Freight Logistics

Sources and maritime security agencies said that three vessels were struck by unknown 'projectiles' in the Strait of Hormuz on Wednesday. One of the strikes caused a fire to break out?onboard? a ship, forcing the crew of the vessel to leave. Two maritime security sources confirmed that the bulk carrier Mayuree Naree, registered in Thailand, was damaged and targeted approximately 11 nautical mile north of Oman. UKMTO (United Kingdom Maritime Trade Operations) later stated, in reference to the incident, the fire was 'extinguished' and there were no environmental impacts. The necessary crew remained aboard the vessel. Two maritime security sources...

U.S. International Development Finance Corporation announced on Friday that the U.S. would provide reinsurance for losses of up to $20 billion in the Gulf region. This will help oil and gas shipping companies maintain confidence during the war against Iran. The President Donald Trump ordered on Tuesday the DFC to provide financial guarantees and political risk insurance for maritime trade within the Gulf. This was after the transit of?oil tankers and liquefied gas tanks had come to a standstill in the Strait of Hormuz, which is located off Iran. DFC stated that the coverage would be rolled out and initially...

MSC, world's largest ocean container carrier, announced on Tuesday that all cargo bound for Gulf ports will be unloaded at the nearest safe seaport, due to the ongoing hostilities between the United States and Israel. Israeli and U.S. attacks on Iran. MSC, based in Geneva, said that the "End of Voyage Declaration" also applies to containers which have been loaded with cargo but are empty and intended to be exported to ports in the Gulf. MSC announced that a mandatory surcharge $800 per container would be applied to all affected shipments?without exception' to cover deviation costs. The company stated that...

The demand for its customs brokerage services helped Expeditors international of Washington to report a profit and revenue in the fourth quarter that exceeded Wall Street expectations. Customs clearance costs have increased as businesses adjust to new tariff rules and comply with compliance requirements. This has boosted demand for brokerage companies like Expeditors and driven up the cost of customs clearance. The demand for customs brokers remained high, reflecting the complexity of the work and the volume. CEO Daniel Wall added that the company planned to increase investments in technology including AI-driven tools to improve efficiency. Wall said that in...

C.H. Global logistics provider C.H. Robinson's CEO Dave Bozeman has dismissed the'recent sale' of shares tied to AI disruptions in the freight industry. He said that the race to adopt AI technology would lead to consolidation. C.H. C.H. Since the 14.5% drop earlier in this month, the?stock is up a little. In the afternoon of Monday's trading, it was down 6.1% to $178.44. The sale was triggered after Algorhythm Holdings, a company that specializes in AI technology, stated that their SemiCab platform helps customers increase 'freight volume by 300% to 400% without adding additional operational staff. Bozeman, in an interview...

The Port of Los Angeles is the busiest U.S. ocean gateway. Exports fell by 8% in January, to the lowest output monthly in almost three years. Seroka, after the Port of Los Angeles handled 104.297 20-foot equivalent unit (TEU) of loaded export containers in January, said that "exports to China are?dismal". The aggressive tariffs of President Trump have disrupted global trade. Retaliatory trade duty from China and other countries has hit U.S. farmers and exporters particularly hard. Soybean Seroka stated that shipments to China from the Port of Los Angeles dropped by 80% in the past year. He also said...

U.S. Seaports handled 6.8% less "container" import volume in January than they did in the same month last year, when U.S. firms rushed to get goods in to avoid President Donald Trump’s tariffs, sending imports to a monthly record high. Investors closely monitor U.S. imports of containers because they're a?bellwether for the health of the economy, which includes consumer demand as the primary driver in the domestic?economy. The data also shows the ripple effects of Trump’s trade policies from Main Street up to Wall Street. U.S. container exports in January totaled 2,318,722 equivalent 20-foot units (TEUs), exceeding the historic average...

Old Dominion Freight Line announced a decline in profit and revenue for the fourth quarter on Wednesday. It was 'hurt' by lower volumes, as it navigates through a 'challenging environment. After the e-commerce boom of 2022, the U.S. trucking industry remains in a prolonged slowdown. U.S. carriers continue to be affected by low shipment volumes, excess capacities and weak domestic production. According to the Institute for Supply Management, U.S. Manufacturing PMI, which is a gauge for economic activity, recorded its tenth consecutive month of contraction when it reached?47.9 in December. The readings below 50 indicate shrinking activity. CEO Marty Freeman...

