“This is not a diet. This is a resetting of the baseline,” said Maersk CEO Vincent Clerc on his company’s job cuts.
The water crisis at the Panama Canal is getting worse and will force more ships to take much longer routes.
Profits being reported by container shipping lines are down from the stratosphere but many still surpass pre-COVID returns.
Now that port labor unrest is over, West Coast container terminals are starting to claw back some of their lost volumes.
Cosco earned more than $800 million in the third quarter, while one analyst expects Zim to lose more than $200 million.
Peak season demand propelled imports higher in September, although softening spot rates point to a fourth-quarter slowdown.
The Chapter 11 filing of the ILWU dockworkers union dates back to a dispute over two electrician jobs in Oregon a decade ago.
Just when it looked like West Coast port labor drama had dissipated, the ILWU has filed for bankruptcy protection.
Inflation and economic fallout from the war are curbing demand just as a tidal wave of new ship supply hits the water.
The recent rate rebound turned out to be fleeting. As rates deteriorate yet again, shipping lines face mounting losses.
The supply chain crisis is over, but exporters are still paying more — and facing more logistical challenges — than they did before the pandemic.
The plot thickens in the legal battle between Bed Bath & Beyond and container lines. More carriers are in the crosshairs.
Now that supply chains are back to normal, the typical effects of seasonality have returned, bringing U.S. imports up.
Fuel costs were overshadowed by skyrocketing freight rates amid the supply chain crisis. Now, fuel costs are much more important.
Have shipping stocks been a good bet? Here’s a look at their performance year to date and versus pre-COVID.
Asia-U.S. spot shipping rates have pulled back after a strong run-up, implying peak season may have passed its peak.
Average CEO compensation rose as ocean shipping company earnings increased, fueled in many cases by share-based compensation.
Panama’s drought poses a serious challenge to the country’s canal operations, but fallout to global trade remains limited.
Unprecedented supply-demand imbalances amid the pandemic led to historic dividend payouts by container shipping lines.
Spot ocean shipping rates from Europe to the U.S. held up much longer than trans-Pacific rates. Now they’ve sunk to historic lows.
