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☆ 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 group is now waiting in Mexico City to get an appointment so they can legally cross the U.S.-Mexico border. They are biding time in Mexico City until they have enough money for a phone so they can use CBP One. Mexico deported only about 429 Venezuelans during the first two months of 2024, meaning nearly all are waiting in Mexico. Many fear that venturing north of Mexico City will get them fleeced or returned to southern Mexico. She said they were robbed by Mexican officials and gangs and returned several times to southern Mexico.

Persons: it's, ” Daniel Ventura, Biden, —, Joe Biden, Andres Manuel López Obrador, ”, López Obrador, Yessica Gutierrez, “, Jose Alberto Uzcategui, Stephanie Brewer, Maria Victoria Colmenares, Colmenares, Alejandro Mayorkas, Torrealba, ___, Gonzalez, Rebecca Santana Organizations: MEXICO CITY, U.S, United, Migrants, Washington Office, CBP, . Homeland, Associated Press, Washington , D.C Locations: MEXICO, U.S, Colombia, Panama, Mexico, “, Darien, Fort Atkinson , Wisconsin, Guatemala, Venezuela, Ecuadorians, United States, Mexico City, Venezuelan, Trujillo, Panamanian, America, The U.S, Tijuana, San Diego, Matamoros, Brownsville , Texas, Nicaragua, Washington ,

☆ 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

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

☆ ‘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

☆ An Arms Smugger, a Daring Heist, and the Birth of Israel
▼ + stars: | 2024-03-24 | by ( David Kushner | ) www.businessinsider.com time to read: +35 min

Joining the Haganah, Schwimmer discovered, wasn't as easy as just strolling through the door. "He felt he had to do his part in creating a Jewish state, so this could never happen again," Schwimmer recalled. Rather than melt down the surplus weapons for scrap, Liff told Greenspun to take as much as he wanted — free of charge. "It went against the grain to buck the same government we had fought to preserve only a few years before," Hank Greenspun recalled. In 2001, at the urging of Brian Greenspun, Schwimmer received a presidential pardon from Bill Clinton.

Persons: Danny Schwimmer, They'd, Rina, Al —, David Ben, Gurion, Al Schwimmer, Schwimmer, Bugsy Siegel's, Meyer Lansky, Frank Sinatra, Sinatra, —, Boaz Dvir, Israel —, Danny, Al, I've, Hank Greenspun, Greenspun, Brian, Adolph, Dick Tracy, " Schwimmer, Wing Walker, America, Yehuda Arazi, Arazi, they'd, Schwimmer's, Sam Lewis, Leo Gardner, Milton, Milt, Rubenfeld, Paul Reubens, Herman, Reubens, Bugsy Siegel, Siegel, — Schwimmer, Nathan Liff, Liff, PhotoQuest, Bernarr McFadden, Pat, Ptacek, Rafael Trujillo, Teddy Kollek, Erwin Johnson, Bill Gerson, Gerson, Bud King, Gerson's, Ben, Joel Kimmel, Lewis, Lansky, hadn't, Tommy, Messerschmitts, David, Milt Rubenfeld, Israel, Charlie Winters, Winters, weren't, aren't, America's, Joseph McCarthy, John F, Kennedy, Brian Greenspun, Golda Meir, Bill Clinton Organizations: Israeli Air Force, TWA, Haganah, United Nations, Lockheed Air, Los Angeles Examiner, USC, Getty, US Naval, Schwimmer Aviation, FBI, UN, Customs Service, Palestine . Volunteers, Embassy, Israel, Service Airways, State Department, BI, Pepsi, Zionist, Nazi, Star, American, Avia, Messerschmitt, Pennsylvania State University who's, Las, Sun, Israel Aerospace Industries, IAI, they're, Israeli Locations: Tel Aviv, Israel, Connecticut, Palestine, New York, Copacabana, United States, Hungary, Auschwitz, storages, Arizona, Bridgeport, Rome, Burbank , California, Burbank, Las Vegas, Hawaii, Oahu, Santa Claus, California, Washington, Burbank ., Acapulco, Mexico, it's, Mexico City, Central, South America, Dominican Republic, China, America, Mexican, Panama, Panamanian, Corsica, Oklahoma, Detroit, Suriname, Brazil, Senegal, Casablanca, Sicily, Catania, Europe, Czechoslovakia, Czech, Egypt, Cairo, Los Angeles, American, Gaza, Iran

