS Global, which specializes in air and sea freight operations.