The military exercises began last night, hours after US House Speaker Nancy Pelosi visited Taiwan and met President Tsai Ing-wen, angering China, which has viewed Taiwan as a renegade province since the 1949 Chinese Civil War. Six ‘no-sail’ and ‘no-fly’ zones have been marked out by China, w...

Congressmen Payne, DeFazio, Scott and Costa introduced a new Freight Rail Shipping Fair Market Act, which will seek to address perceived excesses in the American rail sector. A gift to rail unions, after President Joe Biden signed an executive order to prevent strike action last month, the bill seek...

The decision to go for factory-built freighters rather than convert passenger 777s was largely driven by the opportunity to get slots on the Boeing production line and have the aircraft available for service sooner, said Jason Berry, VP cargo. At the same time, the investment reflects the outlook of...

He said his confidence in the integrity of the contract business, which now represents some 70% of of the carrier’s volumes, was in the make-up of its top-200 client portfolio. Mr Skou said: “What’s important to understand when you look at our portfolio today is that it is heavily weighted tow...

Yesterday, management announced they were in discussions with clients to build 15,000 teu and 2,000-3,000 teu vessels. CSBC VP Chou Chih-ming said although the global economy was showing signs of weakness, due to the global target of achieving zero carbon emissions by 2050, shipping companies were i...

According to “people familiar with the matter”, Apollo Global Management is in advanced talks to buy Atlas Air, with a deal expected “soon”. Apollo has form: in 2018, a year before the low-cost carrier became an Amazon capacity supplier, it bought Sun Country Airlines; it also invested in Sw...

Two senators and two members of the House of Representatives have written to the head of the Surface Transportation Board (STB) expressing concern about potential repercussions from the merger. The STB is reviewing the merger application and is expected to issue its verdict early next year. The poli...

Indian Railways (IR), the public enterprise that governs and operates the country’s rail systems, has again scaled down the haulage subsidies allowed for the movement of empty containers. The rebate scale, reduced from 25% to 15% in April, has this week been revised further, to 10%, through the en...

The new regime begins on 8 August. The shipping line said previous moves to resolve the backlog had proved insufficient, adding: “We had until now focused on draying containers with no activity for more than 14 days. “Unfortunately, persistent congestion continues to impact operations in our key...

Maersk has followed Hapag-Lloyd in upgrading its profit outlook again, as the hopes of shippers for any early return to some form of normalisation are dashed by port congestion and intermodal bottlenecks on the world’s tradelanes. Maersk’s Q2 revenue was $21.7bn, compared with Q1 turnover of $19...