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...Maersk is a bellwether of global trade, carrying about a fifth of ocean freight....
...The International Energy Agency said on Friday that Russia’s oil export revenues in July reached their highest level since the cap was introduced, even without including inflated freight costs....
...As Marco Forgione, director-general of the Institute of Export & International Trade, pointed out, for SMEs an additional £145 per consignment “might mean their entire profit being wiped out completely”....
...The shift in transport mode, mainly a result of decisions by big container shipping line to send ships around the Cape of Good Hope, has helped push up air freight costs....
...Industry-wide ASK has shrunk 5.6 per cent over the same period as many carriers retrenched during the pandemic, according to the International Air Transport Association....
...It’s not surprising that the shipping industry and international traders have learnt to absorb shocks without noticeable effects on world trade and inflation....
...Some 4.7bn people are expected to take to the skies in 2024, according to the International Air Transport Association. That is 200mn more than the pre-pandemic high set in 2019....
...Even with sharp lay-offs to come, Maersk might lose $500mn this year, according to Visible Alpha consensus. A rebel-provoked rally in freight rates might help soften that....
...CSX, one of the biggest freight railroad companies on the east coast, said customers should expect delays due to the bridge collapse, adding that all international intermodal shipments destined for Baltimore...
...The risks have risen as international trade in goods has increased and ships have grown larger....
...Only in 2013 did Musk jazz up the idea in true Silicon Valley style, with a white paper titled “Hyperloop Alpha”, setting off a frenzy of research and investment to make it a reality....
...A US-led international coalition to provide security for freight is gaining momentum. Meanwhile water levels in the Panama Canal have improved slightly....
...A version of this article was first published by Nikkei Asia on November 23. ©2023 Nikkei Inc. All rights reserved....
...International Container Terminal Services, a Filipino company, will run Durban port after a deal was clinched with unions to protect jobs....
...Cargill’s head of ocean transport has called on the shipping industry to give wind power a chance in its efforts to decarbonise, as one of the world’s largest marine freight operators prepares to test the...
...Amazon has invested heavily on its own network and operates more than 1,000 facilities throughout the US, according to the logistics consultant MWPVL International....
...But the Center for Global Development think-tank says the US contributes 0.2 per cent of gross national income to protect international waters, as against an average of 0.015 per cent of the world’s 40 most...
...This is when these (usually alpha) personalities have to leave the comfort of their loyal individual fiefdoms and work with colleagues who have also risen up the ranks....
...transport....
...Shares in some of the biggest shipping companies also climbed, extending gains from last week as investors expect disruptions will cause freight rates to rise, boosting earnings....
...transport executives....
...Mærsk’s share price jumped 7 per cent on expectations that the crisis would cause freight rates to rise. Additional reporting by Felicia Schwartz...
...The group is also expanding the international reach of its low-cost carrier Anadolu Jet....
...Forgione said the disruption had highlighted bigger questions about the resilience of global trade, and suggested alternative manufacturing sources and transport methods such as air freight should be considered...
...Apollo Global Management has shed its financial exposure to failed US trucking company Yellow, selling off a $500mn term loan and dropping plans to extend pricey financing to fund the freight group’s bankruptcy...
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