Each year about 90% of world trade is transported by ship, according to the World Economic Forum. While commodities like oil and grain make up 40% of that cargo, large steel containers, filled with appliances, smartphones, and couches, make up the remainder. With its fleet of over 670 vessels, Maersk, one of the world’s largest … Read more
Baltimore City Fire Boat 2 floats past the Dali container vessel after it struck the Francis Scott Key Bridge that collapsed into the Patapsco River in Baltimore, Maryland, U.S., on Tuesday, March 26, 2024. Bloomberg | Bloomberg | Getty Images The collapse of a major Baltimore bridge and its knock-on effects could result in the … Read more
The Key Bridge was hit by a ship and collapsed on March 26, 2024. The Washington Post | The Washington Post | Getty Images Six construction workers were presumed dead on Wednesday after a massive cargo ship struck the Francis Scott Key Bridge in Baltimore, causing it to partially collapse into the Patapsco River. The … Read more
The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. Roberto Schmidt | Afp | Getty Images Logistics companies up and down the East Coast were urgently relaying messages back and forth to clients Tuesday on the status … Read more
The Biden administration is expanding a freight data partnership with major U.S. companies to track the movement of goods in real time. On Wednesday, the Department of Transportation is announcing that its digital platform for supply chain monitoring, Freight Logistics Optimizations Works (FLOW), is being expanded to capture and publish data on inland freight ports, … Read more
The potential for a strike by the largest union of maritime workers in North America, the International Longshoremen’s Association, is beginning to rise on the list of concerns among logistics decision-makers and advisors in a year already fraught with a multitude of trade uncertainties. Red Sea diversions and Panama Canal drought restrictions are already influencing … Read more
Aerial view of a tanker. Bugto | Moment | Getty Images The Iran-backed Houthi militant group on Sunday damaged a ship offshore Yemen, prompting its crew to abandon the vessel in the latest escalation of maritime tensions that have disrupted key trade routes in the Red Sea. The U.K. Maritime Trade Operations said on social … Read more
The Ebba Maersk container ship, operated by A.P. Moeller-Maersk A/S, leaves Suez port and heads towards the Red Sea after passing through the Suez Canal in Suez, Egypt on Saturday, April 6, 2013. Kristian Helgesen | Bloomberg | Getty Images A.P. Moller-Maersk, the second-largest global ocean carrier, is advising customers to prepare for a Red … Read more
Giant gantry cranes and off loading freighter in Haifa container port, Israel. Ucg | Universal Images Group | Getty Images LONDON — Danish shipping giant Maersk on Thursday flagged “high uncertainty” in its 2024 earnings outlook as Red Sea disruptions continued to weigh on the industry. The company also said that it would be suspending … Read more
Houthi supporters hold up rifles as they rally to protest the killing of Saleh al-Samad, a senior Houthi official, by a Saudi-led coalition air strike in Hodeidah, Yemen April 25, 2018. Abduljabbar Zeyad | Reuters The U.S. State Department on Wednesday designated the Iranian-backed, Yemen-based Houthi rebels as specially designated global terrorists, or SDGTs, in … Read more
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