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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....
...The re-routings and the Panama Canal delays have created the most severe disruption to international supply chains since the Covid-19 pandemic and raised the costs of moving goods by sea to the highest levels...
...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”....
...We guess the message of this post is that despite the deglobalisation freight train, the world is still an interconnected place....
...It’s not surprising that the shipping industry and international traders have learnt to absorb shocks without noticeable effects on world trade and inflation....
...“Although shipments from countries like China might be safe, the freight costs have increased . . . it’s a very bad thing for China.”...
...A recent report by the Bank for International Settlements has explored this issue in depth....
...A US-led international coalition to provide security for freight is gaining momentum. Meanwhile water levels in the Panama Canal have improved slightly....
...Putin claimed Russia’s 2023 growth was “founded foremost on domestic consumer and investment demand”, which he said included record spending on construction as well as industry, agriculture, tourism, and freight...
...A more substantive concern is if the attacks kick off a series of assaults on shipping elsewhere, and that may depend on the robustness of the US-led international response to the Houthis....
...governments and international creditors to transform a railway operator struggling with €11bn in accumulated debt....
...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...
...International Container Terminal Services, a Filipino company, will run Durban port after a deal was clinched with unions to protect jobs....
...One thing: upward pressure on freight rates on the China-US west coast routes may be easing....
...Some manufacturers are resorting to air freight for critical parts. Fears of a prolonged disruption have pushed container shipping costs to the highest level outside the coronavirus pandemic....
...“International requirements [for companies to reduce their carbon footprint] are becoming horrendously important. Cargo owners [prefer rail] to trucks....
...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....
...The risks have risen as international trade in goods has increased and ships have grown larger....
...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...
...“We always try to work locally and reduce freight miles,” says Attali. Burrows feels the same. “We’re hoping to get more of our Nordic artists to come here to do residencies,” she says....
...Mærsk’s share price jumped 7 per cent on expectations that the crisis would cause freight rates to rise. Additional reporting by Felicia Schwartz...
...Diesel is the workhorse fuel for the region, widely used in freight and aviation as well as for heating many homes....
...Flight delays cost fuel and time, while also holding up freight, which will require more capacity as logistics demand takes off....
...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...
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