☆ 'America's greatest gift to Israel'
▼ + stars: | 2024-03-24 | by ( David Kushner | ) www.businessinsider.com time to read: +35 min

As the country's founder and first prime minister, David Ben-Gurion, once declared, "America's greatest gift to Israel was Al Schwimmer." Joining the Haganah, Schwimmer discovered, wasn't as easy as just strolling through the door. "He felt he had to do his part in creating a Jewish state, so this could never happen again," Schwimmer recalled. Rather than melt down the surplus weapons for scrap, Liff told Greenspun to take as much as he wanted — free of charge. In 2001, at the urging of Brian Greenspun, Schwimmer received a presidential pardon from Bill Clinton.

☆ 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

☆ 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

☆ What the SEC climate disclosure rule may mean for investors
▼ + stars: | 2024-03-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Climate disclosures would be made in annual filings companies make to the SEC, such as a Form 10-K, and in registration statements filed before an initial public offering. "I think climate disclosures have largely become table stakes for the investment community," said Lindsey Stewart, director of investment stewardship research at Morningstar. Current climate disclosures are 'uncommon'Ships on the Panama Canal on August 21, 2023. Shipping experts fear such events could become the new normal as rainfall shortfalls highlight climate risks. The SEC proposal outlined three tiers of emissions disclosures: Scopes 1, 2 and 3.

Persons: Gary Gensler, Win Mcnamee, —, Lindsey Stewart, Daniel Gonzalez, Stewart, They'd, Rachel Curley, Hurricane Idalia, Christian Monterrosa, Cowen, Patrick McHenry, Sen, Tim Scott, Bill Huizenga, Chris Ratcliffe, They're Organizations: Securities, Exchange, Financial Services, General, Getty, The Securities, Exchange Commission, SEC, Morningstar, Panama Canal Authority, Shipping, Anadolu Agency, P Global, Corporations, U.S . Sustainable Investment, Hurricane, Bloomberg, Republicans, Economic, Deloitte Locations: Washington, Panama, U.S, Cedar Key , Florida, R

☆ There's been a rebound in volatile shipping stocks. The market opportunity isn't over, report says
▼ + stars: | 2024-03-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

During 2022-2023, ocean carriers used some of those reserves for their own buying sprees to expand their footprints. While adding to the ocean carrier bunker fuel costs, they are being compensated.. "The Red Sea diversions are a good thing for ocean carriers. The big question mark is the duration of the diversions and the surcharges the ocean carriers can charge. Those two regions have steadily taken market share away from the West Coast ports, with shippers also benefitting from investments in ports infrastructure. "The West Coast ports have strengthened infrastructure," Iampieri said.

Persons: Marc Iampieri, Cash, Iampieri, Jeff Bezos, It's, Paul Brashier, Brashier, AlixPartners Organizations: Bloomberg, Getty, Dow Jones Transportation, Fortune, Convoy, Amazon, Technology, Ocean, Maersk, CNBC, ITS Logistics Locations: Panama, Red, East Coast, AlixPartners, Flexport, Europe, North America, Asia, West Coast, East, Gulf, Mexico, West, Los Angeles, Long

☆ ‘Scandals and secrets’: On board the world’s most exclusive private residential ship
▼ + stars: | 2024-02-24 | by ( Francesca Street | ) edition.cnn.com time to read: +15 min

Welcome to The World, an exclusive private residential ship home to 165 superluxe apartments. Antonucci’s children were in their early 20s during his stint as a World resident, but they came and visited their parents on board from time to time. Unlike on an ordinary cruise ship, residents are able to make renovations and decorate according to personal tastes. Peter AntonucciFor many residents, the social life on board The World is also a big part of the appeal. The World’s owners also chose not to respond to Antonucci’s account of life on board.

