Month: February 2025

Press

Shipco Baltics Bolsters Import LCL Operations, Moves to Expanded Customs Warehouse

[Tallinn, Estonia] — Shipco Transport is pleased to announce the relocation of their customs warehouse in Tallinn, starting March 1, 2025. The move enhances the organization’s LCL import capabilities in the Baltics and beyond, further strengthening its commitment to providing efficient logistics solutions and added value to customers. The new facility offers expanded capacity and

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U.S. East and Gulf Coast Dockworkers Ratify New Six-year Contract

Members from the International Longshoremen’s Association (ILA) have officially ratified a new six-year master contract with their maritime employers, represented by the United States Maritime Alliance (USMX). Nearly 99% of ILA’s 45,000 registered members voted in favor, securing a 62% pay rise, faster wage increases, and improved benefits. Retroactive to October 1, 2024, the contract

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The EU Extends Red Sea Security Operation Through 2026

Shipping in the Red Sea remains uncertain, despite a slight rise in traffic. Security concerns are still keeping most vessels on longer routes around Africa. Although no merchant ships have been attacked this year, threats persist as Yemen’s Houthis warn they may resume attacks on vessels should the ceasefire between Israel and Hamas collapse.  The

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IMF Lowers Global Trade Growth Forecasts for 2025-2026

The International Monetary Fund (IMF) has revised its global trade growth projections downward in their January 2025 World Economic Outlook (WEO) report. According to Sea-Intelligence, the IMF projected that global trade growth is expected to reach 3.2% in 2025 and 3.3% in 2026, both of which are lower than historical average of 3.7% measured between

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Global Trade Shifts as Geopolitical Ties Reshape Markets: McKinsey

A new McKinsey Global Institute report examines how global trade is evolving based on four factors: trade intensity, geographic distance, geopolitical distance, and import concentration. The most significant ongoing shift in trade patterns is the decline in the average geopolitical distance of trade. Between 2017 and 2024, the measure dropped by -7%, indicating countries are

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Major Ports in North Europe Facing Increased Delays

European ports are currently grappling with significant delays due to record container volumes arriving from China, extreme winter weather, and ongoing labor challenges. In December, exports from China to North Europe recorded a 17.6% increase year-over-year, according to Container Trade Statistics (CTS) data. The influx of container arrivals, which started to reach European ports in

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