First came a pause in cargo bookings to Russia. Now, ocean carriers have halted almost all of their Russian port calls.
The trans-Pacific container trade is vastly different than pre-pandemic, with more ships, more competition, and a new leader: Maersk.
Russian imports via ocean, truck, rail and air are now being simultaneously squeezed. Shipping data shows growing pressure.
DOT is leading a freight data exchange pilot project that it envisions as a long-term effort to speed cargo flow and cut costs for consumers.
Container lines and tanker owners rapidly and preemptively suspend business with Russia.
CEO Rodolphe Saadé said CMA CGM “will transform the Beirut port’s container terminal into a state-of-the-art facility that meets the best international standards.”
MSC, a giant shipping line, wants to buy an Italian airline. If successful, it will then be in the passenger airline and air cargo businesses.
The latest example of an ocean carrier expanding into the logistics space involves MSC trying to buy a piece of Bolloré Logistics.
An American company has accused foreign ocean carriers of abusing the container market to pad their profits.
The Federal Maritime Commission is auditing container lines to evaluate potential abuse of leverage against exporters.
The ocean carrier said Monday that BNSF is reducing import traffic at the ports of LA and Long Beach, while inbound trains from New York area ocean terminals to three Midwestern destinations are also being monitored.
Former chief mate of MSC Gayane gets seven years behind bars for lead role in massive 2019 smuggling operation.
Consolidation in the liner sector is already extreme. Newbuild orders will further concentrate market power in fewer hands.
Congestion is cutting liner capacity just as freight rates are at all-time highs, incentivizing carriers to buy or charter more ships.
Digging and pulling haven’t freed the giant Ever Given vessel that has stopped traffic in the Suez Canal. The next step might be to lighten the vessel by removing cargo.
The Maersk Eureka is 650 miles off the coast of Alaska awaiting repairs
“Strong winds” are blamed for causing the 20,000-TEU Ever Given to get stuck and block Suez Canal traffic in both directions.
Ocean carrier ZIM just released record results and confirmed huge gains for contract rates. So why did its stock sink?
The lack of Lunar New Year shutdowns contributes to the busiest February on record.
The ocean carrier has not said when customers can expect to receive damaged or intact cargo.
