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☆ Shipping giant Maersk says Baltimore port reentry decision is near as collapsed bridge cleanup progresses
▼ + stars: | 2024-05-07 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The remains of the Key Bridge in the Patapsco River entrance to Baltimore Harbor on May 2, 2024, in Baltimore, Maryland. Van der Steene says the Maersk team has seen less than 200 containers taken off the Dali over the last nine days. But based on North American freight orders from Asia, Van der Steene described 2024 as a "year of reinvigoration." Peak shipping season, which starts in June and continues through the summer for the back to school shopping and then the holidays, is expected to be normal in volume, Van der Steene said. "There's nothing that indicates that it would be a slower peak season or a bigger peak season," said Van der Steene.

Persons: Moller, Charles Van der Steene, Brendan Smialowski, Dali, Francis Scott Key, Van der Steene, Maersk, Kevin Dietsch, Van de Steene, Vincent Clerc, Good Hope, Chip Somodevilla, Van der Organizations: Maersk, Port, Unified Command, CNBC, Afp, Getty, Dali, Salvage, Francis Scott Key Bridge, North, Shipping, Imports, U.S Locations: Port of Baltimore, Baltimore, Maersk North America, Patapsco, Baltimore Harbor, Baltimore , Maryland, Port, Norfolk, Newark, Good, North America, Panama, Asia, U.S, Europe, Vietnam, China, Mexico, United States

☆ Panama elections: Mulino declared ‘unofficial’ winner of presidential election
▼ + stars: | 2024-05-06 | by ( Juan Carlos Paz | Mia Alberti | ) edition.cnn.com time to read: +3 min

CNN —José Raúl Mulino, a rightwing former public security minister, was declared the “unofficial” winner of Panama’s presidential election on Sunday, the country’s electoral court confirmed. “I receive with joy these results, which are the will of the majority of the Panamanian people in our democracy, which I assume with great responsibility and humility as a Panamanian,” Mulino said during his victory speech. He originally ran as the vice-presidential candidate of former President Ricardo Martinelli. After a court sentenced Martinelli to 11 years in prison for money laundering, Mulino moved to the top of the ticket. “To Ricardo Martinelli: my friend, mission accomplished Ricardo.

Persons: Mulino, Ricardo Lombana, ” Mulino, Ricardo Martinelli, Martinelli, “, Ricardo, ”, Matias Delacroix, Fitch, Panama that’s, El Nino Organizations: CNN, Central Locations: Central American, Panamanian, Nicaraguan, Panama’s, Panama City, Panama, Venezuela, Colombia

☆ Global trade and immigration on the line in Panama’s presidential vote
▼ + stars: | 2024-05-03 | by ( David Shortell | ) edition.cnn.com time to read: +5 min

Achieving Goals presidential candidate José Raúl Mulino speaks with reporters after meeting with members of the Electoral Observation Mission, in Panama City, Wednesday, May 1, 2024. The case of former President Ricardo Martinelli, who was disqualified from running by the courts because of a past corruption conviction, stands out. Once the favorite to win this year’s presidential race, Martinelli was disqualified from running by Panama’s electoral court in March because of the conviction and sentence. There are seven other presidential candidates, including current Vice-President José Gabriel Carrizo, former President Martín Torrijos, and Rómulo Roux, another former minister under Martinelli. Martinelli has thrown his support behind Mulino, even releasing campaign videos from inside the Nicaraguan embassy.

