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☆ How shipping containers can make or break the global economy
▼ + stars: | 2024-03-26 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +4 min

The shipping container is a logistics marvel that can affordably move thousands of items from hundreds of different companies all around the globe. Supply chain disruptionsDisruptions to global trade can have major impacts on shortages and inflation, causing serious ramifications for American households and businesses. Indeed, inflation cooled alongside the bounce back of the supply chain, according to a White House analysis of the U.S. economy. [It's] an inefficiency born not of container shipping but just of the nature of the global economy." Watch the video above to learn more about how shipping containers enable global trade, why China dominates the shipping industry and what happens after a container shortage.

Persons: Simon Heaney, John Fossey, Good Hope, John McCown, nonresident, McCown, Goetz Alebrand, " Heaney, Heaney Organizations: Drewry, CNBC, Supply, Federal Reserve Bank of San, Center for Maritime Strategy, Federal Maritime Commission, Americas, DHL Global Locations: Federal Reserve Bank of San Francisco, U.S, Iran, Good, Africa, China, Ukraine, Asia

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ Red Sea crisis: How global trade is being upended by attacks on container ships
▼ + stars: | 2024-02-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

That’s added as much as two weeks to a typical East-to-West journey for container ships, and 18 days for slower bulk carriers and tankers. Global container shipping costs are less than half their level during the coronavirus pandemic, which peaked at $10,380 in September 2021. Even so, he said, container shipping is “very cost-effective” as many goods can be packed into a single shipping container. The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea on November 20, 2023. Fewer oil tankers have avoided the Red Sea than container ships, which the Houthi militants more closely identify with Western countries allied with Israel.

Persons: Richard Meade, Tesla, Peter Sand, Good Hope, That’s, ”, Lloyd —, “, ” Simon MacAdam, ” Maersk, Meade Organizations: London CNN —, Hamas, Lloyds, CNN, Maersk, Hapag, Carriers, Global, Container, Capital Economics, Organisation for Economic Co, Development, Galaxy Leader, Houthi Military Media, Reuters Locations: Iran, Suez, Asia, Europe, Germany, Swedish, Africa, South Africa’s, Good, Sand, Vietnam, Drewry, Shanghai, China, Rotterdam, Netherlands, Xeneta, Israel, United States, Canada

☆ Shipping Costs Soar in Wake of Red Sea Attacks
▼ + stars: | 2024-01-24 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

For shipping companies, costs have already increased. A composite measure of global shipping costs, the Drewry World Container Index, has more than doubled since late last year. The rise is partly tied to a shortage of empty shipping containers, caused by the up to two weeks of additional time for trips going around Africa’s Cape of Good Hope. And using the Red Sea now requires expensive war risk insurance. It’s a specialty that a group of brokers and underwriters centered around London offer.

Persons: Good Hope Organizations: Container, underwriters Locations: Red, Suez, Africa, Drewry, Africa’s, Good, London

BEIJING (AP) — China, the world’s biggest exporter, says it is deeply concerned about tensions in the Red Sea that have upended global trade by forcing many shippers to avoid the Suez Canal. Political Cartoons View All 253 Images“We are deeply concerned about the recent escalation of the Red Sea situation. The Red Sea is an important international trade route for goods and energy,” Wang said. Some of the world’s largest container shipping companies and oil giant BP have been sending vessels on longer journeys around Africa that bypass the Red Sea. In response to the growing impact on global trade, the United States and a host of other nations have created a new force to protect ships.

Persons: Wang Wenbin, ” Wang, Yemen’s, Israel —, Wang, Good Hope, “, ” Organizations: BEIJING, Foreign, Kiel Institute, Washington, U.S, United Nations Security Locations: China, Suez, Iran, Red, Iranian, Asia, Europe, Sanaa, Saudi, Israel, Gaza, United States, Africa, Good, Drewry, Germany, U.S, Iraq, Syria, Red Sea, Saudi Arabia, East, Beijing, Yemen

☆ Premarket stocks: The world is a mess and Wall Street isn’t paying attention
▼ + stars: | 2024-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But geopolitical tensions are growing and Wall Street appears to be underestimating their potential impact on the global economy and markets. The United States and China are squabbling about trade, particularly high-powered AI chips that both believe carry consequences for national security. Less trade could mean lower supplies to meet demand — and that could be bad news for inflation around the world. Bank of America also gave geopolitical risk a top spot on its list of surprises that could affect markets in 2024. It’s the worst start to a year for Chinese stocks since 2016, when investors were ditching their holdings following a market crash in 2015.

