In any other year, expectations of strong sales for the upcoming holiday shopping season would be the fulfillment of a dream for retailers. Instead, it’s shaping up to be something of a nightmare.
The number of container ships waiting to enter the biggest U.S. gateway for trade with Asia reached an all-time high of 65 vessels late last week, carrying potential payloads of cargo boxes that would stretch halfway across the country if lined up end to end.
Shipowners and financiers should avoid sinking money into new container vessels despite a global crunch because record orders have driven up prices, according to industry insiders.
The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing under the weight of COVID-19 drives freight prices ever higher.
Shanghai has halted some container port operations and will cancel most flights Monday and Tuesday as Typhoon Chanthu approaches the city, which is China’s financial capital and a major shipping hub.
Simon Geale, executive vice president of procurement with Proxima, weighs the prospects for transportation infrastructure development under the initiative spurred by the Biden Administration and Congress.
The International Chamber of Shipping, which represents more than 80% of the world’s merchant fleet, submitted a plan to the industry’s global regulator for a charge on carbon dioxide emitted by vessels.
Europe’s first environmental impact assessment for the shipping industry shows the challenge it faces in reaching the goal of climate neutrality by the middle of the century.
The latest news, analysis, services and systems regarding ocean transportation and its impact on global supply chains. Today’s companies are transporting and delivering container shipments in a more efficient manner than ever before using new services and technologies that provide information en route - allowing them to stay ahead of the competition in their industries. As ocean cargo services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using ocean shipping solutions to power their supply chains.
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