After colliding with the Hafnia Nile, the Ceres I appears to have then switched off its transponder for more than a day.

Many port operations were disrupted, and air freight was hit the hardest, with a recovery period of the complex air cargo network predicted to last days or weeks.

The firm with $4 billion of assets is keen to branch out from its Middle East base to play a larger global role as economic growth expands demand for shipping.

With concerns over transit delays in the Red Sea and the looming threat of an East Coast and Gulf port longshoremen strike, retailers began restocking shelves in June. 

The Port of Los Angeles processed 827,757 Twenty-Foot Equivalent Units (TEUs) in June, a 10% increase over the previous month

The cables were severed by the anchor of a cargo ship sunk by Iran-backed Houthi militants in late February.

Trump's proposal would include a 60% tax on all goods from China, which accounted for roughly 15% of all U.S. imports in 2023, by value.

June figures were down in part due to some vessel owners opting to unload or refuel at Malaysian ports to avoid delays.

There are signs these sanctions are proving effective, at least in terms of disrupting tankers that had been moving Russian oil.

Senator Tom Cotton requested the Biden administration provide a plan to protect Americans’ data from Shein, and identify whether Shein is complying with U.S. laws.