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The Port of Los Angeles has reported its second-busiest April on record last month amid continuing efforts to clear cargo from marine terminals. April 2022 throughput came in at 887,357...

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

An engineer stuck on a cargo ship abandoned in a Black Sea port has waited four years to get paid and go home. Off the coast of Somalia, a crew awaiting pay languishes on a pirate-trawled stretch of the Indian Ocean while their ship slowly takes on water. Another 14 seafarers, stuck on a cargo ...

Top Maritime Regulator Sees Shipping Snarls Lasting to 2022 Getty Images The top U.S. maritime regulator said stretched global supply chains pushing ocean-freight rates to record highs may stay strained into 2022, raising concerns about whether small American companies can weather another year of a tangled transport system and much higher costs. “As you see the pandemic lift, I think you’re going to see changes in what’s demanded but demand is going to go up even further,” Dan Maffei, c...

The worlds largest private and publicly held container carriers collectively posted record profit of $19.1 billion in the first quarter, more than double the previous all-time high of $9.1 billion set the prior quarter

At the start of 2021, things may not have been looking too optimistic. New variants of COVID-19 were emerging and many nations and states re-entered into draconian lockdowns that potentially halted a strong consumer rebound. To further complicate matters in March, the Suez Canal was blocked for almost a week by a large container ship owned by Evergreen Marine, holding up a cohort of other commercial vessels. Many would assume another disaster loomed for the shipping industry. On the contrary, ...

The ten-year bull run in international equities combined with the poor performance of the JSE over the last five years has resulted in a growing interest among South African investors in offshore investing. This is putting pressure on local fund managers to provide international investment skills to their clients – which is no small ask considering there are 3,530 stocks listed in the US alone – before one counts Europe and Asia – relative to the 350 listed on the JSE. In the face of this...

Synopsis The world’s top container line, A.P. Moller-Maersk A/S, this month called the challenges “the most dramatic stress test of the past 75 years.” Shares of Maersk are flirting with an all-time high and the industry more broadly banked profits of $5.1 billion in the third quarter, a four-fold increase from a year earlier Container shipping, the backbone of the global trading system, is showing signs of fatigue as the pandemic descends into its darkest days. Carriers reaping the bigg...

By Brendan Murray (Bloomberg) – Container shipping, the backbone of the global trading system, is showing signs of fatigue as the pandemic descends into its darkest days. Carriers reaping the biggest profits in at least a decade are struggling to operate reliably as bottlenecks worsen around ports from southern England to Shanghai, contorting supply chains for everything from car parts to cosmetics and medical equipment. Just 50.1% of container vessels arrived on time in November, down from...

Bottlenecks Wear Down World Economy’s Fleet of Container Ships Bloomberg 12/22/2020 (Bloomberg) -- Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and  Popular Searches Container shipping, the backbone of the global trading system, is showing signs of fatigue as the pandemic descends into its darkest days. Carriers reaping the biggest profits in at least a decade are struggling to operate reliably as bottlenecks worsen around ports from southern...