Last year, the waterway saw a record 36 million tons of cargo pass through, of which more than half was super-chilled liquefied natural gas.

The Glovis Sun — carrying a couple thousand cars as its cargo — had recently traveled around Southern Africa, before arriving at the Port of Zeebrugge on July 18.

The overhaul will take years to take root, and will require support from customers who’ve been burned by Boeing’s delays and quality lapses.

A potential fly in the ointment is the looming possibility of increased tariffs on internationally sourced goods, which appears likely under a Republican government.

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.