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A top Biden cybersecurity official urged the nation's ports in a joint call on Wednesday to have their data encrypted, rapidly patch any vulnerabilities in critical systems, and have a well-trained cyber team as hacks targeting key U.S. infrastructure increase.
The containership MSC Aries seized by Iran over the weekend marked at least the sixth vessel hijacked by Iran and its proxies in response to the Israel-Gaza war, and it's adding to the challenges to longstanding freedom of navigation principles that maritime shipping relies on.
CSX is starting a new dedicated freight rail service between Baltimore and New York for its clients on Tuesday to help mitigate the trade disruption as a result of the closure of the Port of Baltimore after the cargo vessel Dali collided with the Francis Scott Key Bridge leading to its collapse on March 26.
MSC, the largest ocean carrier in the world, has joined the list of ocean carriers terminating the delivery of diverted containers outside of the port for shipping clients as a result of the container ship accident near the Port of Baltimore that led to the tragic bridge collapse. With the Baltimore port indefinitely closed, the decision places the onus of cargo pick up at a diverted port and transport to its final destination on the shipper.
Ocean carriers are declaring "force majeure" due to the Baltimore port bridge crisis, telling logistics companies and U.S. shippers including retailers that once cargo is dropped off at alternate ports, it becomes their responsibility to pick up.
Logistics companies up and down the East Coast were urgently relaying messages back and forth to clients Tuesday on the status of their imports and exports after the Port of Baltimore was shut down in response to the collapse of the city's Francis Scott Key Bridge. A massive rescue effort was underway Tuesday morning.
March and April are critical months for ocean carriers looking to ink annual freight contracts with shippers, including the world's biggest retailers, but this year contract season is turning into a waiting game.