The approach has brought new costs and logistics hurdles for supply chains that are adding a new twist to globalization.

The change will bring much-needed liquidity into the benchmark, which for years has been suffering from shrinking supplies.

The P&I insurance that Gatik lost is important for vessels when they enter ports or sail through key waterways like Turkey’s ardanelles shipping straits.

The report also found that global transportation costs have fallen below their long-term average thanks to lessening pressures on shipping, rail, air and road freight. 

The U.S. Customs and Border Protection agency signed a deal with the Customs Administrations of Guatemala and Colombia to establish a standard set of supply chain security requirements.

Rodolphe Saade, the French billionaire at the helm of shipping giant CMA CGM SA, has made an unsolicited $5.5 billion offer to buy Bollore SE’s logistics arm.

Airbus began notifying airlines about expected delivery delays that will take place in 2024 while remaining confident this doesn't indicate worsening supply chain issues.

Late payments also add to the financial pressures impacting suppliers, with 42% saying they expect to face increased borrowing costs over the next 12 months.

India is also rising as a manufacturing base for the iPhone as Apple diversifies its supply chains away from China.

The Biden administration did give automakers some wiggle room on the requirements, following an intense lobbying blitz after its passage in August.