Iran conflict snarls 10% of world’s container fleet: ONE CEO
Carriers will begin to reshuffle cargo and prioritize empty vessels, which will impact freight rates, Ocean Network Express executive Jeremy Nixon said at TPM26 by S&P Global.
Carriers will begin to reshuffle cargo and prioritize empty vessels, which will impact freight rates, Ocean Network Express executive Jeremy Nixon said at TPM26 by S&P Global.
An expert on Yemen told TPM26 the leadership of the Tehran-backed militant group appears to be split on how best to respond to the attacks on Iran that began over the weekend.
As the war launched by the US and Israel against Iran extends into its third day, about 10% of the global container shipping fleet remains stranded inside the Persian Gulf or held up outside.
The global chief economist for S&P Global Ratings told TPM26 the uncertainties that come with current White House policies are part of the mix when formulating economic forecasts.
The ex-US Treasury Secretary said consumers could pull back on spending should crude oil and gasoline prices remain aloft due to the latest attacks on Iran by the US and Israel.
Carriers enacted temporary suspensions and surcharges following strikes from the U.S. and Israel on the country, which could introduce supply chain volatility.
U.S. manufacturing activity expanded for the second month in a row, driven by new orders and backlog growth, as tariffs and rising oil prices inject uncertainty.
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The move comes as transshipment cargo handling declines are expected at Indian ports following a recent government decision to revoke the cabotage waiver that foreign-flag carriers have enjoyed since 2018.
As-a-service models and success stories from peers are pushing SMEs to invest in automation technology within their supply chains alongside giants like Walmart and Amazon.