The new cooperation between Hapag-Lloyd and Maersk will comprise a fleet pool of around 290 vessels with a combined capacity of 3.4 million containers (TEU); Maersk will deploy 60% and Hapag-Lloyd 40%.

The California-based oil giant is working with naval authorities in the U.S. and Middle East to move its cargoes through the region, said CEO Mike Wirth.

ShippingWatch said the pact would involve shipping companies agreeing to not go to Israel in return for being allowed through safely.

The Southeast Asian nation will likely see weaker demand from Indonesia, its top buyer last year, Thai Rice Exporters Association Honorary President Chookiat Ophaswongse said January 4

Those who support the importation policy have said that buying drugs from other countries could help lower medication costs in the U.S.

Since the Houthi attacks began, an estimated 181 vessels have been rerouted around Africa, while another 26 ships are opting to drift

A call to action for supply chain and procurement leaders to demand better intelligence platforms.

Physical operations will present the biggest challenge to companies at the beginning of 2024 with the ongoing conflict in the Middle East coupled with climate issues disrupting shipping networks.

2023’s peak season will have seen supply chain professionals both relying on tried-and-true peak season strategies and testing next-gen solutions.

A preview of what to expect at Manifest 2024, the premier gathering of supply chain executives, logistics service providers, innovators and investors.