Persons: Daniel Zovatto, El Nino, Fitch, ”, José Raúl, José Raúl Mulino, Matias Delacroix, Mulino, Panama that’s, Ricardo Martinelli, Martinelli, José Gabriel Carrizo, Martín Torrijos, Rómulo Roux, “ Organizations: CNN, Central, Latin America, Wilson, Americas Society, Panamanian, Gallup, Nicaraguan Locations: Panama, Central American, Panama City, United States, Venezuela, Panamanian, Colombia, Mulino, Americas, Nicaragua’s, Nicaraguan

☆ Drought That Snarled Panama Canal Was Linked to El Niño, Study Finds
▼ + stars: | 2024-05-01 | by ( Raymond Zhong | ) www.nytimes.com time to read: +1 min

The recent drought in the Panama Canal was driven not by global warming but by below-normal rainfall linked to the natural climate cycle El Niño, an international team of scientists has concluded. Low reservoir levels have slowed cargo traffic in the canal for most of the past year. Without enough water to raise and lower ships, officials last summer had to slash the number of vessels they allowed through, creating expensive headaches for shipping companies worldwide. The area’s water worries could still deepen in the coming decades, the researchers said in their analysis of the drought. That means future El Niño years could bring even wider disruptions, not just to global shipping, but also to water supplies for local residents.

Persons: El Locations: Panama

The most decorated battleship in the history of the United States is done with war. The engines of the vessel, the Battleship New Jersey, are no longer permitted to operate, by order of the U.S. Navy. But on a windy afternoon in March, tugboats pushed and pulled the ship away from land for the first time in more than 20 years. “You’ll get me crying,” Ms. Smith, 87, said, describing the emotions she felt as a mammoth American flag was hoisted aloft during the shifting of colors before the Battleship New Jersey left the dock on March 21. Ms. Smith, a writer who lives in New Jersey, was on hand in 1999, too, when the ship made its way through the Panama Canal, headed toward its new career as a museum and memorial.

Persons: Muriel Smith, “ You’ll, ” Ms, Smith Organizations: Battleship, U.S . Navy Locations: United States, Jersey, Camden , N.J, Philadelphia, New Jersey, Panama

☆ Panama Canal curbed transits to meet challenges of demand, says waterway administrator
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPanama Canal curbed transits to meet challenges of demand, says waterway administratorRicaurte Vásquez Morales, administrator of the Panama Canal Authority, comments on how a downturn in falling rainfall trends is affecting one of the most important waterways in the world.

Persons: Ricaurte Vásquez Morales Organizations: Panama Canal Authority Locations: Panama

☆ I made $40,000 a month from 3 income streams during a 4-month cruise around the world—here's how
▼ + stars: | 2024-04-22 | by ( Michelle Schroeder-Gardner | ) www.cnbc.com time to read: +3 min

Today, I earn $40,000 per month in semi-passive income from it, through three different streams: affiliate marketing, sponsored partnerships and online courses. Here's what those days looked like, and how I built my income streams to be nearly entirely passive. I answered emails, wrote blog posts, brainstormed new ideas, handed accounting, addressed anything urgent that needed my attention and strategized new ways to grow Making Sense of Cents. I built many of my blog posts around affiliate marketing, a strategy that's responsible for about half of my blog's revenue. Sponsored partnerships are more active income, so I didn't do many of them during the cruise.

Persons: It's Organizations: Santa Cruz de La, Jobs, Facebook Locations: Santa Cruz de, Santa Cruz de La Palma, Spain, Florida, Panama, Polynesia, New Zealand, Asia

☆ My 12-day cruise cost me about $109 a day. See inside my 160-square-foot cabin, the most economical option on the ship.
▼ + stars: | 2024-04-22 | by ( Lauren Mack | ) www.businessinsider.com time to read: +1 min

I went on a 12-day Holland America Line cruise and paid a little over $1,300 for my interior cabin. I'd book this room again — my cruise was so fun and busy that I barely spent time in it anyway. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I definitely had value in mind when I booked my recent 12-day cruise on the Holland America Line Rotterdam from Ft. Lauderdale, Florida, to the Panama Canal. I booked directly with Holland America Line and paid $849 plus $460 for taxes, fees, and port charges — about $109 a day.

