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The process of removing shipping containers from the 984-foot-long Dali has begun, but it is expected to take weeks to complete the job, tow the listing ship, and get the Port of Baltimore reopened for marine traffic after the bride collapse which occurred on March 26.
New data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. Customs data shows a significant increase in raw materials and components from China entering Mexico to be manufactured into fully assembled items that are then transported into the U.S. via rail or by truck.
Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman's Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 ports along the East and Gulf Coasts, on October 1. Between 43%-49% of all U.S. imports and billions of dollars in trade monthly are at stake as the union moves closer to the Oct. 1 deadline for a new contract. Cruise operations would continue.
Trade analysts are warning that new tariffs threatened by former President Donald Trump, which he doubled down on during Tuesday night's presidential debate, will create inflationary pressures in the supply chain and ripple through the broader economy.
Canada's Labor Minister Steven MacKinnon announced at a press conference on Thursday that he had directed the Canada Industrial Relations Board (CIRB) to review his request for binding arbitration and the immediate resumption of rail operations.
The CrowdStrike software bug that crashed Microsoft operating systems and caused the largest IT outage in history caused disruptions at U.S. and global ports, with highly complex air freight systems suffering the heaviest hit, according to logistics experts, as global airlines grounded flights.
The rise of Asian fast fashion retailer Shein already has Amazon on alert, but its plans of selling proprietary supply-chain technology and services to companies around the world has attracted attention from another corner: U.S. cybersecurity firms and national security experts who warn of the potential for a company with close ties to China spying on the supply chain as it seeks to grow its global logistics footprint.
A perfect storm in global trade is creating a shipping container capacity crunch, fueling a sudden and surprise spike in ocean freight rates.
A.P. Moller-Maersk says that based on progress made in the Port of Baltimore collapsed bridge clean-up, it may be able to set a timeline on returning to the port in the next week or so, and resumption of network services at the Baltimore port for the second-largest global ocean carrier could come by the end of this month.