Persons: CNN —, – you’ve, “ I’m, Peter Antonucci, you’ve, Antonucci, he’d, ”, he's, Peter Antonucci Antonucci, “, Antonucci didn’t, they’d, Antonucci can’t, ” Antonucci, –, aren’t, “ They’re, I’ve, ’ Antonucci, There’s, carousing ”, wasn’t, I’d, ‘, Antonucci “, he’s Organizations: CNN, HBO, CNN Travel, “, Street, Wimbledon, ” Locations: Antonucci, Belize, Panama, New York, Europe, Maldives, Seychelles, Australia, New Zealand, London, Rio de Janeiro, Florida, Solomon Islands, South Africa

☆ Shehbaz Sharif Set for Pakistan's Top Job as Elder Brother Steps Aside
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

Before his stint as prime minister, the younger Sharif was known more as a good administrator than a politician, having served as chief minister thrice in the country's largest province, Punjab. The deal was signed after Sharif personally called on IMF chief Kristalina Georgieva last June. Although defence and key foreign policy decisions are largely influenced by the military, Sharif will have to juggle relations with the U.S. and China, both major allies. He started his political career as the chief minister of Punjab in 1997 with a signature "can-do" administrative style. As chief minister, the younger Sharif planned and executed a number of ambitious infrastructure mega-projects, including Pakistan's first modern mass transport system in Lahore.

Persons: Asif Shahzad, Gibran Naiyyar Peshimam, Sharif, Nawaz Sharif, Nawaz Sharif's, Maryam, Imran Khan, Shehbaz Sharif, Khan, Shehbaz, Kristalina Georgieva, Tehmina Durrani, Ariba Shahid, Raju Gopalakrishnan Organizations: Pakistan Muslim League, Nawaz, Monetary Fund, IMF, U.S Locations: Gibran Naiyyar Peshimam ISLAMABAD, Sharif, London, country's, Punjab, Pakistan, Saudi Arabia, Qatar, China, India, Iran, Afghanistan, Lahore, Panama, Karachi

☆ Shipping giant Maersk says Red Sea vessel diversions could extend into second half of 2024
▼ + stars: | 2024-02-14 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Moller-Maersk, the second-largest global ocean carrier, is advising customers to prepare for a Red Sea crisis that could stretch well into the second half of this year. "Unfortunately, we don't see any change in the Red Sea happening anytime soon," Charles van der Steene, regional president for Maersk North America, tells CNBC. After attacks on two U.S.-flagged Maersk vessels on January 24, the Maersk Detroit and Maersk Chesapeake, Maersk Line, Limited — a U.S. subsidiary of Maersk, which operates U.S.-flagged vessels independently — announced it would no longer traverse the Red Sea. The global shipping and logistics company's cautious view of the Red Sea safety conditions comes despite a U.S.-led multinational military operation in the region, Operation Prosperity Guardian. "Our advice to our customers is specifically about building upon the uncertainty by being agile," said van der Steene.

Persons: Ebba, A.P ., Kristian Helgesen, Moller, Charles van der, Good Hope, der Steene, Maersk, van der, van der Steene, van der Steen, Panama hasn't, we're Organizations: A.P, A.P . Moeller, Maersk, Bloomberg, Getty, Maersk North, CNBC, Maersk Detroit, Maersk Chesapeake, Prosperity, U.S, Gaza, Maritime Security Program, VISA, Voluntary Intermodal, U.S ., Intelligence, East, Oceania Locations: Suez, Egypt, Maersk North America, Gulf, Aden, Hangzhou, Maersk, U.S, Good, Asia, Limited's U.S, West Coast, East Coast ., East Coast, Cape Hope, Panama, Ports, Mexico, Pacific Northwest, Los Angeles, Long, China, Australia, New Zealand

WASHINGTON (AP) — Arrests for illegal crossings on the U.S. border with Mexico fell by half in January from record highs in December to the third lowest month of Joe Biden's presidency, authorities said Tuesday. Border Patrol arrests totaled 124,220 in January, down 50% from 249,735 in December, the highest monthly tally on record. Tucson, Arizona, was again the busiest sector for illegal crossings with 50,565 arrests, down 37% from December, followed by San Diego. Greg Abbott's border enforcement efforts, plummeted 76% from December to 16,712, the lowest since December 2021. The only months of Biden's presidency with fewer border arrests were in June 2023, after pandemic-related asylum restrictions lifted, and February 2021, his first full month in office.

