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☆ The US Navy's grappling with another Ford-class supercarrier delay that could run into the next decade
▼ + stars: | 2024-04-09 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

Read previewThe US Navy's third Ford-class aircraft carrier is facing delays that might push its delivery to 2030. The aircraft carrier USS Gerald R. Ford transits the Strait of Gibraltar, Jan. 5, 2024. Nick Guertin, the Navy's acquisition executive, attributed the shipbuilding delays to "common issues from lingering COVID impacts across the national workforce and supply chain landscape with industry reticent to invest." Related storiesThe following Ford-class carrier, USS Doris Miller (CVN-81), is currently on schedule thanks to the Navy buying both the Enterprise and Miller at the same time. AdvertisementA T-45C Goshawk training aircraft attached to Training Air Wing (TAW) 1, lands aboard the aircraft carrier USS Gerald R. Ford (CVN 78) during flight operations, Sept. 12, 2020.

Persons: —, Carlos Del Toro, Gerald R, Navy Petty, Jacob Mattingly, Nick Guertin, Doris Miller, Miller, Adm, Downey, Seaman Anton Wendler, Ford, Michael Gilday, Brian Glunt Organizations: Service, Ford, USS Enterprise, Business, Enterprise, Navy, BI, Newport News, Training Air, US Navy, Communication, Department of Defense, Army's, Force Locations: Virginia, Gibraltar, Jan, Oslo, China, Washington ,, Pacific

☆ Biden Reports Major Cash Haul in March as Trump Looks to Catch Up
▼ + stars: | 2024-04-06 | by ( Nicholas Nehamas | More About Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

“You can’t lie about the numbers,” Mr. Gifford said. His campaign also said he raised $10 million in the 24 hours after his State of the Union address on March 7. Trump campaign aides say they plan to out-raise Mr. Biden’s three-president bash with a major fund-raiser of their own on Saturday in Palm Beach. But Mr. Biden’s prodigious March may take some of the wind out of Mr. Trump’s sails. And there are signs that Mr. Trump may continue to up his fund-raising.

Persons: Mr, Gifford, “, Barack Obama, Bill Clinton, Trump, Trump’s, Biden’s, “ We’ve, ”, Jeffrey Katzenberg, Biden Organizations: Radio City Music Hall, Republican National Committee, Mr Locations: New York City, Lago, Palm Beach, Fla

☆ How Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades
▼ + stars: | 2024-04-04 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.

Persons: Bob Iger, Nelson Peltz, shoring, Peltz, “, Iger, ” Iger, Ron DeSantis, ”, Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, —, refocusing

☆ The global gas glut could reach multi-decade highs in the coming years, Morgan Stanley says
▼ + stars: | 2024-04-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

A liquefied natural gas tanker sails past a container terminal as it arrives in Yokohama, Japan, May 21, 2018. Natural gas prices have plunged as the world grapples with an oversupply after a warmer-than-expected winter. The recent heyday in liquefied natural gas boosted prices and profits, spurring a wave of investment in the sector. "We expect gas market oversupply to reach multi-decade highs over the coming years," Morgan Stanley's commodity strategists said. Natural gas prices currently stand at $1.83 per MMBtu (metric million British thermal unit), down about 22% so far this year.

Persons: Morgan Stanley, Morgan Locations: Yokohama, Japan

☆ Opinion: Why ‘black swans’ are behind the Key Bridge and other shipping disasters
▼ + stars: | 2024-03-28 | by ( Opinion Salvatore R. Mercogliano | ) edition.cnn.com time to read: +9 min

CNN —The allision between the container ship MV Dali and the Francis Scott Key Bridge in Baltimore on Tuesday has prompted numerous questions — not only about how this tragedy occurred, but also about our global shipping processes. This marked the start of a campaign by the Houthis, in support of Hamas in their attack on Israel, against global shipping transiting the Red Sea, Bab-el-Mandeb and the Gulf of Aden. Now, two years later, Baltimore is closed with remains of the Key Bridge athwart the main shipping channel. No one agency has oversight of or coordinates global shipping or ports in the US. There is also no overall maritime strategy for the nation, although the US Department of Transportation, Maritime Administration has been tasked to develop one.

