Global Freight

Mediterranean Shipping Co., the world’s largest container line, will expand into air cargo using four leased Boeing Co. wide-body freighters after missing out in a bid for Italy’s flag-carrier airline.

The world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast, buoyed by logistics and labor strains that are squeezing capacity amid sustained U.S. demand for imports.

HMM Co., the biggest container-shipping line in South Korea, will continue deploying more vessels than usual to try to meet demand from the country’s exporters struggling to transport goods overseas.

With negotiations expected to begin soon between the 22,000-member International Longshore and Warehouse Union and the Pacific Maritime Association, ILWU leaders are expressing confidence that the two sides will reach an agreement — without an interruption in work — before the June 30 deadline for the current contract expiration.