The recent three-day strike by dockworkers at East and Gulf coast ports may have ended quickly, but its effects will be felt in global trade for weeks to come. Lars Jensen, CEO of Vespucci Maritime and container shipping analyst for the Journal of Commerce, warned Thursday that shippers should brace for a delayed reduction in […]
Read MoreSpot truckload rates are surging in the U.S. Southeast and climbing across the country following Hurricane Helene, with another storm, Hurricane Milton, set to strike the Gulf Coast of Florida soon. Milton is expected to hit Wednesday before crossing the state into the Atlantic. Last week, rates for dry-van, refrigerated, and flatbed trucks increased nationwide […]
Read MoreTruckload spot rates across the southeastern U.S. are rising sharply in response to back-to-back hurricanes. After Hurricane Helene ravaged parts of Florida to North Carolina, the trucking market experienced significant disruption. Now, as Hurricane Milton approaches the Gulf Coast of Florida, spot rates are climbing even higher. Last week saw nationwide increases in spot rates […]
Read MoreAfter weeks of contentious negotiations, maritime employers and the International Longshoremen’s Association (ILA) have reached a tentative deal to reopen container terminals at East and Gulf coast ports. The agreement includes a substantial wage increase for dockworkers and a three-month contract extension while formal negotiations continue. The breakthrough, announced Thursday evening, comes after the White […]
Read MoreLong Beach, CA: The Port of Long Beach is chugging into the “Year of Rail” in 2024, with a focus on modernizing facilities, boosting air quality, and ultimately becoming the world’s first zero-emissions seaport. CEO Mario Cordero laid out the ambitious plan in his State of the Port Address, highlighting the Pier B On-Dock Rail […]
Read MoreThe Red Sea, one of the world’s busiest shipping lanes, faces unprecedented risks as Houthi rebels launch escalating attacks on commercial vessels. Houthi Motives and the Murky Web of Attacks: The Houthis, backed by Iran, claim their strikes target vessels with Israeli ties. However, experts highlight the indiscriminate nature of attacks, raising concerns about wider […]
Read MoreChina’s consumer prices remain stagnant and factory-gate prices continue to decline, indicating persistent deflationary pressures in the world’s second-largest economy. The consumer price index (CPI) remained unchanged in September from a year earlier, falling short of the expected 0.2% gain. Core inflation, excluding food and fuel prices, held steady at 0.8%. The producer price […]
Read MoreBelgian authorities are planning to increase container scanning using artificial intelligence (AI) at its ports, focusing on shipments from high-risk areas like Latin America to combat drug smuggling. Currently, only 5% of containers entering the country’s ports are scanned, according to Belgium’s customs chief, Kristian Vanderwaeren. The measure is part of a broader effort to […]
Read MoreVenture capital firms are investing less in supply chain technology startups this year, as the freight market weakens, and investors become more cautious. In the first half of 2023, venture firms invested $5.7 billion in logistics companies, down from $22.7 billion in the same period last year, according to PitchBook Data. This pullback has forced […]
Read MoreChina has expressed strong opposition to “official interaction of any form” between the US and Taiwan and called on Washington to revoke a bilateral trade agreement with Taipei. “The US move violates the one-China principle and the three China-US joint communiques, contravenes the US’s own commitment of maintaining only unofficial relations with Taiwan,” China’s Foreign […]
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