Persons: Salvatore R, Mercogliano, Francis Scott Key, —, Sal Mercogliano Bennett Scarborough, Dali, ”, Jennifer Homendy, Transportation Pete Buttigieg, John Garamendi of, Dusty Johnson of Organizations: Campbell University, Shipping, YouTube, CNN, MV Galaxy Leader, Baltimore, Federal Highway Administration, Transportation, Bethlehem Steel, Department of Transportation, Maritime Administration, US Coast Guard, Army Corps of Engineers, Maryland Department of Transportation, US Department of Transportation, Federal Maritime Commission, Democratic, Republican, Dusty Johnson of South Dakota, Ocean Shipping Reform Locations: Baltimore, Asia, Suez, Los Angeles, Long, Yemen, Israel, Bab, Aden, China, Argentina, Largo, Dali, Sparrows, United States, John Garamendi of California, Dusty Johnson of South

☆ An ultra-luxury cruise line wants travelers to live on its cruise ship for 4.5 months while it sails to 40 countries — for up to $1.7 million a suite
▼ + stars: | 2024-03-27 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Regent Seven Seas Cruises' 140-night 2027 world cruise would sail to 71 destinations across 40 countries. The ultra-luxury cruise line's annual around-the-world voyages often sell out fast. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . If your answer is incredibly niche and something like "move onto a ship for four months while it sails to six continents," Regent Seven Seas Cruises has you covered. Like other luxury cruise lines, Regent Seven Seas operates annual monthslong world cruises, many of which have sold out.

Persons: —, you've Organizations: Seven Seas Cruises, Service, Seven Seas, Regent Seven Seas, Business

☆ What yachting industry insiders have to say about Jeff Bezos' superyacht
▼ + stars: | 2024-03-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Read previewIt's been just about a year since Koru, Jeff Bezos' $500 million megayacht, set sail from the Oceanco shipyard in the Netherlands, capturing the attention of yachting insiders and land dwellers alike. Unlike many other megayachts, Koru, which media billionaire Barry Diller's Eos inspired, is designed as a sailing yacht. AdvertisementLike most other megayachts, Koru is powered by her engines, which are reportedly innovative in their use of a kinetic energy recovery system. AdvertisementTeak or not, the yachting industry isn't generally known for being all that environmentally friendly — or indeed lowkey, so many who BI talked to didn't buy into the idea that Koru is "too much." It's the latest superyacht to capture the yachting world's attention.

Persons: —, Jeff Bezos, Koru, they'd, Federico Rossi, Barry Diller's Eos, he'd, Bezos, Lauren Sanchez, Origin's, Shephard, That's, Anders Kurtén, I'm, Jerry Jones, Bernard Arnault, Mark Zuckerberg Organizations: Service, Palm, Business, Industry, Yachts Locations: Netherlands, St, Myanmar

☆ Oil holds steady as Ukraine drone strikes, Red Sea crisis cause disruptions
▼ + stars: | 2024-03-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Charles Eddie, a crude oil tanker owned by Euronav SA, a Belgian shipping company, sails northbound on the Suez Canal in Ismailia, Egypt. Crude oil futures held steady on Tuesday as the wars in Eastern Europe and the Middle East disrupt supplies. Ukraine has escalated its drone strikes against Russian oil refineries, knocking an estimated 900,000 barrels per day of capacity offline, according to Goldman Sachs. The disruptions' impact on crude prices will likely be mixed, with a decline in refinery demand bearish while a potential reduction in Russian oil exports bullish, Goldman noted. The Red Sea disruptions combined with Russian shipping frictions has given crude prices up to a $4 boost per barrel due to larger than expected draws from commercial stocks, according to Goldman.

Persons: Charles Eddie, Brent, Goldman Sachs, Goldman Organizations: Euronav SA, The West Texas Intermediate Locations: Belgian, Suez, Ismailia, Egypt, The, Eastern Europe, Ukraine

☆ Premarket stocks: Congress has bad news for Wall Street
▼ + stars: | 2024-03-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Dealmaking is the lifeblood of Wall Street. But analysts say that funding cuts in the plan could end up harming mergers and acquisitions on Wall Street, squashing hopes of a recovery in dealmaking. The bad news: Recent regulations and proposed budget cuts threaten to step on those green shoots before they’re able to flower. Why it matters: Dealmaking isn’t just good for Wall Street. Shares of the stock are down nearly 30% so far this year after its seemingly nonstop streak of bad luck.

