Freight News
The global container ship order book reached a record 8.3 million 20-foot equivalent units, or TEUs, compared with the previous high of 7.8 million TEUs in early 2023, said Niels Rasmussen, chief shipping analyst at BIMCO.As 4.4 million TEUs were contracted during 2024 – the second highest ever – the order book grew despite deliveries hitting a new record high of 2.9 million TEUs. “Making up 92 percent of the ...
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Biden Blocks US Steel-Nippon Steel Deal
President Joe Biden has stepped in to block the US$14.9 billion takeover of U.S. Steel by Nippon Steel of Japan, claiming the proposed sale posed a potential national security threat.Merely days before leaving the White House, Biden issued an executive ...
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The International Longshoremen’s Association, or ILA, and U.S. Maritime Alliance, or USMX, will reportedly resume talks for a new master contract on Jan. 7, a little more than a week before a contract extension runs out on Jan. 15, according to a report by the ...
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Multimodal transportation giant Schneider National Inc. in November entered into a definitive agreement to acquire Cowan Systems LLC and affiliated entities for a cash purchase price of about US$390 million, subject to certain adjustments.The sale includes separate agreements to purchase certain real estate assets relating ...
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Savage, the Salt Lake City-based of supply chain infrastructure and solutions provider, has only the fourth CEO in its 80-year history.Jeff Roberts took the reins Jan. 1, following the retirement of his predecessor, Kirk Aubry. Savage presented its CEO succession plan in June 2024, when ...
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Mexican President Claudia Sheinbaum on Dec. 20 introduced measures to protect the Mexican textile and apparel industries while addressing compliance challenges under the country’s IMMEX program, according to a report from Sandler, Travis and Rosenberg PA.“These changes represent a significant shift in Mexico’s trade and ...
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The U.S. economy in November displayed resilience amidst a transitioning monetary policy and external disruptions but faced ongoing challenges in housing affordability, labor market cooling, and inflationary stickiness, according to the latest ITS Logistics Supply Chain Report.Growth prospects also remain modestly positive, with fiscal and ...
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Drewry, the maritime research and consultancy, said its World Container Index increased 3 percent to USUS$3,905 per 40-foot equivalent unit, or FEU, the week of Jan. 2.The latest Drewry WCI composite index is 62 percent below the previous pandemic peak of USUS$10,377 in September 2021, ...
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The Containerization & Intermodal Institute, or CII, honored Allen Clifford, executive vice president, MSC Mediterranean Shipping Co. (USA) Inc. with the 2024 Connie Award in front of nearly 600 transportation industry experts gathered on Dec 9 in Newark, NJ.Additionally, Clifford Pyron, advisor at Georgia Ports ...
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Estes Express Lines and R+L Carriers affiliate Ramar Land Corp. said they will pay US$192.5 million for eight owned properties and four leased terminals from the administrators of Yellow Corp., the bankrupt less-than-truckload carrier.Estes will pay US$142.5 million for seven owned and four leased terminals ...
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