Persons: — Organizations: Service, Holland America Line Locations: Holland, Holland America Line Rotterdam, Ft . Lauderdale , Florida, Panama

☆ A boomer who moved to Panama after years as a bartender in the Hamptons and New Mexico outlines the pros and cons of living in Central America
▼ + stars: | 2024-04-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

George Stumpp, a retired bartender, lives comfortably in Panama after moving from New Mexico. He said Panama has robust infrastructure, a lower cost of living, and many of the same stores as the US. AdvertisementGeorge Stumpp, 65, worked as a bartender and bar supervisor in Long Island and New Mexico for decades. He's enjoying retirement in a country with a lower cost of living and high-quality healthcare, and he said he's enjoyed adapting to Panamanian culture. As his kids got older, he started to vacation in Central America, traveling to Costa Rica, Belize, and Panama.

Persons: George Stumpp, —, he's, we've, Stumpp, it's, Long, there's Organizations: Service, Panama City, Central, Business, Hamptons, Sante Locations: Panama, New Mexico, Long Island, Panamanian, Colombia, Thailand, St, Maarten, Long, Sante Fe, Santa Fe, Central America, Costa Rica, Belize, Ontario, Canada

☆ Imports from China to the US are rising at the highest rate since last fall
▼ + stars: | 2024-04-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The first half of 2024 is expected to total 11.7 million TEUs (twenty-foot equivalent units), an increase of 11% from the same period last year. In 2023, imports were down from 2022 by almost 13%, totaling 22.3 million TEUs. By comparison, New York/New Jersey processed 7.81 million TEUs, Georgia 5.4 million TEUs, Virginia at 3.3 million TEUs, Charleston 2.5 million TEUs, Jacksonville 1.3 million TEUs, and Miami 1.25 million TEUs. The other reason for the recent container push is fears of a labor strike at East Coast and Gulf ports.

Persons: John Gold, Francis Scott Key, Jason Hilsenbeck, Drayage.com, Paul Brashier, Brashier Organizations: Future Publishing, Getty, Global, National Retail Federation, Hackett Associates, Francis Scott Key Bridge, Miami, ITS Logistics, CNBC, Baltimore, West Coast, U.S ., Port / Railroad, Longshoremen's Association, United States Maritime Alliance Locations: Taicang, Jiangsu province, China, U.S, Panama, Port of Baltimore, East Coast, New York, New Jersey, Georgia, Virginia, Charleston, Jacksonville, Port of Virginia, Norfolk, Baltimore, NY, NJ, Norfolk and New York, West, West Coast North, U.S . East Coast, West Coast, Los Angeles, Long Beach, Long, Gulf, East

☆ The Economic Paradox of the Biden Presidency
▼ + stars: | 2024-04-06 | by ( Bernhard Warner | ) www.nytimes.com time to read: +1 min

The paradox is that there is no guarantee that the jobs boom will keep Biden in the White House beyond November, completely scrambling the adage “It’s the economy, stupid” that wins elections. For 39 straight months, employers have added jobs despite many predictions that the United States was destined for a recession. The latest data released Friday overshot analysts’ expectations by a huge margin, with employers adding 303,000 jobs. That takes the tally over the past 12 months to more than 2.8 million hires — and economists expect the upward course to continue. “We do think there’s still room for growth” into next year, Jeremy Schwartz, a senior U.S. economist at Nomura, told DealBook.

Persons: Biden, Port, —, Jeremy Schwartz, DealBook Organizations: Labor, Nomura Locations: U.S, White, United States, Ukraine, Gaza, Panama, Red Sea, Port of Baltimore

☆ How Maersk grew its shipping empire and how it’s evolving
▼ + stars: | 2024-03-30 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Each year about 90% of world trade is transported by ship, according to the World Economic Forum. With its fleet of over 670 vessels, Maersk , one of the world's largest shipping companies, transports about one in five of those containers. The company logged record profits in 2022 due in part to pandemic-induced buying and higher freight rates. It also chartered the vessel that crashed into the Francis Scott Key Bridge in Baltimore earlier this week. CNBC examines the issues facing Maersk, and its rivals Hapag-Lloyd and MSC, and looks at how the company is trying to transition for future growth.

