🚢 Used tanker ships are a hot commodity market as soaring freight rates prompt companies to choose to buy vessels instead of renting them.
Demand is surpassing availability, making those who want new tankers wait for up to three years for their orders to be fulfilled. January through July of 2022, 184 clean tankers worth $3.79 billion were sold to shippers in seven months.
Peloton has lodged a complaint against digital freight forwarder Flexport with the Federal Maritime Commission, alleging that Flexport's practices resulted in millions of dollars in unreasonable demurrage and detention charges.
The City of Baltimore is holding the owner and manager of the cargo ship responsible for the tragic collapse of the Francis Scott Key Bridge last month.
In March, the freight sector didn't quite hit the usual spring upswing, with the Cass Freight Index reporting that both shipments and expenditures mostly mirrored February's figures, falling short of typical seasonal patterns.
After a challenging six months marked by the driest October in 73 years, the Panama Canal is finally seeing a turnaround.
Here’s a quick rundown on the latest U.S. import scene: Inflation’s not the only thing on the rise – we’re seeing a significant increase in imports from China, especially after their factories reopened post-Lunar New Year.
The Unified Command, a coalition involving the U.S. Coast Guard, U.S. Army Corps of Engineers, and other key agencies, has started a crucial phase in the aftermath of the Baltimore bridge collapse.
In Baltimore, officials have quickly established a temporary shipping route around the Francis Scott Key Bridge collapse site to resume port operations.
After the recent collapse of the Francis Scott Key Bridge in Baltimore due to a container ship collision, resulting in six deaths, President Biden announced the federal government's commitment to fully fund the bridge's reconstruction.
The Francis Scott Key Bridge near Baltimore collapsed early Tuesday morning after a huge container ship hit one of its pillars.
Early Tuesday morning, a major incident occurred at Baltimore Harbor.
The Panama Canal faced a shipping crisis due to a surplus of capacity, prompting restrictions that affected global trade.
The container shipping industry is grappling with a surplus of capacity, leading to a drop in customer rates that Maersk CEO Vincent Clerc described as unsustainable during the company's annual shareholder meeting.
The European Commission gave the green light to CMA CGM's acquisition of Bolloré Logistics SE, with conditions, following an investigation into potential competition issues.
Maersk is expanding its services to cover the entire supply chain, including air cargo operations.
Ammonia has emerged as a potential marine fuel in the quest for decarbonization, but a study from Chalmers University of Technology in Sweden reveals that this alternative may create new environmental challenges.
Climate change is causing a major headache for global trade as an unprecedented drought in the Panama Canal disrupts container traffic.
FedEx is set to launch a new "data-driven commerce platform" called fdx in the fall, offering comprehensive e-commerce solutions for online merchants.
Shipping giant Maersk has informed clients that vessels carrying freight from Oceania (Australia and New Zealand) will no longer transit the Panama Canal due to ongoing low water levels caused by a severe drought.
Dole Food Company has introduced a new weekly vessel service, effective since December 31, 2023, to the Northeast United States.
In a recent incident in the Red Sea, U.S. helicopters successfully defended a Maersk container vessel from an attack by Iran-backed Houthi militants.
After a few intense days, the fire that blazed in the cargo hold of the Genius Star XI - a huge cargo ship hauling lithium-ion batteries from Vietnam to sunny San Diego - is finally out.
Maersk and CMA CGM, two major global shipping companies, are implementing additional charges due to their decision to reroute ships away from the Red Sea following recent attacks on vessels in the region.
An international coalition of countries, including the United States, the United Kingdom, and others, has launched "Operation Prosperity Guardian" to counter Houthi rebels targeting commercial ships in the Red Sea.
BP has decided to halt all shipments through the Red Sea due to recent attacks on trade vessels by Houthi rebels in Yemen.
The United States suggests that the attackers who attempted to seize an Israel-linked cargo ship were likely Somali pirates rather than Houthi fighters from Yemen.
Manila accused Chinese ships of aggressive actions, including firing water cannons and making "dangerous maneuvers," against Philippine vessels resupplying a remote military outpost in the disputed South China Sea.
Orcas have been involved in a series of "attacks" on boats in the waters between southern Europe and northern Africa since 2020, with around 500 encounters reported.
Storm Ciarán swept through Western Europe, bringing record-breaking winds and causing widespread power outages, transportation disruptions, and significant damage.
Florida Governor Ron DeSantis has announced plans to send drones, weapons, and ammunition to Israel in response to the situation in Gaza.
A top cybersecurity firm, ESET, has uncovered Chinese hacking attempts in the European cargo shipping industry, marking the latest instance of China-aligned groups infiltrating Western economic infrastructure.