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Global Trade & Economics: Page 253

Blocked Suez Forces Ships to Look at Long Trip Around Africa

A massive container ship blocking the Suez Canal showed no signs of budging for a third day, forcing container carriers and other vessels to weigh costly and time-consuming voyages around Africa that threaten to destabilize the already fragile underpinnings of global trade.

Satellite image from Cnes2021, Distribution Airbus DS, shows cargo ship Ever Given stuck in the Suez Canal near Suez, Egypt, Thursday, March 25, 2021.

What’s Backed Up at the Suez Canal? Live Animals, Oil and Food

Crews are still struggling to remove Ever Given, a stranded container ship longer than the Eiffel Tower, and a look at the type of cargoes waiting to pass show the shipping delays will affect a range of industries.

0325 Suez Canal

In Race for Speed, Massive Cargo Ships Are Outrun by Nimble Vessels

Running full steam has revealed how temperamental the backbone of the global trading system is when stretched.

Shipping containers sit on the deck of cargo ship One Crane, docked at the Port of Rotterdam, in Rotterdam, Netherlands. Photo: Bloomberg.

Suez Canal Container Ship Refloated After Blocking Trade Artery

One of the largest container ships in the world has been partially refloated after it ran aground in the Suez Canal, causing a huge jam of vessels at either end of the vital international trade artery.

Fight Between Commodities Giants and Shippers Leaves Seafarers Stuck

A standoff between commodities giants and shipping companies is prolonging the labor crisis at sea, with an estimated 200,000 seafarers still stuck on their vessels beyond the expiration of their contracts and past the requirements of globally accepted safety standards.

Emissions from a cargo ship at dusk. Photo: Shutterstock.

CP Rail’s CEO Makes the $25 Billion Deal His Mentor Wouldn’t

Canadian Pacific Railways’s Keith Creel for years followed in the footsteps of Hunter Harrison, an industry legend whose revolutionary efficiency strategy became the standard at all the major North American railroads.

Keith Creel, chief operating officer of Canadian Pacific Railway Ltd. Photo: Bloomberg.

CP Rail Agrees to Buy Kansas City Southern for $25 Billion

Canadian Pacific Railway is aiming to create a 20,000-mile rail network linking the U.S., Mexico and Canada in the first year of those nations’ new trade alliance.

A Canadian Pacific Railway train leaves Hardisty, Alberta, Canada. Photo: Bloomberg.

Global Chip Shortage Is Good for Cargo, ANA Says

ANA Holdings Inc. expects its cargo unit to receive a boost this year from the global chip shortage as planes loaded with semiconductors help speed deliveries to automakers and consumer-electronics manufacturers.

Photo: Bloomberg

Shortage of New Shipping Containers Adds to Global Trade Turmoil

The world’s biggest makers of shipping containers are scrambling to meet a surge in demand for the metal boxes that shuttle some 90% of the goods around the global economy.

Photo: Bloomberg

Will U.S. Manufacturers Benefit From a Stronger ‘Buy American’ Policy?

President Biden’s executive order reaffirming the “Buy American” policy for federal government contracting is meant to close the loopholes that have permitted some foreign sourcing of goods and services. But can U.S. manufacturers step up the pace of production to take advantage of the action?

An American flag is displayed on a loading dock. Photo: Bloomberg.

Huawei Pivots to Fish Farms, Mining After U.S. Blocks Its Phones

Six months after the Trump administration dealt a crushing blow to Huawei Technologies Co.’s smartphone business, the Chinese telecommunications giant is turning to less glamorous alternatives that may eventually offset the decline of its biggest revenue contributor.

Source: Bloomberg

U.K. Firms Decry Unfair Brexit Border as EU Goods Waved In

The U.K.’s decision to postpone border checks on goods coming from the European Union until next year has delighted the country’s importers — but left some exporters angry.

0214 Brexit

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