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...“The opportunity for America is to embrace companies like us. The risk is that they don’t and other markets like China do,” said CEO Gerard Barron....
...Announcing the passing of the Ocean Shipping Reform Act, President Joe Biden drew attention to the “nine foreign-owned” businesses that dominate shipping and promised to “crack down on ocean carriers whose...
...The Behshad is registered as an ordinary dry bulk carrier, and outwardly looks like any of the thousands of such vessels that ply the oceans....
...Mainly sold to refineries in China, ESPO has consistently traded well above the $60-a-barrel price cap imposed by the G7 in December 2022....
...freight shipping rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...The other big alliance — the Ocean Alliance — between France’s CMA CGM, China’s Cosco and Taiwan’s Evergreen — controls 29.3 per cent of the fleet....
...A Chinese state-owned shipping company building one of Latin America’s biggest deepwater ports has criticised a move by the Peruvian government to remove its exclusive right to operate the facility....
...China is shipping more goods to the US via Mexico, circumventing steep tariffs imposed by the Trump administration and retained by Joe Biden’s White House, according to a Financial Times analysis of trade...
...The disruption comes at a particularly sensitive time, notes Philip Damas of Drewry Shipping Consultants, with China’s producers rushing to get goods to Europe before they shut for Chinese new year....
...China meanwhile has tripled its production relative to the US over the past two decades, producing over 1,000 ocean-going vessels last year, versus America’s 10....
...North America and Africa’s total tracked and untracked fishing was 7 per cent of the global total each, while in South America and Australia it was 4 and 2 per cent respectively....
...The shipping industry is stepping up efforts to build steel containers outside China, lining up the spare capacity needed to shield a key component of global trade from supply chain pressures and geopolitical...
...The canal authority said October was the driest in the region since 1950, partly fuelled by the El Niño phenomenon, which warms the Pacific Ocean and affects temperature and rainfall around the world....
...TikTok, shipbuilding and the solar industry are the latest flashpoints in the simmering US-China trade tussle, which is rapidly moving up the political agenda ahead of America’s presidential election in...
...The area between Shan and Indian Ocean-facing Rakhine state is key to China’s Belt and Road infrastructure-building initiative....
...“Now carmakers are back to production, coupled with China exports, shipping is becoming more of a battle.”...
...In central Asia, as well as China, Japan, Indonesia and Pakistan, parts of the country were wetter than normal for winter....
...These days the real chokepoints of globalisation are more varied in function and location, from the ocean floor to space orbit, and their resilience more uncertain....
...Many factors explain this remarkable resilience, but an important one is the role America has played over recent decades in keeping shipping lanes open, particularly by clearing them of pirates....
...Analysts at Bank of America gamed out the doomsday scenario in December. They looked at the possible consequences if both the Panama and Suez Canals become impassable....
...They accounted for over half of the container shipping by volume scheduled between Asia and North America in the third quarter, according to estimates from trade analysis group MDS Transmodal....
...The current hostilities also underline the risks of leaving the policing of ocean trade to a single superpower....
...“We’re going to do what we have to do to protect shipping” he told ABC’s Good Morning America show on Sunday, adding that the US had “significant national security interests in the region”....
...goods to market”, the “increasing digital interconnectedness of our economy and supply chains” had also “introduced vulnerabilities that, if exploited, could have cascading impacts on America’s ports, the...
...Additional reporting by Eung Sea A version of this article was first published by Nikkei Asia on March 12. ©2024 Nikkei Inc. All rights reserved....
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