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☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Latest shipping data reveals that mid-range retail is the new consumer price sweet spot
▼ + stars: | 2024-05-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Almost 80% of current freight orders received for peak season are for mid-range price items, the survey shows. Similar to last year, respondents expect less consumer appetite for luxury and aspirational luxury items imported. The world's second-largest ocean freight company, Maersk, recently told CNBC it expected a "normal" peak season. "There's nothing that indicates that it would be a slower peak season or a bigger peak season," said Charles Van der Steene, president of Maersk North America, in a recent interview with CNBC. "We believe in normalized peak season.

Persons: Eric Thayer, Robinson, Kuehne, Nagel, Noah Hoffman, Hoffman, hypersensitive, Charles Van der Steene, We've, John David Rainey, Rainey, Larry, Jon Gold, Nate Herman, Biden Organizations: US, Bureau, Bloomberg, Getty, CNBC, Chain Survey, National Retail Federation, American Apparel and Footwear Association, United National Consumer Suppliers, ITS Logistics, DHL, Uber Technologies, C.H, Maersk, Walmart, Uber, International Longshoremen's Association, ILA, United States Maritime Alliance, Brands Locations: of Los Angeles, Los Angeles , California, U.S, Panama, Maersk North America, East Coast, Gulf, East, North America, West, Coast

☆ 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

☆ Maersk North America president on returning to Baltimore port and the shipping outlook
▼ + stars: | 2024-05-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaersk North America president on returning to Baltimore port and the shipping outlookCharles Van der Steene, president of Maersk North America, joins CNBC's Lori Ann Larocco to discuss the Baltimore port reopening timeline, peak shipping season, and the US consumer and economy.

Persons: Charles Van der Steene, Lori Ann Larocco Organizations: North America, Maersk Locations: Baltimore, Maersk North America

☆ Oil prices rise as market monitors Gaza cease-fire talks, OPEC production cuts
▼ + stars: | 2024-02-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden speaks during the annual National Prayer Breakfast at the U.S. Capitol in Washington, D.C., U.S., February 1, 2024. Crude oil futures rose Tuesday amid uncertainty about the prospects for a cease-fire in the Israel-Hamas war and as some investors expect OPEC+ will extend its production cuts beyond the first quarter. President Joe Biden told reporters in New York City on Monday that he hoped a cease-fire would be reached in the Israel-Hamas war by March 4. OPEC+ will soon make a decision on whether to extend its production cuts beyond the first quarter. Raj said the lack of clarity in the Israel-Hamas war and the ongoing turmoil with Houthi militants in Yemen gives traders little reason to sell oil right now.

Persons: Joe Biden, Biden, there's, Ahmed Abdel Hadi, Al Mayadeen, Goldman Sachs, Manish Raj, Raj, Israel, Charles van der Organizations: U.S, Capitol, Washington , D.C, West Texas Intermediate, Brent, OPEC, Velandera Energy Partners, CNBC, Reuters, Maersk North Locations: Washington ,, Israel, New York City, Lebanon, U.S, Gaza, OPEC, Saudi Arabia, Yemen, Maersk

☆ 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

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