A company linked to Grupo Traxion Executive President Aby Lijtszain Chernizky plans to launch a tender offer for as much as 100% of the Mexican logistics company’s shares.

David Yeager returned to the company as chairman and CEO, and Patrick O’Donnell has joined the company as a special adviser and chief financial officer-elect.

Brent crude gained 2.3% to $108.12 a barrel. Prices for Brent and U.S. benchmark crude are up more than 50% since the Iran conflict began in late February.

The meetings between the two sides are also likely to result in an agreement to lower duties on Chinese inputs for manufacturers. 

Tom McLeod said the industry is riding a rate rebound driven by the winnowing of excess hauling capacity that had contributed to a four-year rate recession.

The jump in flows comes just as oil prices are soaring again after drone strikes shut down Saudi Arabia’s East-West pipeline.

Disruptions in the Red Sea and Strait of Hormuz have benefited the container shipping industry by tying up vessel capacity and tipping the supply-demand balance in favor of shipowners.

Autonomous trucking is set to enter a new phase, advancing toward end-to-end shipment from the hub-to-hub model quicker than previously thought in the sector.

The disruption threatens exports of 2.6 million to 4 million barrels daily, while Houthi gains along Red Sea routes boosted oil-supply concerns.

Brent crude, the international standard, rose 2.7% to $107.46 per barrel. It was at roughly $72 a barrel before the start of the war in Iran in late February.