Evergreen Marine Corp. has hired the company that freed the giant container ship Ever Given last year when it ran aground for almost a week, disrupting global trade for months, to do the same with its vessel stranded near the U.S. capital.
Dangerous, expensive disruptions to shipping and many of the world’s roughly 3,700 ports are on the rise along with global temperatures. These events will increasingly threaten the sea routes that convey 80% of traded goods by volume, according to an analysis by Environmental Defense Fund.
Russia’s ongoing invasion of Ukraine has the shipping industry bracing for new shocks to its labor force, which relies on experienced crew from both countries.
President Biden is taking on the concentrated market power of ocean shipping companies, although officials at the agency overseeing the industry indicated they lack any evidence of wrongdoing.
Putin’s assault on Ukraine, and retaliatory steps designed to paralyze the Russian economy, are heaping new disruptions on supply chains that never recovered from unprecedented shocks caused by the pandemic.
The U.S. and Europe’s biggest logistics firms have halted shipments to Russia, further isolating the country’s businesses and consumers after its military invaded Ukraine.
Omicron is ripping through cargo ships, raising concerns that a surge in cases, coupled with China’s tightened quarantine requirements for vessels, could delay supply chain stabilization for the shipping industry.
Container shipping rates are creeping higher after staying mostly stable this year, a signal that supply strains remain a drag on a global economy now bracing for an energy shock and geopolitical turmoil tied to Russia’s invasion of Ukraine.
Per Hong, partner with Kearney, assesses the impact to date of the Omicron variant of COVID-19, and speculates on how the current crisis will change global supply chains forever.
The latest news, analysis, services and systems regarding global logistics and freight and their impact on global supply chains. Today’s companies are transporting and delivering perishables and manufactured goods faster and farther around the world than ever before through global logistics solutions. New technologies that provide information during global shipments are transforming the way companies do business - and allowing them to stay ahead of the competition in their industries. As transportation and distribution services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using global logistics solutions to power their supply chains.
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