U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct. 1 strike that could jam supply chains and reignite inflation ahead of the U.S. presidential election.
A threatened Oct. 1 strike by dockworkers at ports on the U.S. East Coast and Gulf of Mexico would immediately disrupt the flow of goods in the country, the North America chief executive of French container carrier CMA CGM said on Wednesday.The International Longshoremen's Association union represents 45,000 workers at 36 ports including New York/New Jersey, Houston and Savannah, Georgia.
Imports of U.S. container cargo in August jumped 12.9% from a year ago as a summer volume surge delayed cargo at major ports and anxiety builds over a threatened longshore worker strike on the East Coast and Gulf of Mexico on Oct. 1, trade data provider Descartes Systems Group said on Tuesday.U.S. seaports processed almost 2.5 million 20-foot equivalent units in August.
An engine room fire led to the evacuation of dozens of passengers from a NY Waterway ferry during the busy rush hour commute on Tuesday evening.The 65-foot vessel Father Mychal Judge was transiting along the Hudson River en route from Manhattan to New Jersey when the blaze broke out on board.
Retailers are fueling a summer rush of imports to the United States this year as companies guard against a potential strike by port workers and ongoing shipping disruptions from attacks in the Red Sea ahead of a shortened holiday shopping season.Container imports and freight rates surged in July
Salvage operations were in high-gear on Thursday to prevent a potential oil spill and pollution along South Africa's west coast from a grounded general cargo vessel, authorities said.The Panama-flagged "Ultra Galaxy" ran aground close to Doring Bay, some 300 km north of Cape Town, late on Tuesday after it started listing badly.
Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta.
Venezuela's loss of a key U.S. license that allowed it to freely export and increase investment in its oil sector will hit the volume and quality of its crude and fuel sales while prompting a flurry of requests for individual U.S deal authorizations.U.S. officials had warned that absent progress by President Nicolas Maduro on implementing an electoral roadmap agreed last year, the U.S.
The collapse of Baltimore's Key Bridge has highlighted what engineers say is an urgent need to better protect the piers holding up spans over shipping channels as the size of cargo ships has grown in recent decades.Federal authorities continue an investigation into why a massive cargo ship lost power and crashed into a pier of the Francis Scott Key Bridge early Tuesday
A merchant ship sailing off Somalia has been hijacked by unknown raiders, Spain's defence ministry said on Tuesday, fuelling fears pirates are returning to the Gulf of Aden and Red Sea waters already plagued by a surge in attacks on shipping.A Spanish warship rushed to check on the Maltese-flagged vessel Ruen on Friday after reports it had been hijacked.
The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, stoking fears of sustained disruptions to global trade.The Houthi militant group, which controls vast amounts of territory in Yemen after years of war
A Spanish navy ship is sailing at full speed towards a Maltese-flagged commercial vessel that may have been hijacked by pirates off Somalia, the European Union's Somali counter piracy force said on Friday.If confirmed, it would be the first successful hijacking involving Somali pirates since 2017 when a crackdown by international navies stopped a rash of seizures in the Gulf of Aden and the