Persons: New York CNN — Dealmaking, Joe Biden, squashing, It’s, Goldman Sachs, ”, Lucille Jones, Jones, Mitch Berlin, Biden, ’, ” Berlin, That’s, Hewlett Packard, “, TikTok —, Brian Fung, TikTok, Shou Chew, Nadya Okamoto, Okamoto, Teddy Siegel, Siegel, David Goldman, LATAM, it’s, Max Organizations: CNN Business, Bell, New York CNN, Wall, LSEG, Federal Reserve, Federal Trade Commission, Department of Justice, Congressional, Office, CNN, Discover Financial Services, Hewlett, Juniper Networks, Target, Boeing, Alaska Airlines, United Airlines, The National Transportation Safety, Federal Aviation Administration, FAA, NTSB Locations: New York, dealmaking, EY, Berlin, “, LSEG, Australia, New Zealand, Newark

☆ Analysis: As Putin sails to re-election, Russia’s leader has a succession problem
▼ + stars: | 2024-03-11 | by ( Nathan Hodge | ) edition.cnn.com time to read: +7 min

CNN —Russian President Vladimir Putin is widely expected to sail to re-election in a nationwide vote that begins on March 15, securing a fifth term in office and a full third decade as Russia’s paramount leader. As Kremlin chairman, Russian Prime Minister Mikhail Mishustin would become the country's leader temporarily if Putin were to die or be incarcerated while in office. In 2008, Putin reached the end of his second presidential term, and stepped aside for a handpicked placeholder, Dmitry Medvedev. Some Russian political observers speculate that the real competition to succeed Putin is not likely until the 2030s, when Putin reaches his sixth term. Even the former president Medvedev, who lost the number two slot in 2020 when he stepped down in a government shakeup, may still have aspirations.

Persons: Vladimir Putin, Alexey Navalny, Joseph Stalin, Putin, Dmitry Peskov, Putin “, Joe Biden, Putin’s, …, ”, Andreas Umland, “ Putin, ” Umland, Wagner, Yevgeny Prigozhin –, “ It’s, Umland, Mikhail Mishustin, Gleb Schelkunov, Dmitry Medvedev, Medvedev, Irina Buzhor, Leonid Brezhnev, Alexander Lukashenko, Xi Jinping, Nursultan Nazarbayev, Nazarbayev, President Kassym, Tokayev, Andrey Pertsev Organizations: CNN, Stockholm Centre, Eastern European Studies, Russian, Russian Federation, Soviet, Air Force One, United Russia, Russian Security Council, AP, Chinese Communist Party, country’s Security, Kremlin Locations: Soviet, Ukraine, Moscow, Russia, Russian, Belarusian, Kazakhstan

☆ Oceania wants travelers to live on its new luxury cruise ship for 6 months while it sails to 43 countries. A trip starts at $60K — see what it'll be like.
▼ + stars: | 2024-03-10 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Oceania announced a 180-day 2026 world cruise from Miami to 101 ports, starting at $59,700 a person. The premium cruise brand tapped its new luxury ship, Vista, for the 43-country itinerary. Oceania's 2024 world cruise set sail in January after it sold out in 30 minutes. AdvertisementOceania Cruises wants you to spend at least $59,700 — and 180 days — living on its newest cruise ship while it sails 360 degrees around the globe. In January, its most recent world cruise on the fully booked Insignia departed from Los Angeles on a similar 180-day, 96-port journey.

Persons: — Organizations: Oceania, Service, Oceania Cruises, Norwegian Cruise Line Holdings Locations: Miami, Los Angeles, Oceania, Norwegian

☆ Asia markets poised to rise after Wall Street rebound; trade data from Australia and China awaited
▼ + stars: | 2024-03-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesAsia-Pacific markets are set to rise as investors await trade data from Australia and China on Thursday. This also follows comments from U.S. Federal Reserve chair Jerome Powell, who reiterated his stance that while the central bank could start cutting rates, it is "not immediately ready." In Australia, the S&P/ASX 200 rose 0.14%, nearing its all time high of 7,745.6 hit on March 1. Futures for Hong Kong's Hang Seng index stood at 16,565, higher than the HSI's close of 16,438.09 and on pace to extend gains on Wednesday after it rose almost 2%.

