Two of the United States’ largest freight railroads have received overwhelming shareholder support for a landmark merger. Union Pacific (UP) will acquire Norfolk Southern (NS) in an $85 billion transaction, with 99.5% of UP shareholders and 99% of NS shareholders voting in favor. The combined network will span 50,000 miles of rail across 43 states,
Maersk and Hapag-Lloyd are exploring introducing premium charges in connection with higher schedule reliability under their vessel-sharing alliance, the Gemini Cooperation, according to several news reports. From the outset, the network was designed to achieve a target of delivering the 90% schedule reliability with its fully-phased in network. In an investor update, Maersk CEO Vincent
Global air cargo demand rose 4% year-over-year (y/y) in October. This stronger-than-anticipated performance comes despite reduced frontloading and the end of the U.S. de minimis exemption on August 29. However, capacity growth outpaced demand, increasing 5% y/y for the second consecutive month. As reported by Supply Chain Dive, it cited Xeneta’s Chief Airfreight Officer, Niall
The 12-month trade truce between the U.S. and China, coming into effect on November 10, has brought temporary relief to the global shipping market. Amongst other measures, both countries have agreed to the suspension of reciprocal port fees and a 10% reduction of U.S. tariffs on Chinese imports. Despite these steps, analysts warn that the
Sea-Intelligence warns that the continued injection of capacity by carriers will have a “destabilizing impact”. In issue 739 of the Sea-Intelligence Sunday Spotlight, it was noted that vessel utilization on the Trans-Atlantic Westbound route was under pressure. The analyst said spot rates from Rotterdam to New York were at historic lows and pointed to negative
The Suez Canal Authority (SCA) reported a strong rebound in vessel traffic, with 229 ships transiting in October. This was the highest monthly figure since the onset of the regional crisis, according to SCA Chairman Osama Rabie. Industry sources, including gCaptain, noted that between July and October, 4,405 vessels carrying 185 million metric tons passed
Following high-level discussions between the presidents of the United States and China in South Korea on October 30, both nations have agreed to suspend their respective port call fees for a one-year period. As reported by The Loadstar, the Office of the United States Trade Representative (USTR) confirmed a pause on Section 301-related port fees.
A recent report by splash247 highlighted that more than 100 attacks on commercial vessels have been attributed to Houthi forces since late 2023. The tentative ceasefire between Israel and Hamas has brought cautious optimism for the maritime sector. French ocean carrier CMA CGM has scheduled two containerships to transit the Suez Canal on their return
Hurricane Melissa, a Category 5 storm, made direct passage over Western Jamaica, leaving extensive damage in its wake. In a press briefing released through the Jamaica Information Service (JIS) on October 30, Minister of Energy and Telecommunications, Daryl Vaz, stated that over 70% of the country remained without power. A ShippingWatch report published days before the
Following a period of rate declines, recent developments in global ocean shipping suggest a more optimistic outlook for carriers. While uncertainty persists, several indicators point to strengthening conditions across major trade lanes. Container shipping rates on Trans-Pacific Eastbound routes have reversed their downward trend. According to data reported by FreightWaves, the Freightos Baltic Index shows