Gatik announced on Tuesday that it had secured $600,000,000?in contract revenue and has deployed 'fully driverless trucks' for commercial operations. This highlights the ambitions of the autonomous trucking company to gain a foothold in the market. The heavy regulatory scrutiny surrounding safety has made the commercialization of autonomous vehicles a challenge. However, advances in artificial intelligent have helped many firms improve their technology. Gautam Nang, CEO and founder of Gatik, said: "Today we operate fully driverless trucks across multiple logistic networks and markets. We serve the largest retailers and CPG firms in the country." Gatik's trucks operate nearly?24-hours a day....

J.B. Hunt Transport Services, a U.S. trucking company, reported an increased profit for the fourth quarter on Thursday. This was largely due to a strong shipping demand during peak season and efforts made by all departments to reduce costs. As volumes increase, carriers add seasonal surcharges. The company is pursuing cost reductions in order to increase efficiency. This is because the trucking industry has been experiencing a downturn for'more than three years, marked by excessive capacity and seasonal volume increases, which have kept rates low. The expectation of a U.S. trucking market turnaround in 2026 is gaining momentum. This is...

The U.S. Department of Transportation announced on Wednesday that it is withholding federal funds of $160 million from California for failing to cancel 17,000 commercial driver's licences improperly issued by non-U.S. Citizens. First, the department warned that it would take action in September. USDOT stated that California failed to revoke licenses within the agreed upon deadline of January 5, A spokesperson for California Governor Gavin Newsom declined to comment immediately, but previously stated that the state's commercial drivers license holders "had a deadly crash rate nearly 40 percent lower than the average national." Texas, the only state with more commercial...

Teamsters said that it opposed the merger of U.S. freight railways Union Pacific and?Southern on Wednesday. In a joint press release, union presidents representing 20,000 employees at both railroads stated that they will not support any?deal? that does not protect the lives and livelihoods of workers. Since its announcement, the proposed merger has been criticized by unions and other railroads. It aims to create the first coast-tocoast railroad in America and reduce delays and handoffs. Teamsters claimed that executives from both railroads had failed to protect jobs or address?other concerns. It's time that Union Pacific and Norfolk Southern get serious...

DP World, a port operator based in Dubai, said on Thursday that its 'Jebel Ali Port was fully operational and had 'no damage to infrastructure. However, it warned that the amount of vessel traffic destined for Iran has been reduced because he war is still going strong. The war, which began with the joint U.S.-Israeli air strikes against Iran nearly two weeks ago has caused global chaos in the energy and transportation markets, and effectively closed the Strait of Hormuz – the world’s most important oil artery. The majority of Gulf ports including Dubai's Jebel Al and the primary?ports located...

Israel's military confirmed that a missile fired from Yemen at Israel on Thursday fell in an area open outside Israeli territory. No sirens were activated. This was the third launch of this kind within 24 hours. Yemen's Iran supported Houthis have recently increased attacks and launched missiles in response to Israeli attacks against Yemen. The Houthis launched missiles and drones towards Israel from thousands of kilometers away, calling it an act of solidarity with Palestinians. The majority of missiles or drones that were launched either missed their targets or were intercepted. Israel has responded by bombing areas in Yemen controlled...

The manager of the vessel in Greece that sank earlier this month after it was attacked by Houthi militants near Yemen expressed his relief after watching a video which showed 11 crew members still alive. The Houthis, allied with Iran, released the six-minute video on Monday. They claimed to have rescued seafarers aboard the Eternity C cargo vessel flying the Liberian flag. The Athens based ship management company issued a statement saying that efforts are being made to ensure "safe and rapid return of the sailors to their families". The company said that it was "deeply relieved" to see the...

Houthis, who are Iran-aligned and live in Yemen, said on Monday that they had rescued ten seafarers off the Greek cargo ship EternityC which they had attacked and sunk earlier this month in the Red Sea. Eternity C, flying the Liberian flag, was the second vessel to sink in Yemen this month following repeated attacks from Houthi militants using sea drones and rocket propelled grenades. The Magic Seas was another Greek-operated ship that had been lost days before. The Houthis have been resuming their attacks on ships, having hit over 100 vessels between November 2023 to December 2024 as a...