Persons: Jerome Powell Organizations: Opera, Vivid, Anadolu Agency, Getty, U.S . Federal, Japan's Nikkei Locations: Sydney, Australia, Asia, Pacific, China, U.S, Chicago, Osaka

☆ Holland America wants travelers to live on a cruise ship for 4 ½ months while it sails to 39 countries on all 7 continents — see what it'll be like
▼ + stars: | 2024-02-28 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

The 132-day itinerary includes 47 ports in 39 countries on all seven continents. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn 2026, the only flight you'll have to take to visit 39 countries in less than half a year is the one from your home to Fort Lauderdale, Florida. This story is available exclusively to Business Insider subscribers.

Persons: —, Royal Organizations: Holland America Line, Service, Business Locations: Holland, Fort Lauderdale , Florida

☆ Houthis claim 'catastrophic' attack in Red Sea that prompted crew to abandon ship
▼ + stars: | 2024-02-19 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

The Iran-backed Houthi militant group on Sunday damaged a ship offshore Yemen, prompting its crew to abandon the vessel in the latest escalation of maritime tensions that have disrupted key trade routes in the Red Sea. Houthi militants later claimed the attack, with spokesperson Yahya Sare'e identifying the vessel as general cargo ship Rubymar and describing it as British. "The ship suffered catastrophic damage and came to a complete halt," Houthi Spokesperson Sare'e said. The hostilities have also prompted armed exchanges between Houthis and British and American forces, which have previously struck at Yemeni targets in a bid to improve maritime security. Sare'e said that the Houthis on Sunday also shot down a U.S. drone in Hodeidah.

Persons: Yahya Sare'e, Sare'e, Ice Brent, Nymex WTI Organizations: Maritime Trade Operations, CNBC, Global, Djiboutian Navy, Hamas, Maersk, Ice, U.S . Central Command, U.S . Navy, Ambrey Analytics Locations: Iran, Yemen, Red, Belize, British, U.S, Saudi, Khair, Varna, Bulgaria, Gulf, Aden, London, Gaza, Danish, Good Hope, Houthis, ., Houthi, Greece, Yemen's

☆ Canada shipwreck: A fierce storm uncovered a mysterious vessel, now another could destroy it
▼ + stars: | 2024-02-14 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

The Cape Ray shipwreck is an example of a wider phenomenon, experts say, where climate change-fueled storms are uncovering the world’s underwater history — but also destroying it. Shawn Bath, of the Clean Harbours Initiative, works to secure the shipwreck in Cape Ray, Newfoundland, Canada. Courtesy Shawn Trevor/Clean Harbours InitiativeA section of shipwreck that washed ashore is seen in Cape Ray, Canada. Forecasts suggest wind gusts of 25 mph around Cape Ray with waves up to 20 feet. In Cape Ray, Croft and Bath are doing all they can to protect the mysterious wreck.

Persons: Shawn Bath, Trevor Croft, ” Croft, Fiona, Shawn Trevor, Croft, Lisa Briggs, ”, “, Briggs, ” Briggs, that’s Organizations: CNN, Cranfield University Locations: Newfoundland, Canada, Cape Ray, Coast, French, British, Bath, seabeds, ”

☆ Opinion | No, ‘Rhapsody in Blue’ Is Not ‘the Worst’
▼ + stars: | 2024-02-08 | by ( John Mcwhorter | ) www.nytimes.com time to read: +2 min

Gershwin intended the rhapsody to fuse the respective powers of classical music and jazz. In the article I cited above, “The Worst Masterpiece: ‘Rhapsody in Blue’ at 100,” Iverson offers an intriguing take: that “Rhapsody in Blue,” while having its charms, is just too square to merit being played as often as it is. He believes the rhapsody isn’t truly jazzy enough, and specifically that it only lightly dwells in African-based rhythm. But to Gershwin, the rhapsody was precisely what it needed to be. I resolved, if possible, to kill that misconception with one sturdy blow.” So while the rhapsody certainly has its foot-tapping sections, it also sails, rests, jolts and soars.

