As tariffs were being slapped on hundreds of goods, shipping rates for dry bulk — the segment that hauls billions of tons of coal, iron ore and crops around the globe — kept rising. But no more.
For the ocean shipping business today, it’s tough enough navigating the rough waters caused by economic cycles. But do carriers sometimes make their own waves?
The cost of hiring container ships has plunged 24 percent from a multi-year peak while raw material vessel rates have slumped 10 percent from a five-year high.
With its exclusive license to supply promotional merchandise to the nation’s ballparks, BDA faces a massive challenge in meeting requirements for product quality and on-time delivery.
Thanks to cheap labor, U.S. wood-furniture manufacturers like Bassett Furniture Industries often import their products from Asia — making logistics providers crucial partners.
Tens of thousands of cargo ships, tankers, container ships and cruise liners belch noxious sulfuric gases and fine particles that drift over cities and cover them with smog.