Through the first four months of 2023, the Port of Los Angeles processed over 2.5 million TEUs, a 29% drop-off compared to the first four months of 2022.

Ocean Network Express and Wan Hai Lines were fined for unwarranted container detention charges by the FMC.

Owners of newer ships are also doing well, getting high prices for old ships while benefiting from strong tanker rates.

Aggregated speed for the global LNG vessel fleet has declined, going from an average of about 14 knots for April in previous years, down to 13 knots in April 2023.

Macquarie is looking for $1 billion for the business but strategic buyers in the shipping sector may be limited.

The pull-back will likely offer some relief to the oil market, where long-haul arbitrage cargoes have had more difficulty due to elevated freight rates.

CMA CGM said it is committed to acquiring Bolloré Logistics for €5 billion in a deal that would add 14,000 employees to the company's workforce.

Bed Bath & Beyond filed a complaint stating Orient Overseas Container Line participated in practices that cost the world-famous retailer $31.7 million.

The incident is the latest flare-up in one of the world’s most oil-rich regions, after Iran seized another tanker in the nearby Gulf of Oman April 27.

The new five-year policy aims to strengthen Japan's maritime security in response to increased assertive actions from China and other nations.