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The recent port strike, the closed shipping lane that forced a shift to air transport, the bridge that blocked a port, even the grid brownout that slowed manufacturing, might have seemed like random disruptions. Who pays the crew of the ship that blocked your shipping lane? But take a closer look. This may sound like alarmism.
The intricate networks of shipping routes, ports, and inland terminals have strengthened the interconnectedness of the world economy, and maritime shipping is the critical mode of global transport. While the drought in Panama has ended and shipping is rebounding, the Suez Canal, where traffic has been cut in half, remains an issue.
seaport operators are asking for extra time to implement pending tariffs on towering ship-to-shore cranes as they expect President Donald Trump's administration to follow through on a promise to essentially ban that vital cargo-handling equipment. US port operators seek to mitigate hefty expected tariffs on China-built port cranes U.S.
As trade talks begin, Chinese exporters prepare to get goods moving to US again China-based shipping agents have resumed buying container space for goods headed for the United States after a series of U.S. Trump announces deal to stop bombing Houthis, end shipping attacks President Donald Trump announced on Tuesday the U.S.
The pause in the tariff fight that amounted to a trade embargo between China and the United States has seen a marked increase in container shipping rates, particularly on trans-Pacific routes. Missile attacks on Israel by Houthi rebels in Yemen continue to make the Suez Canal route too unstable for most major container carriers.
In any case, the reduction in US sourcing from China for the last few weeks will start to be felt soon in fewer May container ship arrivals and lower import volumes. Following the USs suspension of de minimis eligibility for Chinese goods last week, Temu announced it will no longer ship goods directly from China to US customers.
Germany begins trials to reopen Mosel river to shipping after accident damaged lock Authorities began trials to reopen the Mosel River in west Germany to domestic freight transportation over the weekend, with ships now able to use a damaged lock after an accident last week.
Agree to Framework Trade Deal Bloomberg Red Sea Ship Set Ablaze, Abandoned After Attack Near Yemen More from this author Subscribe to our Daily Newsletter! China Are Close to a Trade Deal That Could End U.S. Tariffs China, U.S. Timely, incisive articles delivered directly to your inbox.
The company produces large SUV models like the GLS and GLE at its plant in Tuscaloosa, Alabama, and ships them to China. Car Sales Leader Bloomberg Red Sea Ship Set Ablaze, Abandoned After Attack Near Yemen More from this author Subscribe to our Daily Newsletter! China Mercedes Car Sales Drop as Tariffs Crimp Demand in U.S.,
Though Israel’s war with Hamas has so far not had much impact on ocean logistics , Houthis from Yemen, after threatening to target Israeli ships, hijacked a car carrier vessel in the Red Sea with ties to Israeli owners this week, raising concerns of broader supply chain impacts from the war. Transatlantic rates increased 9% to $2.00/kg
Global shipping prices are continuing to rise as Houthi rebels keep up attacks on cargo vessels in and around the Red Sea. The disruptions are at a key point for ships passing through the Suez Canal and are creating ripples across supply chains in Europe and the U.S., And now on to this week’s logistics news. East Coast.
Global shipping lines have become increasingly strained as the Houthi militia in Yemen broadens its attacks on cargo vessels, one of the largest companies in the industry warned on Monday. But in recent weeks, the Houthis have been trying to strike ships making that longer journey in the Indian Ocean.
The latest updates on shipping delays in the Red Sea in January 2024, including which businesses and industries have been impacted. This response is driven by ongoing threats to crew and cargo safety, necessitating the rerouting of ships around the Cape of Good Hope, resulting in substantial delays and escalated shipping costs.
Several firms have paused shipments through the route after vessels were attacked by Houthi rebels in Yemen. It has forced a number of companies to re-route cargo around Africa’s Cape of Good Hope, adding days to journeys. But one major shipping firm claimed the disruption will not lead to empty shelves in shops.
Ship Smarter: How to Avoid Bottlenecks in Your Global Operations. You can’t just turn around a giant cargoship. And when shipping to volatile countries, it becomes even harder. And when shipping to volatile countries, it becomes even harder. Once cargo has shipped, there are no “backsies.”
The tolls that ships pay are now around eight times more expensive than normal. Ship operators fear that their crews could be imperiled on the journeys through the Red Sea by missile or drone attacks from a Yemen-based rebel group. Cargo volumes through the Suez and Panama canals have plunged by more than a third.
Since mid-November, Houthi rebels in Yemen have intensified their assaults on commercial shipping vessels navigating through the lower Red Sea, in response to situation in Gaza. Reacting to the situation, ocean cargo rates have surged.