Persons: ”, “, Jamie Dimon, dory, he’s, Anna Cooban, Laura He, Hong, Premier Li Qiang, Ken Cheung, Catherine Thorbecke Organizations: New, New York CNN, Dow Jones, Federal Reserve, BlackRock, Shipping, CNBC, Economic, Bank of America, Center for Strategic, International Studies, Apple, Google, Microsoft, Meta, Nvidia, “, Shenzhen Component, Premier, Mizuho Bank, MIT’s Computer, Artificial Intelligence Locations: New York, Russia, Ukraine, United States, China, Taiwan, Suez, Iranian, Pakistan, Iran, Europe, Asia, Drewry, Yemen, Davos, Switzerland, Wall, Shanghai, Shenzhen

☆ These charts show how much traffic has plunged in the Suez and Panama canals — and the potential impact on inflation
▼ + stars: | 2024-01-22 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Read previewThe number of vessels passing through the Suez Canal and Panama Canal have dropped 50% from normal levels, according to Apollo Management's top economist. AdvertisementSuez Canal slowdownAbout 12% of global trade passes through the Suez Canal, according to an estimate from the US Naval Institute. Related stories"Normally, 200 ships travel through the Suez Canal from south to north over a week, but that number has recently declined to 100," Sløk wrote. Suez Canal traffic is down 50% APThe trouble in the Suez Canal has been ratcheting up as Yemen-based Houthi rebels have been launching attacks against ships in the Red Sea, forcing some ships to take longer — and costlier — detours. And although goods inflation has been tumbling, higher shipping costs could send that back up again if they continue to follow recent trends.

Persons: —, Torsten Sløk, Sløk, Thierry Wizman Organizations: Service, Business, US Naval Institute, Apollo, Container, Shipping, Apollo Management, Macquarie Locations: Suez, Panama, Yemen, Red, Shanghai, Rotterdam, Drewry

☆ Inflation isn’t beaten yet and risks of a new price shock are rising
▼ + stars: | 2024-01-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The job is not yet done,” François Villeroy de Galhau, the governor of France’s central bank, said this week in Davos. Those “upside risks to inflation” include supply chain fragmentation, trade protectionism, climate shocks and armed conflicts, according to Gopinath. As soon as central banks start lowering interest rates “people feel better, they start spending more,” she said. Now the bank has to keep interest rates high “for as long as necessary” to put inflation firmly on the path back to 2%, she added. Meanwhile, container shipping costs along many of the world’s busiest trade routes have doubled — and in some cases tripled — since the middle of December, according to data from London-based shipping consultancy Drewry.

Persons: Sergio Ermotti, ”, “ It’s, Galhau, Gita Gopinath, Francois Villeroy de, Stefan Wermuth, Gopinath, Mary Callahan Erdoes, Christine Lagarde, “, Joe Biden, Vincent Clerc, CNN’s Richard Quest, Tobias Meyer, ” Robert North Organizations: London CNN, UBS, Economic, Federal Reserve, International Monetary Fund, Bloomberg, Getty, JPMorgan, Central Bank, IMF, Oxford University, Drewry, Oxford Economics, Maersk, DHL Locations: Iran, Africa, Davos, Switzerland, Red, United States, Europe, United Kingdom, France’s, Israel, Pakistan, British, Yemen, Suez, London, Asia

☆ Indian Navy Rescues Crew After Attack on Ship off Coast of Yemen
▼ + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

The Houthi movement said its missiles had made a "direct hit" on the bulk carrier. U.S. officials said the move was aimed at cutting off funding and weapons the movement has used to attack or hijack ships. On Monday, Houthi forces had struck the U.S.-owned and operated dry bulk ship Gibraltar Eagle with an anti-ship ballistic missile. The alternative shipping route around South Africa's Cape of Good Hope can add 10-14 days to a journey compared to passage via the Red Sea and the Suez Canal. Freight rates have more than doubled since early December, according to maritime consultancy Drewry's world container index, while insurance sources say war risk premiums for shipments through the Red Sea are also rising.

