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Global Trade & Economics: Page 27

Somali Pirates Hijack Oil Tanker in Red Sea

The Houthis and Somali pirates have cultivated an alliance over the years, with the rebels at times providing technology and military backup.

Photo: iStock / Vidas Pocius

Trump Says U.S. to Start Guiding Trapped Ships Through Hormuz

This new effort does not currently involve U.S. Navy escorts, but rather a coordination process for countries, insurance companies and shipping organizations.

Photo: iStock / 35007

Oil Tanker Pricing Feud Embroils a Centuries-Old London Market

The case is the latest example of how oil traders and shippers are struggling to adjust to the disruption wrought by the near-closure of the Strait of Hormuz.

Photo: Bloomberg

EU Parliament Trade Chief Calls Trump Tariff Threat Unacceptable

Trump on May 1 said he would boost levies on cars and trucks from the European Union to 25%.

Trump Lifts Tariffs on Scotch Whisky

The U.S. continues to consume vast quantities of Scotch, in 2025 buying the equivalent of 120 million bottles, almost one for every two American adults of drinking age.

Photo: iStock/Peter Burnett

China to End African Tariffs

Analysts say that tariffs are rarely the main obstacle for exporters in Africa, which as a continent has a huge trade deficit with China, rising in 2025 by 65% to about $102 billion.

Image: iStock/Anastasiia_Guseva

Iran Doubles Down on Fight for Control over Strait of Hormuz

Khamenei stressed that Iran has no intention of relinquishing control of the Strait of Hormuz, and that the country plans to implement new legal frameworks for managing the waterway.

An aerial 3D illustration render of cargo ships stuck in the Strait of Hormuz. Image: iStock/quantic69

Tariffs Drive Chaotic Year for Imports at U.S. Ports in 2025

"2025 will surely be remembered as the year U.S. tariffs rewrote the global trade playbook," Descartes said in its Top 30 U.S. Ports report released on April 28.

A variety of ships including a large bulk carrier and liquid tanker ships along the Houston Ship Channel about four miles from downtown Houston, Texas. Photo: iStock/Art Wager

ONE Reports 92% Dip in 2025 Profits

ONE took in $338 million in full-year net profits for the fiscal year, down from $4.24 billion the previous year.

A methanol-fueled ship. Image: Ocean Network Express Pte. Ltd. (ONE)

‘Buckle Up’: Trade Woes Hurt Canada’s Railways as Revenue Falls

Shares of Canadian National Railway Co. slumped 6% on April 29, the most in more than five years, after it reported quarterly revenue of C$4.38 billion.

Photo: iStock / JHVEPhoto

Iranian Ports Could Be Blockaded for ‘Months,’ Says Trump

The economist Paul Krugman, a former New York Times columnist, said he believed most analysts had been “far too sanguine” about the effects of a prolonged Hormuz crisis.

Photo: Bloomberg

Hormuz Disruptions Trigger Billions of Dollars in Oil Trading Disputes

The increasingly widespread issues are adding to headaches for producers and traders already grappling with the biggest oil supply shock in history.

Photo: Bloomberg

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