Government, Business, Logistics

Surging Shipping Rates Pose New Headwind for Global Economy

Shipping containers sit next to gantry cranes at the Yangshan Deepwater Port in Shanghai, China, on Jan. 11. Shipping containers sit next to gantry cranes at the Yangshan Deepwater Port in Shanghai, China, on Jan. 11. (Qilai Shen/Bloomberg News)

Shocks to supply chains are engulfing a wider swath of the global economy as the pandemic rages on, threatening to stifle Asia’s trade-led recovery just as soaring freight rates make it harder for businesses to weather another year like 2020.

January 14, 2021
Government, Business, Logistics

Veteran CEO Says Global Shipping’s ‘Perfect Storm’ to Pass

A container terminal in Hong Kong on Feb. 20. A container terminal in Hong Kong on Feb. 20. (Paul Yeung/Bloomberg News)

The global shipping industry has run into very rough waters in 2020 as the virus crisis that has engulfed China and roiled commodity markets added to headwinds from a seasonal slowdown and poor weather. One chief executive who oversees a fleet of 55 vessels says there’ll be a comeback.

Krystal Chia | Bloomberg News
February 21, 2020
Government, Business, Logistics Stock Soars on Forecast Improvement

Stamps Luke Sharrett/Bloomberg News Inc. shares surged Aug. 8 after the company raised the midpoint of its yearly forecast, easing some investors’ worst fears.

Cristin Flanagan | Bloomberg News
August 9, 2019
Business, Technology, Logistics

Shopify Sets Up Fulfillment Network in US, Just Like Amazon

Shopify point-of-sale technology The new Shopify point-of-sale system. (Business Wire)

Shopify Inc. plans to spend $1 billion to set up a network of fulfillment centers in the United States to help merchants using its e-commerce platform deliver products more quickly and cheaply, much the way does.

Paula Sambo | Bloomberg News
Simran Jagdev | Bloomberg News
June 19, 2019
Government, Business, Fuel

Tanker Attacks Raise Prospects for Higher Rates, Lifting Shipping Stocks

An oil tanker on fire An oil tanker on fire in the sea of Oman, June 13, 2019. (AP Photo/ISNA)

Suspected attacks on two commercial vessels near the Strait of Hormuz fueled expectations for higher shipping rates, driving up shares of companies that operate tankers.

June 13, 2019
Government, Business, Fuel

Shipping and Trucking Industries Gearing Up for New 2020 Ocean Vessel Fuel Mandate

Bunker fuel smoke stack Heavy, thick fuel has been used in the maritime industry for years, partly because of its low cost. However, it has been criticized for containing pollutants. (Getty Images)

Six months before ocean vessels will be required to burn low-sulfur fuel, such as diesel used in trucks, a U.S. Department of Commerce advisory committee disclosed recommendations to mitigate potential fuel shortages and price spikes.

Dan Ronan | Associate News Editor
May 30, 2019
Business, Logistics, TCA

Houston Trucking, Shipping Companies Decry Proposal to Limit Biggest Vessels

Port of Houston Port of Houston

Representatives for container shipping companies and trucking companies pushed back against a proposal to restrict the number of 1,100-foot-plus container vessels that call on Houston, saying this would hurt the entire shipping and logistics supply chain.

Andrea Leinfelder | Houston Chronicle
January 30, 2019
Business, Technology, Equipment

Container-Shipping Companies Plan Industry Alliance

Industry Alliance Containers at the Port of Savannah. (Ty Wright/Bloomberg News)

Five container-shipping companies intend to create a nonprofit association focused on the digitalization and standardization of information used in the industry.

Roger Gilroy | Senior Reporter
November 19, 2018
Business, Technology, Equipment, Safety, Logistics, Top 100

Orchestrating the Supply Chain

Flatbed truck carrying lumber. A flatbed truck carries lumber. (TT File Photo)

An increasingly constrained freight market is ratcheting up the pressure on shippers to improve the performance of their supply chains and make better use of the limited hauling capacity of their own private fleets and for-hire carriers.

Daniel P. Bearth | Staff Writer
August 20, 2018
Business, Logistics

Rare Hedge Fund Bet Targets the World’s Biggest Shipping Firm

A Maersk ship at the Port of Los Angeles Lance M. Cunningham/Flickr

A.P. Moller-Maersk A/S is in an unusual place this year as the world’s biggest shipping company finds itself the target of an attack by hedge funds.

July 23, 2018