Persons: Krishn Kaushik, Idrees Ali, Phil Stewart NEW, Yemen's, Houthi, Denmark's, Shivam Patel, Simon Lewis, Pavel Polityuk, James Davey, Terje Solsvik, Keith Weir, Catherine Evans Organizations: Indian Navy, U.S, U.S . Navy, Shipping, Genco, Wednesday, Pepco, Denmark's Maersk, Maersk Locations: Phil Stewart NEW DELHI, WASHINGTON, U.S, Gulf, Aden, Genco Picardy, Iran, Asia, Europe, Israel, Palestinian, Gaza, India, Picardy, States, Yemen, South Africa's, Suez, Ukraine, Africa

☆ Premarket stocks: Why Wall Street should worry about retail
▼ + stars: | 2024-01-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Consumer spending accounts for about 70% of America’s gross domestic product, the broadest measure of the US economy, so a recession is nearly impossible as long as consumer spending is growing. Wednesday’s report is expected to be a good one — economists polled by FactSet expect that a strong holiday shopping season boosted consumer spending by 0.4% in December from the month prior. But new data from the New York Federal Reserve on Tuesday has soured the mood on Wall Street. The outlook for consumer spending doesn’t look so bright, either. The trend marked the deepening of a demographic challenge set to have significant implications on the world’s second largest economy, report my colleagues Laura He and Simone McCarthy.

Persons: Alicia Wallace, shutdowns, It’s, Brian Moynihan, ”, CNN’s Richard Quest, they’ve, Bob Iger, Samantha Delouya, Walt Disney, Iger’s, Disney, Laura, Simone McCarthy Organizations: CNN Business, Bell, New York CNN, FactSet, New York Federal Reserve, Consumer, Hamas, Federal Reserve, Bank of America, Economic, Disney, National Bureau of Statistics, Communist, NBS Locations: New York, Suez, Iranian, Asia, Europe, United States, Drewry, Davos, Switzerland, China, Communist China

☆ Some ships in the Red Sea have declared themselves 'all Chinese,' seemingly in hopes of avoiding Houthi attacks
▼ + stars: | 2024-01-15 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Read previewSeveral cargo ships and tankers in the Red Sea have been broadcasting that their crew is fully Chinese, seemingly hoping the affiliation with Beijing will persuade Yemeni rebels not to attack. Business Insider found at least four other vessels in or close to the Red Sea signaling similar messages on Sunday evening. AdvertisementAnother ship, the bulk carrier Dias, which also flies the Liberian flag and primarily traveled to ports in Ukraine and China last year, signaled "CHINA" while sailing near the Red Sea. Still, several vessels in the Red Sea appear to be taking up al-Houthi's suggestion, broadcasting destinations like "NO CONTACT ISRAEL" or "NO ISRAEL INVOLVED." The spate of Houthi attacks has significantly disrupted international trade and introduced surging costs as major transport companies halted shipping lanes through the Red Sea.

Persons: —, it's, Mohammad Ali al, Simon Hearney Organizations: Service, Beijing, Business, Bloomberg, Liberian, Dias, BI, AIS, Ships, GUARD, Human Rights Watch, Drewry, Associated Press Locations: Ukraine, China, CHINA, Gaza, Red, Beijing, Russia, Aden, Gulf, Israel, ISRAEL, Suez, Africa

☆ War and climate change are the main obstacles to aggressive Fed rate cuts in 2024, strategists say
▼ + stars: | 2024-01-14 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

War and climate change are the main risks that could threaten aggressive Fed rate cuts, Macquarie said. That's because conflicts in the Middle East and a parched Panama Canal risk creating supply shocks that stoke inflation. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "War and climate change are becoming the main risk to the view that the Fed cuts aggressively," analysts led by Thierry Wizman wrote in a note on Friday. Such turmoil can end up pinching consumers because the Red Sea is a major shipping artery — the Suez Canal, which connects the Red Sea to the Mediterranean Sea, carries about 12% of global trade.

Persons: Macquarie, Thierry Wizman, Wizman Organizations: Service, Federal Reserve, Fed, Drewry, . Shipping, Maersk, CMA CGA, UK, International Monetary Fund Locations: Panama, Red, Africa, Yemen, Suez

☆ Tesla to pause German production over Red Sea disruption
▼ + stars: | 2024-01-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Tesla plans to pause most production at its only European factory due to supply chain problems caused by attacks in the Red Sea. In recent weeks, Houthi militants, based in Yemen, have ramped up attacks on vessels traveling through the Red Sea, saying they are revenge for Israel’s war against Hamas in Gaza. As a result, six of the world’s 10 biggest shipping companies — namely Maersk, MSC, Hapag-Lloyd, CMA CGM, ZIM and ONE — have been largely or completely avoiding the Red Sea. Volkswagen, Germany’s biggest carmaker, said Friday that its passenger car division did not anticipate “significant” restrictions to production over the situation in the Red Sea, according to Reuters. Economic reverberationsTesla’s decision will amplify fears that a prolonged closure of the Red Sea route — which connects with the vital Suez Canal — will hurt the global economy by snarling supply chains and driving up the prices of goods.

