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Global Container Freight Index, July 2019 – August 2022. In 2021, as a consequence of the COVID-19 pandemic and, later, the ongoing 2022 Russian invasion of Ukraine, global supply chains and shipments slowed, causing worldwide shortages and affecting consumer patterns. Causes of the economic slowdown included workers becoming sick with COVID ...
The global container shipping crisis that has ships piling up at massive West and East coast ports is presenting an opportunity for Toledo and other Great Lakes ports. But local and federal ...
Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December ...
No doubt you’ve heard how the world’s supply chain is being stressed like never before. What we are witnessing is a massive, unprecedented traffic jam of humankind's largest sea vessels that ...
The operation aims to ensure both the freedom of navigation and the safety of maritime traffic in the Red Sea, Bab al-Mandeb and Gulf of Aden. [1] Following the start of the 2023 Israel–Hamas war, multiple civilian container and freight ships were attacked and hijacked in the Gulf of Aden by Houthi forces. [30]
The U.S., along with Maersk security personnel aboard the ship, repelled the attack. The U.S. sank three Houthi vessels, killing ten Houthis. Maersk announced a 48-hour pause on shipping through the Red Sea following the incident. [1] On January 2 Maersk announced a halt on shipping through the Red Sea due to Houthi attacks. [2]
The 2021 holiday shopping season could be marred by out-of-stock goods and shipping delays as flooding in Europe and China exacerbate already strained global supply chains.
The Suez Canal was blocked for six days from 23 to 29 March 2021 by the Ever Given, a container ship that had run aground in the canal. [4]The 400-metre-long (1,300 ft), 224,000-ton, 20,000 TEU vessel was buffeted by strong winds on the morning of 23 March, and ended up wedged across the waterway with its bow and stern stuck on opposite canal banks, blocking all traffic until it could be freed ...