Business
The re-routing of merchant ships around Cape of Good Hope instead of crossing the Bab-al-Mandab has not only led to significant changes in trade patterns and tonne-mile demand, but has also resulted in certain operational challenges, especially regarding the procurement of certain stores and spares items, according to a report by Drewry.The Port of Suez had been used as a main procurement hub by many vessel operators crossing the Suez ...
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Global container volumes increased 6 percent in 2024 to 183.2 million twenty-foot-equivalent units, according to full-year figures from Container Trades Statistics Ltd., or CTS.Three months in 2024 – May, August and December – each surpassing 16 million TEUs, a first in history. This achievement contrasts ...
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Maryland officials on Feb. 4 unveiled the new design concept for the Francis Scott Key Bridge rebuild, which will replace one of Baltimore’s most iconic transportation landmarks.The design is a significant milestone in the multiyear project to restore the connection following the allision of the ...
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The Port of Baltimore's state-owned public and private marine terminals handled 45.9 million tons of cargo in 2024, its best year since 2023 when the port handled a record 52.3 million tons.More than 25.5 million of the nearly 46 million tons of cargo were handled ...
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ABB, the Swedish-Swiss electric engineering corporation, and Sage Geosystems, a leading geothermal baseload and energy storage company, have agreed to collaborate on developing energy storage and geothermal power generation facilities that utilize natural heat from the earth’s core to produce clean electricity.The collaboration will allow ...
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DP World’s ports and terminals handled a record 88.3 million twenty-foot equivalent units, or TEUs, in 2024, up 8.3 percent year-on-year despite macroeconomic headwinds and concerns over the outlook for global trade.The Middle East logistics giant, whose global logistics business has capacity to handle more ...
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Companies in states that backed President Donald Trump's election could pay twice as much for new steel and aluminum tariffs, according to Trade Partnership Worldwide’s state tariff database.Based on 2024 data, new tariffs could add US$11.4 billion in extra import taxes, with US$7.6 billion (67 ...
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SC Ports proudly welcomed the OOCL Iris to the Wando Welch Terminal on Feb. 18. At 16,8282 TEUs, vessel is the largest to ever call Port of Charleston.The record was previously held by CMA CGM’s Marco Polo, which first called on Wando Welch in May ...
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Freight forwarder Yusen Logistics Co. Ltd. said it has reached an agreement for sustainable shipping solutions through liner shipper Ocean Network Express’ ONE LEAF+ green shipping service.Under this agreement, ONE will use sustainable biofuels for propulsion, achieving up to 84 percent reduction in well-to-wake CO2 ...
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Global iron ore shipments fell 7 percent year over year, during the first seven weeks of 2025, amid supply disruptions and weak Chinese import demand, international shipping association BIMCO said.Australian cargoes have fared the worst, down 10 percent year over year, while shipments from Brazil ...
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