March and April are critical months for ocean carriers looking to ink annual freight contracts with shippers, including the world’s biggest retailers, but this year contract season is turning into a waiting game. The $2,500 spread between spot market rates and long-term freight contract rates for Asia to U.S. West Coast containers has reached its … Read more
Ingrid — a startup out of Stockholm, Sweden, not this writer (unfortunately) — has raised €21 million, or just under $23 million, to fuel the growth of a business aiming to improve the last, messy mile of online shopping, delivery. Using data science and some big ideas about how delivery will evolve in the years … Read more
The Toronto Express container ship, operated by Hapag-Lloyd AG at the Port of Hamburg in Hamburg, Germany, on Wednesday, Dec. 20, 2023. Maria Feck | Bloomberg | Getty Images Rolf Habben Jansen, CEO of Hapag-Lloyd, the world’s fifth-largest ocean carrier, tells CNBC he has an improved view on trade for the rest of 2024. Conversations … Read more
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Target is launching Target Circle 360, a $99 annual subscription that will offer free, unlimited delivery and rush shipping on online orders. First announced during Target’s earnings call on Tuesday, the new plan will rival similar offerings by Walmart and Amazon that axe shipping costs for an annual fee. Target Circle 360 members will receive … Read more
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Ford has halted shipments of the new 2024 F-150 Lightning electric truck as of February 9th while it carries out quality inspections. Several outlets reported the pause on Friday, but none could say what prompted the check. In the meantime, Ford is still manufacturing the Lightning at the Rouge Electric Vehicle Center in Dearborn, Michigan, … Read more
The battle for the freedom of navigation in the Red Sea has expanded with the entrance of a European Commission naval defense effort in the past week, and more U.S. and allied strikes against Houthi land targets over the weekend, but to date, combined military efforts have not deterred rebel attacks. On Saturday evening, United … Read more
A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. Fareed Kotb | Anadolu | Getty Images The world’s largest shipping company, MSC, and several retail and trade experts warned Congress on Tuesday that if the Red Sea chaos caused by Houthi rebel attacks … Read more
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Qi2 (properly Qi v2.0 MPP, for Magnetic Power Profile) is a new magnetic wireless charging standard that can charge compatible devices at up to 15W. Like Apple’s MagSafe, it uses rings of magnets in both device and charger to ensure proper alignment of the charging coils, and it’s based on the Qi wireless charging standard … Read more
Containers are piled up in Lisbon, Portugal, on January 13, 2024. Recent U.S. and UK air strikes on Yemen are causing global shipping rates to spike, sparking fears of extended disruptions in the Red Sea, a crucial trade route. The strikes are a response to attacks on the Red Sea, adding complexity to the regional … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Vessels transiting the Red Sea have faced attacks over the past several weeks from Yemen-based Houthis, prompting shipping companies to change routes, leading to a spike in freight rates. … Read more