The pandemic-era surge in shipping costs was a “smoking gun” that foretold the global inflation spike, and the sharp drop in maritime-freight expenses since peaking last year will contribute to an easing in price pressures.
Additional funding is available for officials seeking to modernize operations at small shipyard facilities around the country, the U.S. Department of Transportation recently announced.
Shippers are in the driver’s seat as spot and contract rates continue to soften, but industry analysts said rates likely will stabilize throughout 2023.
New digitized trade documents and unfair competition from shipping lines infringing on turf for inland cargo are top priorities during a gathering of transportation leaders and government officials convened by the world’s largest freight forwarding association.
President Joe Biden is taking on the concentrated market power of ocean shipping companies, although officials at the agency overseeing the industry indicated they lack both the jurisdiction and, for now, any evidence of wrongdoing.
Mediterranean Shipping Co. is seeking a controlling stake in new Italian flag carrier ITA Airways through a deal that would also include Deutsche Lufthansa AG.
Freight brokers are on the front lines of the trucking industry. They act as an intermediary between shippers and carriers, which is not an easy job.December 1, 2021
The pandemic-driven shopping spree is having at least one unintended consequence: Emissions from shipping are on the rise again.