Persons: Joe Biden's, Alejandro Mayorkas, Troy Miller, ” Miller, Greg Abbott's, Mayorkas Organizations: WASHINGTON, White, House Republicans, U.S . Homeland, U.S, U.S . Customs, Protection, Border Patrol, Texas Gov, Associated Press, didn’t Locations: U.S, Mexico, Panama, Darien, United States, Haiti, China, Ecuador, Colombia, Tucson , Arizona, San Diego, Del Rio, Eagle, Texas, Rio Grande Valley

☆ An airline wants compensation from Boeing after it had to cancel a fifth of its flights due to the 737 Max 9 grounding
▼ + stars: | 2024-02-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Copa Airlines executives said they expect compensation from Boeing due to the 737 Max 9 grounding. AdvertisementAn airline which suffered disruption due to the 737 Max 9 grounding last month wants compensation from Boeing. The Panama-based carrier Copa Airlines is the biggest operator of the 737 Max 9 outside the US, with 29 such jets. Heilbron said Copa Airlines remains committed to its relationship with Boeing which it considers "an important partner." AdvertisementCopa Airlines was the first carrier to bring the 737 Max 9 back into service after the jet was ungrounded by the Federal Aviation Administration following inspections.

Persons: —, Pedro Heilbron, José Montero, Heilbron, Max, Dave Calhoun Organizations: Copa Airlines, Boeing, Service, Alaska Airlines, Deutsche Bank, Federal Aviation Administration, FAA, National Transportation Safety, Business Locations: Panama

☆ ‘Like going to the moon’: The world’s most terrifying ocean crossing
▼ + stars: | 2024-02-04 | by ( Julia Buckley | ) edition.cnn.com time to read: +19 min

And it’s not just the winds making the waters rough – the Drake is basically one big surge of water. We’re not gambling.”Even with that extra safety margin, though, he admits that crossing the Drake can be a hairy experience. A dangerous thrillAurora Expeditions' Greg Mortimer ship has a patented bow to make a Drake crossing more stable. “The only thing that works for me is going to the ship’s medic for a scopolamine patch,” he says. “If you were going to the moon, you’d expect the journey to be uncomfortable but it’d be worth it,” she says.

Persons: CNN —, ” Alfred Lansing, Ernest Shackleton’s, Drake, ”, it’s, Mike Hill, Adam ”, Alexander Brearley, –, ” “, Storm Isha, Brearley, That’s, It’s, Clelia, Fiona Stewart, Garett McIntosh, Horn, “, Stanislas Devorsine, Sue Flood, Le Commandant Charcot, ” Devorsine, Devorsine, “ We’re, Jamie Lafferty, “ Drake, Greg Mortimer, Tyson Mayr, He’s, Mundy, Edwina Lonsdale, ” Lonsdale, Sylvia Earle, Lonsdale, DreamPictures, acupressure, ” Jamie Lafferty, I’ve, ” Warren Cairns, There’s Organizations: CNN, British Antarctic Survey, Atlantic, “, AP, South America –, Aurora Expeditions, Institute of Polar Sciences, National Research Council of Locations: Antarctica, isn’t, South America, Ireland, Panama, Europe, South, California, New York, Cape Horn, South Africa, Australia, New Zealand, –, France, Cape, National Research Council of Italy, it’s, Lonsdale

☆ Self-navigating ships could change the shipping industry. Here are the companies poised to benefit
▼ + stars: | 2024-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Worldwide, the autonomous ships market reached $4.13 billion in 2022, and is forecasted to grow to $10.1 billion in 2032, according to Emergen Research . Avikus said this journey marked the first time autonomous navigation successfully enabled a large vessel to complete a trip over 10,000 kilometers. HiNAS 2.0 deployed a level-three autonomous navigation system, meaning that human intervention is only deployed in an emergency situation. The success of the HiNAS 2.0 and Prism Courage journey marked a foray into greater commercialization and implementation of autonomous ship navigation technology. The company is aiming for its fully autonomous ship technology to reach full-scale commercialization by 2025.

Persons: Patrick Ryan, Covid, Courage, Avikus, Carol Schleif, Rudy Negenborn, — Ryan, Ryan, BMO's, Morgan Stanley, Ravi Shanker, Shanker, Hunt, C.H, Robinson, Negenborn Organizations: Research, American Bureau of Shipping, Hyundai, Yara International ASA, Yara, BMO Family, Delft University of Technology, Moeller, Maersk, Yara International, Mitsui, Mitsui O.S.K, Royce, Shipbuilders, Expeditors International Locations: Covid, Avikus, Freeport, of Mexico, Panama, Korea, Red, Suez, U.S, Danish, American, ADRs, Japan

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