The JAXPORT Board of Directors on Monday unanimously approved a 20-year, $60 million agreement between Ceres Terminals and JAXPORT for the lease and modernization of the TraPac Jacksonville container terminal in Jacksonville, Fla.In a separate transaction…
Global trade bottlenecks are more the result of demand spikes than supply chain snags, with pressure likely to ease in the coming months, the World Trade Organization's chief economist said on Monday.The WTO had thought in October that demand for goods would slow early in 2022…
Two top European shippers warned on Wednesday freight costs were likely to remain high well into this year, offering no relief to customers including the world's biggest retailers, though they said bottlenecks should ease later in the year.Pandemic…
The U.S. trade deficit surged to a record high in 2021 as imports increased sharply amid the restocking of shelves by businesses to meet robust domestic demand.The sharp widening in the trade gap reported by the Commerce Department on Tuesday…
Ports giant DP World on Monday reported a 9.4% rise in 2021 container volumes, though growth rates moderated in the fourth quarter which the Dubai state company said was expected due to the impact of COVID-19, inflation and supply chain issues…
Efforts to speed up the movement of goods around the world have yet to solve the supply chain bottlenecks caused by surging demand for retail goods and pandemic-related lockdowns, the latest shipping data shows.Delays at U.S. major ports have been particularly severe…
Freight tech firm Loadsmart Inc said on Tuesday it was valued at $1.3 billion in its latest funding round, led by SoftBank Latin America Fund and funds managed by BlackRock Inc.The company raised $200 million in the Series D funding round from…
French shipping giant CMA CGM said it had struck a preliminary agreement to acquire a majority stake in French delivery firm Colis Prive, as it continues to build up its logistics business.CMA CGM is to buy 51% of Colis Prive from current owner…
Long-term contracted ocean freight rates fell 3.6% in January, according to the latest Xeneta Shipping Index (XSI) Public Indices, the second consecutive monthly rates decline following 14 straight months of increases. Despite the recent stumble…
The Federal Maritime Commission met in both open and closed session today to be briefed on efforts to address detention and demurrage, improve supply chain data transparency, and an ongoing investigation of Canadian government regulations that affect U…
On January 6, the Federal Maritime Commission announced an “Order of Investigation and Hearing” against Wan Hai Lines, Ltd, a vessel-operated common carrier (VOCC). The order charges that Wan Hai failed to “establish, observe, and enforce just…
TotalEnergies and CMA CGM launched Marseilles’ inaugural ship-to-containership Liquefied Natural Gas (LNG) bunkering operation in the Port of Marseille Fos, Southern France.CMA CGM BALI, a 15,000 TEU LNG-powered containership is deployed on the MEX 1service…
In the run-up to Christmas, there was considerable anxiety about shortages of festive food and gifts. Trade friction was already at the core of the Brexit debate, and supply chain issues have been made much worse by the COVID-19 pandemic.For example…
U.S. consumer spending on online shopping during the holiday season was weaker than expected, Adobe Analytics data showed, as supply chain issues caused product shortages and delayed deliveries.Consumers spent a record $204.5 billion online over the 2021 holiday season…
DP World on Tuesday announced that OASIS Group has become the latest business to locate at its port-centric logistics park at London Gateway in the U.K.The 108,973 sq ft warehouse will be taken on a long-term lease by OASIS Group, which provides…