Persons: George Gershwin’s, tony, Paul Whiteman, Gershwin, Ethan Iverson, ” Iverson Organizations: Times, Aeolian Locations: Manhattan

☆ It’s never been more expensive to be a Disney fan
▼ + stars: | 2024-02-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Not only have theme park visits gotten more expensive, but so have Disney’s cruise vacations, souvenirs and the company’s streaming services. Over the summer, Disney quietly raised the prices at two of the adult-exclusive restaurants on board its cruise ships to $135 per person for dinner, a nudge up of $10, according to the Disney Cruise Line Blog. But one thing is certain: being a Disney fan has never been more expensive. Passengers stand on the deck of Disney Dream, a Disney Cruise Lines' ship, as it sails to the Bahamas on August 9, 2021. Joe Skipper/ReutersBrittany Huizinga, an Arizona-based travel agent at Smart Moms Travel, took a two-part trip with her husband and two children during the holiday season: The first four nights were spent at Walt Disney World and the last five nights on a Disney Cruise ship.

Persons: Walt, Gina Lee, ”, “, Disney, Ron DeSantis, Don Munsil, —, That’s, Minnie, Joseph Prezioso, Genie, we’ve, ” Munsil, Joe Skipper, Brittany Huizinga, Bob Iger, Mouse’s, Doug Arthur, “ It’s, Disney’s, Lee Organizations: CNN, Walt Disney World, Disney, Disney Vacation, Magic, Walt Disney, Anadolu Agency, Getty Images Parks, Disney Cruise Lines, Smart, Huber Research Partners, Disney’s ESPN, Fox Corporation, Warner Bros ., . Disney, Wayback Locations: Orlando , Florida, New York, —, Florida, Disneyland, California, Orange County , Florida, Bahamas, Arizona

“Here in Florida, you’ve had a real dose of Trumpism,” Biden told donors in nearby Jupiter, Florida where Trump owns a golf course. “You’re the reason Donald Trump is a defeated president,” Biden said to the attendees. Along with North Carolina, Florida is a state Biden lost in 2020 but which his campaign sees as a pickup opportunity. It’s a very tall order for the Biden campaign. The president lost Florida voters 65 and older to Trump by 10 points in 2020, a wider gap than his 5-point deficit nationally.

Persons: Biden, Donald Trump, Joe Biden’s, you’ve, ” Biden, ”, “, hadn’t, Trump’s, Republican megadonors, Nikki Haley, Biden’s, he’ll, Trump, MAGA, GOP Sen, Rick Scott, Ron DeSantis ’, Joe Biden, Joe Raedle, DeSantis, Donna Deegan, Nikki Fried, Fried, Tom Brenner, Democratic handwringing, That’s, Barack Obama, Bill Clinton Organizations: Trump, ” Air Force, Palm Beach International, Republican, Palm Beach, South, GOP, Republicans, Democrats, ., Sunshine State, Florida voters, Social Security, Medicare, Gov, University of Tampa, Democrat, Jacksonville, Florida Supreme, Florida Democrats, CNN, Democratic, Democratic Party, South Carolina's, State Fairgrounds, Reuters, ”, NBC News Locations: Jupiter, Miami , Florida Florida, Florida, Jupiter , Florida, New York, Palm, Palm Beach, South Carolina, Miami, North Carolina , Florida, Lago, Los Angeles, Columbia , South Carolina, Iowa

☆ Asia markets set to rise; GDP, inflation readings and Fed meeting in focus this week
▼ + stars: | 2024-01-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to rise as investors await GDP and inflation data from around the region this week. Markets will also be watching the U.S. Federal Reserve's first rate decision of 2024, set to be released Wednesday stateside. This week's major events will be China's factory activity figures for January as well as Australia's fourth-quarter inflation figures on Wednesday. This will be last set of key data before the Reserve Bank of Australia's meeting on Feb. 5. On Wednesday, Taiwan and Hong Kong will also release their fourth-quarter GDP numbers.