Persons: Francis Scott Key Organizations: Economic, International Longshoremen's Association, CNBC, Maersk, Hapag, Lloyd, MSC Locations: Panama, North America, Baltimore

☆ The Baltimore bridge disaster is just the latest knock to global shipping and trade
▼ + stars: | 2024-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Over the past few years, supply chain woes have repeatedly come into the spotlight. Since then, global integrated supply chain systems just seem to keep getting disrupted — be it by the COVID-19 pandemic or Russia's war in Ukraine. The domino effect is due to the "just in time" model that supply chains have been relying on for decades. Here are three key reasons why supply chains just seem to keep screwing up in recent years. Examining ongoing conflicts in the Black Sea and Red Sea respectively shows how geopolitical conflicts affect global supply chains.

Persons: —, they've, Donald Trump, Dali, Francis Scott Key, Project44, Nari Viswanathan, Viswanathan, tailspin, Julie Gerdeman, Trump, Rahul Khanna, Geoff Weiss, Allan Post, Justus Heinrich, Khanna Organizations: Service, Business, Maersk, BI, Shipping, Allianz, Allianz Commercial, Technologies Locations: China, Ukraine, Baltimore, The Port, of Baltimore, Europe, Asia, Iran, Israel, Suez, Good, Africa, Panama, El, Egypt

☆ The Dali Is a Big Ship. But Not the Biggest.
▼ + stars: | 2024-03-28 | by ( Ella Koeze | ) www.nytimes.com time to read: +4 min

Empire State Building Approximate width 1,454 feet long MSC Irina Biggest container ship in the world 200 feet wide 24,346 containers 1,312 feet Ever Max Biggest container ship to sail into Baltimore 167 feet 15,432 containers 1,201 feet Eiffel Tower 410 feet 1,083 feet Dali 157 feet 9,971 containers 984 feet Container ship of the 1970s ~2,500 containers 66 feet 705 feet Football field Shapes are approximate. 160 feet 360 feet Empire State Building Approximate width 1,454 feet long MSC Irina Biggest container ship in the world 24,346 containers 200 feet wide 1,312 feet Ever Max Biggest container ship to sail in the Port of Baltimore 15,432 containers 167 feet 1,201 feet Eiffel Tower 410 feet 1,083 feet Dali 157 feet 9,971 containers 984 feet Container ship of the 1970s ~2,500 containers 66 feet 705 feet Football field Shapes are approximate. 160 feet 360 feet 1,454 ft. 1,312 ft. 1,201 ft. 1,083 ft. 984 ft. 24,346 containers 705 ft. 15,432 containers 9,971 containers ~2,500 containers 360 ft. 66 ft. 200 ft. 167 ft. 410 ft. 157 ft. 160 ft. Approximate width Empire State Building MSC Irina Biggest container ship in the world Ever Max Biggest container ship to sail into Baltimore Eiffel Tower Dali Container ship of the 1970s Football field Sources: “The Geography of Transport Systems,” by Jean-Paul Rodrigue; VesselFinder; the Empire State Building; the Eiffel Tower; ShipHub; Maryland Port Administration Note: Widths shown are for the widest point for each ship.

Persons: Dali, Jean, Paul Rodrigue, Francis Scott Key, Theo Notteboom, Athanasios Pallis, ”, Rodrigue, “ Organizations: ., Eiffel, Transport Systems, Empire, Francis Scott Key Bridge, Container, Port Economics, Management, Eastern Seaboard, Texas, M University, Galveston, Baltimore . Locations: Baltimore, Port, ShipHub, Maryland, Panama, Eastern U.S, Suez

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed on Tuesday. After the 1980 collision, he argued, more substantial dolphins or a fendering system should have been added to the Key Bridge. “You knock out one of the support posts, the entire bridge collapses.”The Key Bridge is hardly unique among large bridges in its age. Some other bridges that cross major shipping routes are designed with more extensive protections than the Key Bridge’s. In the wake of the Key Bridge collapse and with the rise of larger container ships, some experts said that engineers should reassess necessary bridge safety features.

