Discount retailer Dollar Tree Inc. is trying to ramp up its supply chain to match its ambitious expansion plans. The company plans to spend more to improve its supply chain as it increases the use of data analytics and automation to get more goods more efficiently and quickly to its more than 16,000 Dollar Tree … Read more
Sovcomflot has sold about a dozen ships to buyers in Asia and the Middle East, according to people familiar with the matter, as the Russian state-controlled company works to repay loans to Western banks ending business ties to comply with sanctions. The company, among the world’s largest tanker operators, sold five tankers to Dubai-based Koban … Read more
Two of shipping’s biggest names, Norway-based Frontline Ltd. and Belgium’s Euronav NV, have agreed to merge in a move that would create one of the world’s biggest tanker owners. The all-stock deal announced Thursday, which has been approved by both the companies’ boards, involves an exchange of 1.45 Frontline shares for each Euronav share. The … Read more
The world’s biggest container ship operators—A.P. Moller-Maersk A/S and Mediterranean Shipping Co.—said they would temporarily suspend services to Russian ports, including those far from the conflict in Ukraine. Maersk said Tuesday it was halting bookings in light of the sanctions imposed on Russia, including congestion being caused by customs authorities inspecting cargo bound for the … Read more
Container ship operators and big importers like IKEA and Walmart Inc. will soon negotiate freight rates that could affect the prices consumers pay for everything from jeans to cars. Yearlong freight contracts, which contribute up to three-quarters of annual revenue for ship operators, will largely be settled at the TPM conference in Long Beach, Calif., … Read more
Danish container-ship giant A.P. Moller-Maersk AMKBY -1.62% A/S said it expects supply-chain bottlenecks to last until June and sealed a $1.68 billion deal to help shore up its inland distribution business. Maersk, which moves 17% of the world’s shipping containers on its vessels, said Wednesday that the buyout of U.S.-based Pilot Freight Services will bolster … Read more
Mark Boone grudgingly accepted that the cost of shipping a container of wax melters from Pakistan to Charleston, S.C., doubled in the past year to more than $17,000. But the shipping line’s extra $6,820 fee in December for a single container that U.S. Customs and Border Protection pulled aside for inspection for 20 days fell … Read more
The Covid-19 Omicron variant is hampering efforts to clear a backlog of about 100 container ships at the nation’s busiest port complex as infections rise among Southern California dockworkers. About 800 dockworkers—roughly 1 in 10 of the daily workforce at the ports of Los Angeles and Long Beach—were unavailable for Covid-related reasons as of Monday, … Read more
BEIRUT—A large fire broke out Thursday at Lebanon’s main port, near the site of last month’s massive explosion that devastated a swath of the country’s capital and killed nearly 200 people. Lebanese living in the vicinity of the port rushed to get away as firefighters tackled the blaze at a warehouse. The army said the … Read more
A commercial tanker has been anchored in the Mediterranean Sea with 27 rescued African migrants aboard for more than a month, caught in a stalemate as ports in the region refuse to allow the Maersk Etienne to dock. The migrants, including a pregnant woman and a child, have remained on board under worsening conditions since … Read more