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Commentary: Navigating risk
After the chaos of the pandemic years, 2023 brought a sense of normalcy and familiar market dynamics. By December, however, the industry was reminded of the fragility of global trade. Low water levels constrained transits at the Panama Canal, and the Suez Canal became virtually impassible by global container carriers due to terrorist attacks. As […]
Zim announces $30M expansion
Zim American Integrated Shipping Services Co. LLC will invest $30 million to expand its U.S. headquarters in Virginia Beach, creating several hundred jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. The expansion includes a move from Norfolk, where the company has had its U.S. headquarters since 2001. Zim is a publicly-held subsidiary […]
Choppy waters for ocean shipping
What a difference a year makes. In March 2022, ocean freight rates were at record highs, with capacity straining under the weight of historic U.S. import demand. High inventories and economic uncertainty prompted importers to pull back over the summer months, and volumes slowed. A spectacular rate collapse in the ocean freight market from Asia […]
