ATHENS—Police in northern Greece have seized dozens of packages of cocaine stashed in containers laden with bananas that had been shipped from Latin America, they said on Saturday. Police seized two suspect containers at the port of Piraeus and, after taking them to the port of Thessaloniki, found 100 “bricks” of concealed cocaine, weighing 161…
China Container Freight Index Plunges for Five Consecutive Months Due to Weak Exports
February 21, 2023
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The China Container Freight Index (CCFI) reportedly continued to fall in January after plummeting in the previous four months, indicating an overall decline in international freight rates at Chinese ports, a gloomy export trade, and a crisis in which Chinese foreign trade companies are facing business headwinds or even bankruptcy due to reduced orders. On…
Biden’s Economy Is Killing the Trucking Industry
Commentary During the pandemic, freight prices skyrocketed, as did consumer demand, attracting thousands of new companies into the trucking industry. Now, a general economic downturn is dampening consumer demand while the cost of operations is higher. This is forcing carriers out of business. Experts believe we are heading into a trucking market crash caused by…
Shipping Container Suppliers Abandon $987 Million Deal After US Probe
WASHINGTON —Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges. China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller —Maersk’s refrigerated containers maker for $987.3 million. The…
Stuck Container Ship in Chesapeake Bay Finally Refloated
BALTIMORE—A container ship the length of more than three football fields has finally been pried from the muddy bottom of the Chesapeake Bay more than a month after it ran aground. After two unsuccessful attempts to dislodge it, and the subsequent removal of roughly 500 of the 5,000 containers it was carrying, the Ever Forward…
Carriers Must Move Thousands of Containers Out of Los Angeles Area by End of Halloween
Shipping companies must move thousands of containers out of the ports of Los Angeles and Long Beach starting Nov. 1, according to port officials, or they’ll begin to start facing hefty fines. The Long Beach Board of Harbor Commissioners on Oct. 29 announced a fee on carriers who have containers linger on the docks, and the Port of…
Carriers Must Move Thousands of Containers Out of Los Angeles Area by End of Halloween: Officials
Shipping companies must move thousands of containers out of the ports of Los Angeles and Long Beach starting Nov. 1, according to port officials, or they’ll begin to start facing hefty fines. The Long Beach Board of Harbor Commissioners on Oct. 29 announced a fee on carriers who have containers linger on the docks, and the Port of…
Carriers Must Move Thousands Containers out of Los Angeles Area by End of Halloween
Shipping companies must move thousands of containers out of the ports of Los Angeles and Long Beach starting Nov. 1, according to port officials, or they’ll begin to start facing hefty fines. The Long Beach Board of Harbor Commissioners on Oct. 29 announced a fee on carriers who have containers linger on the docks, and the Port of…
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