Russia Plans A Suez Canal Substitute
At the St. Petersburg International Economic Forum (SPIEF) on Thursday, Russian Transport Minister Vitaly Saveliev said that the amount of cargo shipped through the North South Transport Corridor (INSTC), which…
West Coast Ports Shut Down Due To Lack Of Workers Amid Labor Dispute
On Friday, after months of strained negotiations between the unions representing West Coast dock workers and their employers, a shortage of workers showing up to shifts forced the Ports of…
Maersk Sells Off Logistics Sites In Russia As Pullout Is Nearly Complete
A.P. Moller-Maersk, the Danish shipping and logistics giant has announced it will sell off both of its logistics sites in Russia to Cyprus-registered IG Finance Development. The move is the…
Baltic Dry Index Continues To Fall
On Wednesday, the Baltic Dry Index continued its decline, adding to Tuesday’s biggest daily drop since 1984. Weaker demand across vessel segments arising from China’s ongoing battle with Covid-19, the…
FedEx Reports Package Shipments Are Falling
One Wall Street analyst is sounding the alarm about FedEx’s vulnerability in 2023, especially if the US economy enters a recession. On Monday, EvercoreISI Jonathan Chappell wrote in a note,…
Biden Calls On Congress To Avert Rail Strike
President Joe Biden is calling on Congress to step up and intervene to avert a pending rail strike which could cripple the US economy as rail transport services for goods…
White House Trying To Avert Impending Rail Strike
On Thursday the White House said it is in negotiations to attempt to avert a pending railroad strike which could close off supply lines across the nation, however thus far…
Maersk Sees Global Shipping Declining
Danish shipping company Maersk slashed its forecast for shipping container demand this year, as it warned that this week saw a collapse in demand for transport and logistics services. Maersk…
FexEx Report Sounds Alarm Over Global Economy
Fed Ex sent shares tumbling in extended trading when it withdrew its full year’s earnings guidance, and reported preliminary first quarter results that failed to meet analyst estimates. FedEx CEO…
Railroads And Rail Worker Unions Strike Deal, Avert Strike
Railroads and rail workers unions have struck a tentative deal early Thursday which should avert a national rail strike that threatened to disrupt shipping and travel across the country. Since…
