Maersk had already raised its 2024 profit forecast in May, June and August, as the Red Sea conflict was having a larger than previously expected impact.

China has threatened to raise tariffs on large-engine vehicles and said it will start collecting duties on cognac, in moves that would hit the EU’s two largest economies.

Houthi attacks in the Red Sea have since late 2023 forced container vessels to sail around southern Africa.

Disruptions in the Red Sea are increasing pressure on supply chain leaders to navigate conflicting priorities to manage budgets and maintain customer satisfaction.

In an increasingly unpredictable global market, the ability to adapt quickly and make informed decisions will be key to sustaining efficient operations and meeting growing consumer demand

While the ILA and USMX found common ground on wages, the remaining issues may prove to be thornier ones.

A strike at U.S. East and Gulf Coast ports enters its third day, with talks between the ILA and USMX remaining fraught.

Helene is already one of the deadliest mainland storms in the history of the U.S., with more than 100 people killed in the days since it first made landfall. 

The ILA has said that the most recent offer from the USMX "fails to address the demands of our members adequately."

The 900-foot ship was hit by an uncrewed surface vessel 64 nautical miles northwest of the rebel-held port city of Hodeidah.