Persons: London CNN — Tesla, Tesla, Joe Biden, Brent, “, ”, Robert Yawger, Matt Egan Organizations: London CNN, CNN, RTL, Maersk, MSC, Lloyd, CMA CGM, Carriers, European Automobile Manufacturers ’ Association, Volvo, Reuters, Volkswagen, Economic, Ikea, Crocs, Container, British, West Texas, Mizuho Securities Locations: Red, Berlin, Europe, Yemen, Gaza, South Africa, Belgium, Suez, British, Drewry, Iran

☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ Layoffs at Maersk hit 10,000 as pandemic shipping boom turns to bust
▼ + stars: | 2023-11-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +1 min

London CNN —Shipping giant Maersk is laying off thousands more workers as weak demand and lower freight prices pummel its revenues — a sign the pandemic-driven boom in shipping is turning to bust. “Our industry is facing a new normal with subdued demand, prices back in line with historical levels and inflationary pressures on our cost base,” Maersk Chief Executive Vincent Clerc said in a statement. The composite cost of shipping a 40-foot container on eight major global routes stood at $1,406 this week, according to London-based Drewry Shipping. Maersk also said it expected its full-year profit to come in at the lower end of its previously stated range of $9.5 billion to $11 billion. The company’s shares sank as much as 12.5% in early trade Friday, extending those losses later to trade down 17.2% by 7.41 a.m.

Persons: ”, Vincent Clerc, Maersk Organizations: London CNN — Shipping, ” Maersk, Drewry Shipping Locations: Danish, London

☆ Container ships are waiting at Asian ports as retailers struggle to shift excess stock
▼ + stars: | 2023-08-25 | by ( Lucy Handley | ) www.cnbc.com time to read: +5 min

As firms making goods from apparel to electronics hold excess stock, there's less of a demand to ship products. This means some vessels are waiting in ports because of sailings being "blanked," or canceled. "We are arranging a contingency plan with alternative services," MSC added. "If you fly to Singapore, you'll see all these ships outside the port … A lot of ships are parked there waiting till there are better yields," he added. Excess stockFlexport, which is at 10th place in CNBC's Disruptor 50 list, regularly surveys customers on how much stock they're holding.

Persons: Andrew Merry, It's, Sanne Manders, there's, Manders, Bernstein, Niels Rasmussen, Rasmussen, it's, Simon Heaney, Heaney Organizations: MSC, CNBC, CMA CGM, Maersk, Baltic and International Maritime Council, Shanghai Shipping Exchange, Blank, Drewry Locations: Singapore Strait, Asia, Europe, —, Singapore, East, North Europe, CNBC's

☆ The 'freight recession' rocks global shipping, fueling a 75% plunge in container rates
▼ + stars: | 2023-07-31 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

An index that tracks global container rates has plunged 75% from a year ago. The downturn has also affected the US trucking business, prompting the Fed to acknowledge the "freight recession". Respondents indicated that there was a freight recession, and it was more difficult to find loads. While global freight trade has declined from its historic highs during the coronavirus pandemic, levels could be returning to their pre-pandemic norms. But for those who attach value to the shipping industry as a barometer of health for the wider US economy, the outlook remains gloomy.

Persons: Aaron P Organizations: Service, Federal Reserve, Drewry, Container, Dallas, Triumph Financial, Trucking, Packaging Corp Locations: Wall, Silicon, America

☆ Meet some of the 'hot rodders' making classic gas-powered cars run on electric motors and batteries — see their coolest conversions
▼ + stars: | 2023-03-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +7 min

"We're seeing that more and more, as the next generation of hot rodders come up, that they do want to do an EV conversion. 1974 BMW 2002 5-Speed electric conversion Bring a TrailerThe proof? Gadget, who was featured in the "Revenge of the Electric Car" documentary, starts by taking batteries out of crashed Teslas. "You'll see electric cars actually beat gasoline cars with the same horsepower out of the gate, but when they're absolutely quiet, you'll lose some people," Drewry said. 1966 VW Bus 21 Window with a Netgain Hyper 9 motor and EV West’s bolt-in “6 pack” Tesla battery EV WestFor Bream, it's actually about prolonging legacy.