Persons: Baltimore’s Francis Scott Key, It’s, Dali, Francis Scott Key, Jim Watson, ”, Rick Geddes, Wes Moore, That’s, Jean, Paul Rodrigue, Martin Bernetti, “, Mark Wilson, Hussam Mahmoud, Rod Sullivan, Arthur Ravenel Jr, Savannah’s Talmadge, Los Angeles ’ Vincent Thomas Bridge, ” Geddes, Barzin Mobasher, Mobasher, ” CNN’s Daniel Medina, Majlie, Puy, Yahya Abou, Ghazala Organizations: CNN, Getty, Cornell University’s Program, National Research, Evening Sun, Coast Guard, Sun, Maryland Gov, Texas, M University, Galveston, National Research Council, Maryland Transportation Authority, Francis Scott Key Bridge, Colorado State University, Sunshine Skyway, Tampa Tribune, New, Bridge, Arizona State University Locations: Bridges, Baltimore, AFP, Nagoya, Dali, Panama, United States, Panama City, Baltimore , Maryland, Tampa, Florida, Charleston , South Carolina, Los Angeles

☆ Another Wayward Container Ship Shows World Trade’s Fragility
▼ + stars: | 2024-03-27 | by ( Peter S. Goodman | ) www.nytimes.com time to read: +1 min

Between swirling geopolitical winds, the variables of climate change and continued disruptions resulting from the pandemic, the risks of depending on ships to carry goods around the planet were already conspicuous. The pitfalls of relying on factories across oceans to supply everyday items like clothing and critical wares like medical devices were at once vivid and unrelenting. Off Yemen, Houthi rebels have been firing missiles at container ships in what they say is a show of solidarity with Palestinians in the Gaza Strip. In Central America, a dearth of rainfall, linked to climate change, has limited passage through the Panama Canal. That has impeded a crucial link between the Atlantic and the Pacific, delaying shipments to the East Coast of the United States from Asia.

Organizations: Atlantic, Pacific Locations: Baltimore, Patapsco, American, Yemen, Gaza, Suez, Asia, Europe, Africa, Central America, Panama, East Coast, United States

☆ Baltimore bridge collapse poses little threat to U.S. economic growth, experts say
▼ + stars: | 2024-03-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Auto companies like BMW and Volkswagen will likely be hit hardest at first, he added, given their heavy reliance on the Baltimore port. Regional economyFor the city of Baltimore, though, the economic impacts of the bridge collapse will hit harder and last longer. The Baltimore port directly employs over 15,000 workers and indirectly supports nearly 140,000 jobs via other port activities, according to Maryland Gov. Baltimore port employees could be temporarily furloughed, or see disruption in their work hours amid the shutdown. "The bridge collapse is the latest challenge for Northeast U.S. supply chains," said S&P Global Head of Supply Chain Research Chris Rogers.

Persons: Francis Scott Key, Roberto Schmidt, Baltimore's Francis Scott Key, Joseph Brusuelas, DALI, Joe Biden, Brusuelas, Mark Zandi, Wes Moore, Zandi, Research Chris Rogers, It's, we've Organizations: AFP, Getty, RSM, Auto, BMW, Volkswagen, Depot, IKEA, shipper FedEx, CNBC, Maryland Gov, Afp, Northeast, Supply, Research, Others Locations: Baltimore , Maryland, Singapore, Baltimore, of Baltimore, Port, United States, of LA, Northeast U.S, Sea, Panama

☆ ‘A Lot of Chaos’: Bridge Collapse Creates Upheaval at Largest U.S. Port for Car Trade
▼ + stars: | 2024-03-26 | by ( Peter Eavis | Jenny Gross | ) www.nytimes.com time to read: +1 min

The Baltimore bridge disaster on Tuesday upended operations at one of the nation’s busiest ports, with disruptions likely to be felt for weeks by companies shipping goods in and out of the country — and possibly by consumers as well. The upheaval will be especially notable for auto makers and coal producers for whom Baltimore has become one of the most vital shipping destinations in the United States. “It’s going to cause a lot of chaos,” said Paul Brashier, vice president for drayage and intermodal at ITS Logistics. Last year, 570,000 vehicles were imported through Baltimore, according to Sina Golara, an assistant professor of supply chain management at Georgia State University. “That’s a huge amount,” he said, equivalent to nearly a quarter of the current inventory of new cars in the United States.

