Transpacific ocean rates rise, demand softens
The increases are not drastically altering market dynamics, although ocean shipping faces uncertainty amid the Iran war.
The increases are not drastically altering market dynamics, although ocean shipping faces uncertainty amid the Iran war.
The carrier said the ships, with a combined value of up to $1.8 billion, will be deployed on Asia–Europe services as part of a strategic plan to increase the size of vessels serving that trade by 2030.
As part of the deal, Iran said it would allow shipping to resume through the strait with vessel passages coordinated by the Iranian military, but it has not yet issued any technical details.
The company said growing its capacity by 10,000 units provides flexibility during peak seasons and faster response times for urgent shipments.
The Postal Service will temporarily send affected packages to alternate locations amid a push to modernize its infrastructure.
The president said the duty is effective immediately, although it’s unclear how it would be implemented after the Supreme Court clipped Trump’s power to issue broad levies.
Polyethylene prices have roughly doubled since the end of February as Iran’s closure of the Strait of Hormuz has cut off the region’s petrochemical plants from the rest of the world.
The agency’s ruling maintains the competitive status quo in which NS is the only railroad with direct access to Norfolk International Terminals.
Operations at the Matteson facility will be relocated to other NextGen facilities in Walmart’s fulfillment network, impacting 111 employees.
Earnings calls across home builders and home improvement and furniture retailers show an uneven market where consumers are choosing smaller maintenance and repair projects and delaying large discretionary purchases.