The Port of Los Angeles has hit a three-month record, handling over 2.9 million TEUs from June to August. Despite supply chain disruptions and changing tariff policies, the port has seen strong import volumes, with over 955,000 TEUs processed in…
The Consultative Shipping Group, comprising 18 major shipping nations, has issued a warning that global trade is fracturing due to conflicts, trade disputes, and extreme weather events. The group’s statement, published by Denmark’s maritime authority, highlights the impact of the…
Global tanker freight rates have reached record levels, with daily earnings for Very Large Crude Carriers (VLCCs) nearing $800,000, as conflicts in the Persian Gulf and Red Sea disrupt oil transport. The surge is driven by increased voyage lengths, constrained…
The Labor Department reported that US wholesale inflation rose 5.4% in August from a year ago, up from 4.7% in July, as higher oil and gas prices linked to the Iran war kept costs elevated. The producer price index rose…
Oil prices have remained above $100 a barrel for the second day, with Brent crude rising 0.3% to $101.52 a barrel. The latest attacks between the US and Iran have stifled the flow of oil through the Strait of Hormuz,…
An Amazon-branded Boeing 767 operated by 21 Air crashed after overshooting the runway at Miami International Airport on September 6, killing five people in a van. The incident has put the spotlight on Amazon’s use of contractors for its air…
The estate of Yellow Corp. has reached a settlement with four multiemployer pension plans worth up to $526 million, as the company’s bankruptcy proceedings continue. The proposed agreement, which has the support of Yellow’s largest shareholder, MFN Partners, will be…
Zvi Schreiber, founder of cargo booking platform Freightos, is calling for a board shakeup, including the ouster of Chairman Udo Lange, citing a 62% drop in the company’s share price during Lange’s tenure. Schreiber is seeking a new chairman with…
A senior Iranian official has stated that the country is prepared for a more intense conflict with the US and will not back down despite mounting economic damage. Recent exchanges between the two nations have included US strikes on Iranian…
An Amazon cargo plane that crashed at Miami International Airport on September 6 increased thrust just seconds before it overran the runway and careered into two vehicles, the National Transportation Safety Board (NTSB) said. The crash killed five people and…