Persons: Francis Scott Key, It’s, ”, Paul Brashier, Sina Golara, “ Organizations: Baltimore, Baltimore . Ships, ITS Logistics, Georgia State University Locations: Baltimore, United States, Port of Baltimore, Panama, Suez, Red

☆ '3 Body Problem' episode 5 has a violent sequence that's almost gory enough to live up to 'Game of Thrones' on its own
▼ + stars: | 2024-03-26 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +5 min

Read preview"3 Body Problem" isn't as prone to killing people (or showing them nude) as "Game of Thrones" — but that doesn't mean it doesn't get its punches in. AdvertisementWhat happens in episode 5 of '3 Body Problem?' Advertisement'The most violent, horrific thing'The Judgment Day sequence, which is drawn from Liu's original book, is a masterclass in suspense. This kid definitely dies in "3 Body Problem," but luckily, we don't have to see it. NetflixFor an alien race that has previously operated in the shadows, the act matches the stark violence of the Judgment Day shutdown.

Persons: —, David Benioff, Weiss, Alexander Woo, Liu Cixin's, Minkie Spiro, Wade, Liam Cunningham, Clarence Shi, Benedict Wong, Raj Varma, Mike Evans, Jonathan Pryce, Auggie, isn't, Woo, Evans, Spiro, Pedro Pascal Organizations: Service, Business, intel, Netflix Locations: Panama, puzzlement

☆ A trucking and rail strategy that boomed during pandemic shocks is heating up again
▼ + stars: | 2024-03-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

The shift in the volume of freight being moved from the East Coast to the West Coast was first highlighted in February in the ITS Port Rail Ramp Freight Index. He said the disruptions from the Suez Canal and Panama Canal have contributed to an almost 20% increase into the West Coast ports. "For our ports, transloading containers is always going to happen and we have the capacity to do more." The West Coast container volume rebound will also have a ceiling. "We probably don't get to the historical 10-year levels of West Coast market share versus East Coast share," Chan said.

Persons: Michael Aldwell, Kuehne + Nagel, Chris Sikora, CH Robinson, Sikora, Tim Robertson, transloading, Paul Brashier, We're, Brashier, Bryan Kempisty, Matt Schrap, Bruce Chan, Chan, CH, Bascome Majors, J.B, Hunt, Schneider, JB Hunt, Jason Seidl, Knight, Swift, Seidl, Larry Organizations: Getty, U.S, Logistics, CNBC, Kuehne, Transportation Intelligence, . Logistics, DHL Global, ITS, Rail, ITS Logistics, Department of Transportation's, PortX Logistics, Harbor Trucking, J.B, Susquehanna International Group, Hub Group, Schneider, Union Pacific, Cowen Group, Universal Logistics Holdings, East, International Longshoremen's Association, Surface Transportation, Canadian Pacific, Kansas City Southern, Uber, Uber Technologies Locations: West Coast, East Coast, Panama, East, Red, Gulf, transload, transloading, West, Suez, Hunt, CH Robinson, Sea, Mexico, Kansas, Mobile , Alabama, Coatzacoalcos, Veracruz, Gulf of Mexico

☆ International Elections 2024: What You Need to Know
▼ + stars: | 2024-03-21 | by ( The New York Times | ) www.nytimes.com time to read: +4 min

International Elections 2024: What You Need to KnowRussia U.K. United States E.U. Mexico India Indonesia 900M South Africa 90M Voting-age population Russia U.K. United States E.U. Mexico India Indonesia 900M 90M South Africa Voting-age population Russia U.K. United States E.U. Upcoming Elections India Prime Minister Narendra Modi, a divisive figure who has aggravated the religious and ethnic fault lines in the hugely diverse country, is seeking a third term. United States A rematch between President Biden and former President Donald J. Trump adds another layer of uncertainty to the global political landscape.

