Economy

  • Drop in box shipping contract rates points to 'a recession of seismic proportions'

    Mar 31, 2020 — Long-term container shipping contracts have registered their first pricing decline since last October, prompting fears that the industry is heading towards “a recession of seismic proportions”.
  • Call to 'designate seafarers as key workers' to keep supply chains moving

    Mar 23, 2020 — In a joint letter to the the UN, the International Chamber of Shipping (ICS) and the International Transport Workers’ Federation (ITF) say the world’s governments must ensure ports remain open, while facilitating crew changes with as few obstacles as possible.
  • DeSantis activates Florida Small Business Emergency Bridge Loan Program

    Mar 18, 2020 — Florida business owners with two to 100 employees can apply for short-term interest-free loans of up to $50,000.
  • Truckers, executives worry about a macro-recession

    Mar 17, 2020 — Across the board, trucking executives are sounding the alarm on how coronavirus will affect their business, according to the Bank of American Truck Shipper Survey released Friday.
  • Coronavirus wipes away 1.7m teu of liner business

    Feb 25, 2020 — The coronavirus is set to wipe a “chilling” 1.7m teu of container business, according to new research from Copenhagen-based Sea-Intelligence. The 1.7m teu loss is equal to 1% of the total global volume in 2019, meaning the virus is thus far on track to reduce global container growth in 2020 by 1 percentage point.