Ships Diverted From Red Sea Send Ripple Effects Across Globe
Nearly six months into the Houthis’ relentless campaign to protest Israel’s war in Gaza, the economic fallout is widening.
Some Shipping Container Costs Hit $10,000
Companies transporting goods from Asia face costs of as much $10,000 for an urgent full-size shipping container over the next month — about double current spot rates.
Trade Strains Boost Ocean Shipping Cargo Rates
Global goods trade is showing signs of accelerating after last year’s slump, pushing up shipping rates and giving some supply chain managers flashbacks to the demand spike three years ago.
Shipping Giant MSC Vows to Fight ‘Excessive’ $63M FMC Fine
The world’s largest container carrier will push back against a proposed U.S. government fine that would rank among the stiffest penalties handed down by the Washington regulator.
East Coast Ports Scramble to Absorb Cargo
East Coast ports are modifying their operations to absorb cargo diverted from Baltimore harbor, where salvage specialists are starting to clear debris from the Francis Scott Key Bridge.
Uber Freight Eyes Tenfold Boost in European Market by 2028
Uber Freight is stepping up efforts to expand in Europe’s fragmented logistics market and aims to increase tenfold to 2 billion euros its freight under management by 2028.
Los Angeles Port Head Says Chinese Cranes Pose Security Risk
The head of the port of Los Angeles said Chinese-made cranes pose a potential risk to national security, but a shortage of alternatives makes it challenging to address the vulnerability.
Spot Container Shipping Rates Soar 173% on Red Sea Threats
Short-term rates for container shipping between Asia, Europe and the U.S. are climbing on reduced capacity caused by the threats to cargo vessels in the Red Sea.
Container Shipping Set for Downturn, Hapag-Lloyd Chief Says
The container shipping industry faces a few years of headwinds as low freight rates and widening geopolitical turmoil cloud the outlook, according to Hapag-Lloyd AG CEO Rolf Habben Jansen.
Hapag-Lloyd to Install Satellite Internet on Containerships
Hapag-Lloyd AG, the biggest container shipping line based in Germany, said Sept. 21 it will install SpaceX’s Starlink internet service aboard the ships it owns and manages.