Organizations: Opera, Vivid, U.S, U.S . Federal, Reserve Bank of Australia's Locations: Sydney, Australia, Asia, Pacific, U.S ., Taiwan, Hong Kong

☆ Australia marks national day that stokes patriotism and anger
▼ + stars: | 2024-01-26 | by ( Angus Watson | ) edition.cnn.com time to read: +9 min

Sydney CNN —“Australia Day is Dead!” Indigenous activist Gwenda Stanley chants into the loudspeaker, as a crowd of thousands breaks into applause. This is not a day to celebrate.”Nearby, Kevin Shaw-Taylor agrees January 26 is “absolutely not” an appropriate day for national celebrations. On the other side of the city, the Australia Day party was in full swing. A yacht sails in Sydney Harbor to mark Australia Day on January 16, 2024. Instead of guilt on Australia Day, a vast number of Australians “associate it with summer fun,” says Bongiorno, from the ANU.

Persons: Gwenda Stanley, It’s, Lynda, June Coe, Jenny Evans, ”, Grace, Elise, Kevin Shaw, Taylor, Arthur Phillip, Dan Himbrechts, EFE, Frank Bongiorno, –, Asanka Ratnayake, Chelsea Watego, “, Peter Dutton, ” Dutton, Dutton, Brad Banducci, Banducci, ” Banducci, Captain Cook, Queen Victoria, Queen, Diego Fedele, “ I’m, UQ’s, we’ve, we’re Organizations: Sydney CNN —, Indigenous, “, CNN, Australia, First Nations, Sydney, British Royal Navy, Australian National University, ANU, Aboriginal, Torres Strait Islanders, Voters, Nations, Curumba, Sea, Indigenous Voice, Coalition, Woolworths, Sovereign Movement, Blak Locations: Sydney, “ Australia, Belmore, Sydney’s, Australia, Sydney Harbor, Melbourne, Queensland, Queen Victoria

☆ China says US military makes region more dangerous after Navy ship sails through Taiwan Strait
▼ + stars: | 2024-01-26 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

Seoul, South Korea CNN —China accused the United States military of “abusing international law” and continuing a pattern of “dangerous provocations” in East Asia Thursday, after a US Navy destroyer made the service’s first transit of the Taiwan Strait of 2024. The USS John Finn (DDG 113) conducts routine operations in the East China Sea, on January 24, 2024. John Finn’s transit through the Taiwan Strait demonstrates the United States’ commitment to upholding freedom of navigation for all nations as a principle,” Greene said. While the John Finn’s transit of the Taiwan Strait was the first of 2024, US warships and warplanes regularly travel through and over the waterway. Aquilino told a defense forum in Hawaii that he expected a show of force from China against Taiwan in the wake of the election result.

Persons: ”, John Finn, Xi Jinping, reunify, Justin Stack, Cmdr, Meagan Greene, John Finn’s, ” Greene, John, Collin Koh, Washington, Wu Qian, “, John Aquilino, Aquilino, ” Aquilino, ” Koh Organizations: South Korea CNN, United, US Navy, Democratic Progressive Party, Party, Taiwan, Taiwan Relations, U.S . Navy US Navy 7th Fleet, Coast Guard, Rajaratnam, of International Studies, China’s Defense Ministry, Xinhua, China -, Defense, Pacific Command, Communist Party, Clinton, CNN, Pacific Locations: Seoul, South Korea, China, United States, East Asia, Taiwan Strait, Taiwan, Beijing, East China, State, States, Singapore, China - U.S, U.S, Hawaii, Honolulu ., Washington

☆ Global shipping recession could end as freight rates soar on Red Sea troubles
▼ + stars: | 2024-01-16 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Stringer | Bloomberg | Getty ImagesVessels transiting the Red Sea have faced attacks over the past several weeks from Yemen-based Houthis, prompting shipping companies to change routes, leading to a spike in freight rates. Alan Baer CEO of OL USAVessel-Operating Common Carriers (VOCC) are ocean carriers that own and operate vessels responsible for managing cargo and transporting them. Luis Boza/ | Nurphoto | Getty ImagesWhile the recent spikes in freight rates might not help shippers relive their glory days following the pandemic, they would substantially boost profitability. Brashier noted that both contracted rates for ocean carriers and spot market rates may rise further. Overall, container freight will still [find it] difficult to manage oversupply issue.

