The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.
An American Shipper poll of shippers and forwarders revealed that nearly 90 percent believe at least some cargo will be delayed by the verified gross mass rule that went into effect globally today.
The U.S. Commerce and Energy departments have started an industry advisory group, along with their counterparts in Mexico, to make recommendations to strengthen cross-border trade and investment in the energy sector.
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Ocean carriers are coming around to the idea that being part of an alliance could save them money and help them offer shippers a greater variety of routes, something airlines have long known, according to Bloomberg Gadlfy columnist Chris Bryant.
The Green Bay, Wis.-based trucking and logistics firm announced the acquisitions of Watkins & Shepard and Lodeso, which both specialize in the delivery of difficult-to-handle goods such as furniture and carpet.
About 2,000 pilots that work for five DHL Express network cargo carriers in North America authorized a strike action in advance of parent company Deutsche Post DHL Group’s annual shareholder meeting Wednesday.