That surge in demand and limited supply contributed to higher prices. But diners will likely still pay higher menu prices than they were last year. Dutch Bros. Coffee CEO Joth Ricci told CNBC that most coffee businesses hedge their prices six to 12 months in advance. However, Zandi said, if the job market remains strong, inflation eases and wages grow, Americans can better manage higher prices for airfare and other items. Several hot pandemic items, including TVs, computers, sporting goods and major appliances have dropped in price, according to Labor Department data from December.

☆ Analysis: Some ocean shipping rates collapsing, but real price relief is months away
▼ + stars: | 2023-01-09 | by ( Lisa Baertlein | ) www.reuters.com time to read: +4 min

They're not interested in playing the (spot) market" by shopping for lower rates, shipping expert John McCown said. The chief executive of container shipping company Ocean Network Express, Jeremy Nixon, said in December that short-term spot rates were "bottoming out." Meanwhile, long-term contract rates finished 2022 about 20% lower than the pandemic peak of more than $8,000 per container, according to maritime consultancy Drewry, which expects contract rates to halve in 2023. Several factors could support longer-term contract rates, including upheaval from China's COVID outbreak, war in Ukraine, and high labor costs. Steve Schult, vice president for almond farming cooperative Blue Diamond Growers, bets contract rates will not revisit pre-COVID levels.

☆ Shipping Companies Face More Dangerous Shoals
▼ + stars: | 2022-12-30 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

Container spot rates started to slip early this year and their descent accelerated in the second half. The last two years featured supply-chain disruptions, limited shipping capacity and remarkably high container rates. But 2023 will be rather different—and not in a good way, at least from the perspective of the world’s shipping giants. Container spot rates started to slip in early 2022 and their descent accelerated in the second half of the year. The World Container Index compiled by London-based Drewry Shipping Consultants is down 77% so far this year.

French container line CMA CGM sees the ownership of cargo terminals at U.S. ports as the next step in its bid to extend its shipping business into greater inland logistics. “Port terminals are an essential piece of the supply-chain efficiency, being at the crossroads of sea and land operations,” said Christine Cabau Woehrel, CMA CGM Group’s executive vice president of operations and assets. CMA CGM earned $17.9 billion in net profits in 2021 and its earnings in the first three quarters of this year reached more than $20.4 billion. The purchases come as CMA CGM is spending billions to buy logistics operations and more recently launch an airfreight service. China’s Cosco Shipping Ports has expanded its terminal operations around the world in concert with expansion by state-owned Cosco Shipping Lines.

☆ The Logistics and Supply-Chain Slowdown Has Begun. Here’s How to Take Advantage.
▼ + stars: | 2022-11-27 | by ( Paul Page | C.H. Robinson Worldwide Ceo Bob Biesterfeld | ) www.wsj.com time to read: +6 min

After the pandemic-driven surge in consumer demand that triggered a frenzy of shipping activity and skyrocketing prices, logistics and transportation companies are signaling a fast slowdown. The weekly Shanghai Containerized Freight Index, which measures shipping prices out of China, recently dropped to $1,443.29, about one-third the level it hit in early June. The jaw-dropping declines also measure the spot market prices. Most freight business moves on contract rates, and those long-term prices haven’t fallen nearly as fast as the spot market. Here are some tips for logistics and supply-chain managers to take advantage of a changing market.

☆ Corporate America is bracing for a rise in activist investing. Meet the 13 lawyers on speed-dial when companies and investors fight for boardroom control.
▼ + stars: | 2022-11-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.

☆ The global shipping industry is facing a new problem — too many containers
▼ + stars: | 2022-11-11 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +5 min

Trends in global supply chains continue to flip as container prices fall and container depots fill up, logistics data show. Sasin Tipchai | 500Px | Getty ImagesWhile there was a shortage of containers at the height of the pandemic, the global economy is now facing the opposite problem: too many containers. It points to more signs of falling global demand and an impending economic slowdown. Turning away new clientsItalian container depot owner Sogese chief executive Andrea Monti told Container xChange his depots are full. watch nowMonti told Container xChange that the peak season of goods shipments — as Christmas looms — "technically did not happen this year."

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