Persons: Stringer, Houthi, Alan Baer, Baer, Luis Boza, Nico Luman, Jefferies, Brashier, Daejin Lee Organizations: Bloomberg, Getty, Houthi, U.S, U.S . Central Command, USA, CNBC, Evergreen, Shipping, Logistics, Head, Research, Fertistream Locations: Suez, Egypt, Yemen, South Africa, Gibraltar, Maersk, Lisbon, Portugal, Asia

☆ Houthi attacks rocking Red Sea trade routes likely won't end anytime soon. Here's what could happen next
▼ + stars: | 2023-12-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea in this photo released on Nov. 20, 2023. Houthi Military Media | Via ReutersDrone and missile attacks by Yemen-based Houthi militants have upended shipping through the Red Sea and Suez Canal, a narrow waterway through which some 10% of the world's trade sails. And will a U.S.-led naval security coalition be effective enough to make the Red Sea trade routes safe for trade again? Zoom In Icon Arrows pointing outwards An infographic titled 'Bab-el-Mandeb Strait: Trade route between East and West narrows amid Houthi threat' created in Ankara, Turkiye on December 18, 2023. Concerns grow as major maritime transportation companies alter their ship routes in response to the increasing Houthi threats in the Red Sea.

Persons: Lloyd, Ryan Bohl, Rane, Khaled Abdullah, Houthi, Rather, Mohammed Hamoud, Mohammed al, Sidharth, , Kaushal, Corey Ranslem Organizations: Galaxy Leader, Houthi, Media, Reuters, . Central Command, BP, Maersk, MSC, CMA, Pentagon, DHL, Middle East, CNBC, Hezbollah, Saudi, Arab, Hamas, Royal United Services Institute, Maxar, Dryad Locations: Red, Yemen, Suez, Africa, Asia, Europe, North Africa, U.S, Lebanese, America, Israel, Saudi, Sanaa, Saudi Arabia, Iran, Mandeb, Trade, East, West, Ankara, Turkiye, Hodeida, Islamic Republic, Gaza, Palestinian, Israel's, Sana'a, London, Bahrain, Canada, France, Italy, Netherlands, Norway, Spain

☆ Oil CEO says blaming the energy industry for the climate crisis ‘like blaming farmers for obesity’
▼ + stars: | 2023-12-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

watch nowDUBAI, United Arab Emirates —The chief executive of UAE-based energy firm Crescent Petroleum on Tuesday claimed that blaming the oil and gas industry for the climate crisis "is like blaming farmers for obesity." The burning of coal, oil and gas is by far the largest contributor to climate change, accounting for more than three-quarters of global greenhouse gas emissions. "Blaming the producers of oil and gas for climate change is like blaming farmers for obesity. U.N. Secretary-General António Guterres said that the announcement was "a step in the right direction" for Big Oil and showed that the fossil fuel industry was "finally starting to wake up." Others, including former U.S. Energy Secretary Ernest Moniz, believe that the participation of energy giants should be welcomed at events such as COP28.

Persons: Majid Jafar, CNBC's Dan Murphy, Sultan Ahmed Al Jaber, Abu, COP28, António Guterres, Jafar, We're, Ernest Moniz Organizations: United Arab Emirates —, UAE, Petroleum, Crescent Petroleum, Crescent Petroleum Co, Abu Dhabi National Oil Co, United Arab Emirates national, Expo, Bloomberg, Getty, Big Oil, U.S . Energy Locations: DUBAI, United Arab, Dubai, Abu Dhabi, United Arab Emirates, U.N, New York

☆ The Books That Explain 2023 - The New York Times
▼ + stars: | 2023-12-03 | by ( Ezra Klein | ) www.nytimes.com time to read: +4 min

“Chip War” is a reminder of the physical artifacts that underlie what we so wrongly describe as the cloud. The title of Miller’s book is, for now, rhetorical, but I found myself wondering how long that would remain the case. There are more histories of this era of American politics than any bookshelf can hold. The apogee of America’s welfare state, with all its limitations, was coterminous with the height of the Cold War. But I believe a new one has already begun, and it is being shaped more by China than by any American politician, including Trump or Biden.

Persons: Chris Miller’s, ” Miller, Miller, Biden, Trump, Gary Gerstle’s, ”, Gerstle Organizations: Deal, Biden, Soviet Union, Trump Locations: United States, China, Taiwan, Outmaneuvering China, Soviet

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