Maersk CEO Comments On Continued Impact Of Red Sea Crisis

The Red Sea crisis is stretching into the third quarter of 2024, continuing to put a strain on container ships that are being forced to temporarily divert and take longer routes. 

Conflict in the area began in October 2023, and by December 2023 container ships in transit through the Red Sea/ Gulf of Aden were being attacked. Maersk was one of the shipping companies to experience an attack when its vessel, the Maersk Hangzhou, was hit by an unknown object while passing through the Bab al-Mandab Strait from...

Overseas Shipholding Group Enters Into A Definitive Agreement To Be Acquired By Saltchuk Resources

Overseas Shipholding Group, Inc., a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products primarily in the U.S. Flag markets, and Saltchuk Resources, Inc. (“Saltchuk”), a privately owned family of diversified freight transportation, marine service, and energy distribution companies, today announced that they have entered into a definitive merger agreement pursuant to which Saltchuk has agreed to acquire OSG in a transaction that values the Company at an aggregate equity...

Podcast: Agri-Food for Thought Ep 8 - Global Supply Chain Situation

Sheer Logistics Acquires CargoBarn

Sheer Logistics, a premier provider of 4PL/Managed Transportation Services, value-based logistics, freight brokerage, TMS technology and Integration Platform as a Service (IPaaS) solutions purpose-built for mid-market companies, today announced the acquisition of CargoBarn, a tech-enabled third-party logistics provider (3PL) based in Atlanta, GA. CargoBarn provides full Truckload freight brokerage, expedited, drayage, and other specialized services. The acquisition will enhance Sheer's existing 3PL and freight brokerage offerings through the addition of CargoBarn's diverse and complementary customer portfolio, extensive carrier network, highly experienced sales and operations teams, and geographic footprint...

Cargill Shares Outcome of the World’s First Wind-Powered Ocean Vessel’s Maiden Voyage

Cargill today revealed exciting results of the six-month test period of the Pyxis Ocean, underscoring the potential for the wind assisted propulsion technology in moving the shipping industry toward renewable energy use. The MC Shipping Kamsarmax vessel retrofitted with two WindWings® -large solid wind sails developed by BAR Technologies - - has achieved performance consistent with what was predicted which is equivalent to an average of 3 tonnes of fuel per day.

“We are encouraged by the results and have learned a great deal about...

Two US-flagged Maersk Ships Turn Around in Red Sea After Explosions

Shipping company Maersk said on Wednesday two U.S.-flagged vessels transiting the Bab el-Mandeb strait northbound had turned around after seeing explosions nearby.

The vessels and crew were unharmed and were being escorted back to the Gulf of Aden by the U.S. Navy, Maersk said.

Maersk Says All Vessels Due to Transit the Red Sea Will Be Diverted For ‘Foreseeable Future’

Despite warnings from the U.S. and other countries to cease attacks, the Houthi rebels show no signs of stopping. Shipping company Maersk says that as the situation continues to evolve and “remains highly volatile,” they have made the decision to divert all Maersk vessels that are due to transit the Red Sea/ Gulf of Aden for “the foreseeable future.” Vessels that were due to travel through the Red Sea will continue to be diverted south around the Cape of Good Hope.

“We understand...

Hapag-Lloyd Continuing to Explore Solutions As Attacks on Red Sea Vessels Continue

Hapag-Lloyd is just one of the shipping and container transportation companies dealing with the fallout of the ongoing Houthi rebel attacks in the Red Sea. The German company confirmed earlier this week that they would be diverting its vessels away from the Suez Canal/ Red Sea until at least January 9. Now the company has released a new update, confirming that they are continuing to avoid the Red Sea route “for the safety of our crew and cargo.”

As SeafoodNews previously reported...

Maersk Pauses All Transit Through the Red Sea/ Gulf of Aden Following Attack on Vessel

Logistics company Maersk announced on Tuesday that they will be pausing all transit through the Red Sea/ Gulf of Aden “until further notice.” The decision follows an attack on the company’s vessel, the Maersk Hangzhou, which occurred on December 30.

“An investigation into the incident is ongoing and we will continue to pause all cargo movement through the area while we further assess the constantly evolving situation,” the company said in a statement today. “In cases where it makes most sense for our customers...

US-led Forces in Red Sea will be Defensive ‘Highway Patrol’

The longer container lines detour from the Red Sea around the Cape of Good Hope, the more vessel capacity will be soaked up, and the higher freight rates will go. Rates are already rebounding. New surcharges just announced by ocean carriers imply freight costs are headed higher still.

Container lines have a perfectly valid reason to avoid going through the Bab-el-Mandeb Strait from a corporate governance perspective: They cannot guarantee the safety of their seafarers, ships or cargo due to indiscriminate attacks by Yemen’s Houthi rebels...