Latest News Updates From Brendan Murray

The founder of cargo booking platform Freightos is calling for a board shake-up including the ouster of Chairman Udo Lange, citing a drop in the company’s share price.

Maersk, Hapag-Lloyd and DP World reported strong trade demand, with Maersk raising its full-year outlook for the second time in seven weeks.

The new facilities will add to the UAE’s plans to build oil pipelines and expand other ports as it looks to reduce its dependence on the Strait of Hormuz.

Maersk and Hapag-Lloyd signaled confidence about resuming passage through the Red Sea, sending the container carriers’ shares down July 6.

Maersk upgraded its profit outlook for this year, citing solid demand especially in Asia and a global container market that looks to stay healthy the rest of the year.

DP World exited the U.S. port business in 2006 on security concerns raised by some American lawmakers citing Sept. 11 terrorists’ links to the United Arab Emirates.

The spot rate for a 40-foot container to the U.S. West Coast from Asia was up 20%, to $3,933.

Container shipping analyst Lars Jensen on July 1 sets out for an 18-month trip to scope out opportunities and risks to better connect Africa’s economies to the global trading system.

Some gauges are at their highest since the 2020-23 period, when economies locked down because of COVID, shortages emerged and shipping snarls persisted. 

MSC plans a new service linking Europe with isolated Middle East ports, using trucking across Saudi Arabia and smaller vessels in the Persian Gulf.