The P&I insurance that Gatik lost is important for vessels when they enter ports or sail through key waterways like Turkey’s ardanelles shipping straits.

The report also found that global transportation costs have fallen below their long-term average thanks to lessening pressures on shipping, rail, air and road freight. 

Rodolphe Saade, the French billionaire at the helm of shipping giant CMA CGM SA, has made an unsolicited $5.5 billion offer to buy Bollore SE’s logistics arm.

Marking the end of a “soft first quarter,” the Port of Los Angeles processed 623,234 TEUs in March 2023, marking continued volume decline.

Berlin is expected to adopt a more critical stance on China following Beijing’s increasingly militaristic threats against Taiwan.  

Brookfield agreed to buy Triton International Ltd., the world’s largest owner of intermodal shipping containers, for $4.7 billion.

The decrease in dwell time has been aided by the shift in trade patterns, with many shippers opting to use the Port of New York and New Jersey instead.

Aero Africa is launching a new sea-air transport product that will provide transportation from Asia to 70 different African destinations.

Clearance was given after claims that the cargo was from Kazakhstan, but data intelligence firms Vortexa and Kpler showed it originated from Russia.

The executive said he’s ordering new ocean-going vessels despite a slowdown in the industry following a boom during the pandemic, when some freight rates rose to record levels.