Persistent Red Sea Risks Continue to Disrupt Critical Trade Route The ongoing conflict in Yemen has created several shipping risks in the Red Sea. In particular, there is a risk of Houthi rebels laying mines in the shipping lanes. That's a hard-to-prevent risk that could damage or sink ships.
Since mid-November, Houthi rebels in Yemen have intensified their assaults on commercial shipping vessels navigating through the lower Red Sea, in response to the situation in Gaza. Reacting to the situation, ocean cargo rates have surged.
That means maritime shipping lies at the very heart of the global logistical system. At the time, Ron Widdows , former chairman of the World Shipping Council, reported that piracy was costing “the global shipping industry anywhere from $3.5 Nearly 90 per cent of global trade is carried by sea-going vessels.
hit 18 Houthi targets in Yemen on Saturday in response to a recent surge in attacks by the Iran-backed militants on ships in the Red Sea and the Gulf of Aden. The bombings focused on military targest in eight locations in Houthi-controlled areas in Yemen, the U.S. The next time a leap year will be skipped is the year 2100.
In any case, the reduction in US sourcing from China for the last few weeks will start to be felt soon in fewer May container ship arrivals and lower import volumes. Following the USs suspension of de minimis eligibility for Chinese goods last week, Temu announced it will no longer ship goods directly from China to US customers.
In the past weeks, ocean freight rates have risen as much as $10,000 per 40-foot container, as container ships seeking to avoid the attacks embarked on long detours around the Cape of Good Hope in South Africa, diverting more than $200 billion of cargo away from the critical trade artery. And now on to this week’s logistics news.
cargo imports in May could hit highest level since last October Transloading is heating up again Hundreds of cargoships lost propulsion in U.S. Recycled bags will be processed into raw materials that can be used to make things like shipping pallets and outdoor furniture, Walmart said.
There were no immediate reports of attacks on commercial shipping by Iran after Israel attacked nuclear targets there Thursday. But shipping analysts warned that could change amid rising tensions in the region. GPS data showed container ships from Taiwan’s Wan Hai and CMA CGM of France in the area.
The group claims it will not target vessels making Israeli port calls or partially owned by Israeli companies or individuals, but will attack vessels wholly-owned by Israeli entities or flying the Israeli flag and would also attack US or UK vessels in response to any new US/UK strikes of Houthi positions in Yemen. kg to Europe.
Federal Maritime Commission in accordance with the Shipping Act and the regulations of the Commission set forth in 46 CFR Part 500. SUBSTITUTED SERVICE (ALTERNATE PORT SERVICE) This provision shall govern the transfer of cargo by trucking or other means of transportation at the expense of the Carrier.
More Resources Home Red Sea and Suez Canal Shipping Crisis Update Judah Levine Optimize your logistics tendering, vendor selection, negotiations, and procurement with Freightos Data Book a Demo Even with an international naval force in place, Houthi attacks on commercial vessels in the Red Sea continue. America East Coast peak of $22k/FEU.
Crews began the on-water removal of containers from the still-stuck Dali , as one necessary step in clearing the ship from the collision site. As a military solution to the attacks has proved elusive, the US envoy to Yemen is also exploring diplomatic incentives to bring the disruption to an end. Ocean rates from Asia to N.
The Suez is facing a different set of challenges though, as Houthis in Yemen attacked three more vessels – two bulk carriers, and an OOCL container vessel they determined to have links to Israeli-ownership – and a US Navy ship on Sunday. Freight news travels faster than cargo Get industry-leading insights in your inbox.
The diversions are leading to higher costs for carriers using more fuel and more ships for the longer journeys around the south of Africa, and higher container rates for shippers. Longer ocean transits are expected to push some volumes to air cargo. Freight news travels faster than cargo Get industry-leading insights in your inbox.
US and UK strikes on Houthi positions continued last week as well, and the US Federal Maritime Commission is considering implementing maritime sanctions on Yemen as an additional measure. In air cargo, though rates out of Asia and the Middle East were level or easing on most lanes last week, Freightos Air Index data shows China – N.
Dive deeper into freight data that matters Stay in the know in the now with instant freight data reporting Sign up for Free Analysis Even with the US-led international naval task force in place, Houthi attacks on commercial vessels continued last week including a missile attack and attempted hijacking of a Maersk container ship on Saturday.
Yemen-based Houthi militants have been attacking high-value cargo vessels in the Red Sea since November in a show of support for Palestinian Islamist group Hamas fighting Israel in Gaza. And now on to this week’s logistics news.
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