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...While no one has yet claimed responsibility for the incident, Tanker Trackers, a private maritime intelligence service, suggested it was likely to be Iran....
...A US hedge fund is seeking to reverse a high-profile deal between Frontline, controlled by shipping magnate John Fredriksen, and one of Belgium’s oldest shipping dynasties....
...Container shipping alliances offer customers a wider range of destinations and services because lines share space on each other’s ships....
...GXO, which is based in Greenwich, Connecticut, specialises in providing supply chain services including customer deliveries....
...Transits along the route are almost 70 per cent higher so far this year, according to the IMF’s Portwatch service. This is sparking fears of a supply crunch of ship capacity....
...According to Clarksons, the shipping services group, long-distance seaborne car shipments in 2023 were 17 per cent higher than the previous year, largely because of big increases in exports from China....
...Maersk, operator of the world’s second-biggest container ship fleet, said it had “suspended” slow-steaming on some services to catch up on “some of the delay” from sailing around the Cape of Good Hope....
...“It is always inevitable that Hong Kong would contract as a port,” said Tim Huxley, chair of Hong Kong-based shipping investment company Mandarin Shipping. “Manufacturing moved elsewhere....
...“I’m not so much of the view that there’s a huge oversupply in the container shipping industry,” Nixon said....
...Mike DeWine, the Republican governor of Ohio, announced in June this year that Amazon Web Services intended to invest $7.8bn in data centres in central Ohio by the end of the decade....
...service, said an already bad situation in the Red Sea and Gulf of Aden had “got worse”....
...Lines are also facing high costs to lease the extra ships required to maintain services via the longer routes and higher insurance rates. “It’s more fuel that’s needed, more maintenance, storage . . ....
...Recent Houthi attacks on container ships in the Red Sea have begun to push up air freight rates and shown fresh pockets of demand for such services....
...CMA CGM, the French shipping group, last month agreed to buy the company for 450p a share in a recommended bid....
...new services....
...Shipping lines are also diverting some services between Asia and the US east coast that previously went via the Red Sea and the Suez Canal....
...Figures from Clarksons, the London-based shipping services company, suggested that more classes of ships were beginning to divert: between January 13 and 15, arrivals of dry bulk carriers in the Gulf of...
...Figures from Clarksons, the London-based shipping services company, show that in the week to January 28 average daily arrivals of dry bulk vessels around the mouth of the Red Sea were down by 45 per cent...
...Beyond meeting its own logistics needs, Amazon’s third-party shipping service could mushroom into a new business area akin to its cloud computing....
...Mallon expressed hope, nevertheless, that shipping lines’ service patterns would “stabilise” as arrivals via the Cape settled into a regular pattern....
...The sector has consolidated in recent years, partly because container shipping lines have sought to use the profits they made during the pandemic to buy logistics businesses and expand the scope of their...
...“Seizing tankers is a go-to Iranian move to demonstrate their capabilities and to create problems,” said Tobias Borck at the Royal United Services Institute think-tank in London....
...Maersk has ordered substantially less ships than rivals such as industry leader Mediterranean Shipping Company, as it funnelled its earnings into warehousing, planes and broader logistics services....
...Ohio-based Cleveland-Cliffs steel was awarded up to $500mn to replace one of its Middletown blast furnaces to be “hydrogen-ready”, among other measures....
...Hapag-Lloyd said it had slashed services on several routes to save costs, but unlike rival Maersk, which last week announced 10,000 job cuts, said lay-offs were not on the table....
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