Persons: Narendra Modi, Mahamat Idriss Déby Itno, Paul Kagame, Biden, Donald J, Trump Organizations: United, Africa, Russia U.K, India, National Congress, European, Party, Lithuanian Christian Democrats, Conservative Party, Labour Party Locations: Russia, United States, Mexico India Indonesia, Mexico, India, South Africa, Venezuela, Sudan, Panama, Chad, Europe, Rwanda, Austria, Lithuania, Sri Lanka

☆ Genco CEO discusses conditions in the Panama Canal and the Black Sea
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGenco CEO discusses conditions in the Panama Canal and the Black SeaGenco Shipping CEO John Wobensmith outlines how climate events and geopolitical headwinds, such as the restriction of the Panama Canal and reduced grain exports from Ukraine, are affecting the shipping industry.

Persons: John Wobensmith Organizations: Genco Shipping Locations: Panama, Ukraine

☆ CEO of Hapag-Lloyd, one of world's top ocean shippers, says the outlook has changed for global economy, trade demand
▼ + stars: | 2024-03-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

We saw them coming up a bit towards the end of the quarter, and then of course, the Red Sea crisis ... which again changed the market." Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth-largest ocean carrier, tells CNBC he has an improved view on trade for the rest of 2024. "It's a concerning situation and I think the [Red Sea] outlook is very difficult," Jansen said. In addition to the added costs, according to Sea-Intelligence, the Red Sea diversions could increase carbon dioxide emissions by 260%–354%. New ocean alliance with MaerskThe reduction in global freight and schedule reliability are headwinds ocean carriers have been facing for months.

Persons: Lloyd, Jansen, Rolf Habben Jansen, Hapag Lloyd, Hansen, it's, Lars Østergaard Nielsen, Nielsen, " Hansen Organizations: CNBC, Intelligence, EU, Trading, Maersk, Hapag, Gemini, Sea, MSC Locations: U.S, Asia, West Coast, East Coast, Gulf Coast, Red, Aden, Yemen, Africa, Europe, Suez, Panama, California

☆ 34-year-old mom dropped $50,000 to cruise the world with her family: 'It was some of the best money I ever spent'
▼ + stars: | 2024-03-08 | by ( Michelle Schroeder-Gardner | ) www.cnbc.com time to read: +5 min

Last year, I paid $50,000 to go on a four-month cruise that took my family and me to 30 countries. I see the money spent as an investment — not just in travel, but in a collection of memories that we will treasure forever. "Our room for four months months on the cruise, with our balcony view." Photo: Michelle Schroeder-GardnerI bonded with my family in a unique wayAfter our daughter was born, the idea of a world cruise piqued our interest. For example, when we lived on our sailboat, we spent six months in the Bahamas every year.

Persons: Michelle Schroeder, Gardner, Sultan, We're Organizations: Santa Cruz de La Locations: Cartagena , Colombia, Florida, Moorea, French Polynesia, Panama, Polynesia, New Zealand, Asia, Bahamas, Sultan Qaboos, Oman, Australia, Thailand, Turkey, Montenegro, Spain, Mexico, Canary, Santa Cruz de, Santa Cruz de La Palma

☆ The Panama Canal Redrew the World’s Map. A Novel Explores the Lives It Changed.
▼ + stars: | 2024-03-05 | by ( Celia Mcgee | ) www.nytimes.com time to read: +1 min

As far back as Cristina Henríquez can remember, there has always been the Panama Canal. She visited it every summer on family trips. The questions, however, didn’t occur to her until she was older: Whose lives, and deaths, lay behind a project so massive it redefined countries and redrew the world’s map? “I grew up going to the canal, but I didn’t know what I was seeing,” Henríquez said. And, “Free lodging and medical care.” “Work in paradise!”

Persons: Cristina Henríquez, Teddy Roosevelt’s, ” Henríquez, “, ” Locations: Panama

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