The operator of the Greek bulk carrier said that the 19-member crew, which was severely damaged by repeated attacks in the Red Sea, likely carried out by Houthi militants are safe. They will arrive at Djibouti on Monday evening. Michael Bodouroglou said that the fate of the Liberian Magic Seas, which is flying the Liberian flag, was uncertain. The vessel could sink, according to Bodouroglou. The first incident of this kind to be reported since mid-April was Sunday's attack off the southwest coast Yemen. The Magic Seas was targeted by gunfire, rocket-propelled missiles, and skiffs for more than four hour....

TMS Tankers, the Greek operator of the tanker, said that an external explosive device was most likely responsible for the explosion which damaged the Greek oil tanker Vilamoura last week as it was sailing near the coast of Libya. This conclusion is based on a preliminary investigation. On June 27, the Marshall Islands flagged tanker Vilamoura was leaving the Libyan port Zuetina to head to Gibraltar, with around 1 million barrels oil. An explosion occurred in the engine room. TMS Tankers stated that preliminary investigation findings indicate clearly that the explosion and subsequent fracture of side shell plating as well...

An attack on a ship in the Red Sea, off the coast of Yemen's southwest coast, was launched by eight small boats using gunfire and grenades. A British maritime agency and a security firm confirmed the incident. The situation continues, according to the United Kingdom Maritime Trade Operations and British maritime security company Ambrey. The attack was not immediately attributed to anyone. This is the first report on the region by the agencies since the middle of April. The tensions in the Middle East are still high due to the conflict in Gaza, the 12-day Israel/Iran war that lasted for...

Ambrey, a British maritime security company, reported on Tuesday the paramilitary Rapid Support Forces had launched a drone strike on Port Sudan facilities. The attack targeted the container terminal escalating the two-year conflict. Ambrey claimed to have obtained video footage of damage done to the terminal, as well as the civilian infrastructure. The city is now reported to be without electricity. Ambrey reported significant GPS disruptions, but no damage was reported to merchant vessels. Witnesses reported that explosions and fires erupted in Port Sudan, Sudan's wartime capital and main port city, on Tuesday. This was part of an ongoing drone...

State media reported that a large explosion struck Shahid Rajaee Port in southern Iranian city Bandar Abbas, causing at least 47 injuries. The explosion occurred just as Iran was about to begin a third round nuclear talks with United States in Oman. However, the cause of this explosion wasn't immediately known. The explosion of containers in the Shahid Rajaee Port wharf caused this incident. "We are currently evacuating the injured and transferring them to medical centers," said a local crisis-management official on state television. Initial estimates by Fars News Agency indicate that 47 people have been injured. The semi-official Tasnim...

The Santos Port Authority in Brazil, which manages the largest southern hemisphere port, has said that the port's draft will be deepened in order to attract larger ships in coming years. Beto Mendes (director of port operations) said that the goal is to increase the draft from 16 to 17 meters by 2031. Attracting larger ships would allow Brazil's commercial ties to be strengthened with partners like China, who is currently in a trade conflict with the United States. Mendes stated during a presentation that "we need to be ready." Santos will see an increase in shipping volumes as a...

DP World, a Dubai owned ports and logistics firm, reported a 28 percent fall in its annual profit on Friday, partly because of higher finance costs. It also highlighted global trade uncertainty and geopolitical risk as clouding the outlook. DP World announced that the profit attributable by owners after accounting for items separately dropped from $820 to $591 millions a year ago. In a statement, Chairman and CEO Sultan Ahmed bin Sulayem stated that "while the year started on a good note, global trade is still in flux because of ongoing geopolitical issues." DP World's revenue rose by 9.7%, to...

The United Kingdom Maritime Trade Operations reported on Friday that vessels in the northern Gulf received multiple VHF challenges, including requests to change course. They could be part an Iranian military exercise. The UKMTO which monitors maritime security in the area has warned seafarers to be aware that similar VHF hailing may occur during an exercise of the Islamic Revolutionary Guard Corps near Iranian waters. The semi-official Fars News Agency reported that naval units of the Revolutionary Guards conducted operations in the Gulf Strait of Hormuz Friday as part of an exercise called Great Prophet 19. The UKMTO had earlier...