The Maritime Executive writes that Oldendorff Carriers will fit the first rotors on a bulker used to haul coal from Canada. They report: Oldendorff Carriers, one of the leading operators of bulk carriers, is joining the growing ranks of shipping companies adopting wind rotors on bulkers to improve operating efficiency and reduce emissions. The company has participated in several studies looking at the potential of wind-assisted propulsion and the use of rotors and now has ordered its first installation. They report by mid-2024 one of its post Panamax vessels will be fitted with a rotor … [Read more...]
Smart Phone Production Shifting Away from China
By xiaoliangge @Adobe Stock Rajesh Roy and Yang Jie of The Wall Street Journal are reporting that supplier Foxconn plans to build more factories and give India a production role once limited mostly to China. They write: Apple and its suppliers aim to build more than 50 million iPhones in India annually within the next two to three years, with additional tens of millions of units planned after that, according to people involved. If the plans are achieved, India would account for a quarter of global iPhone production and take further share toward the end of the decade. China will remain … [Read more...]
Panama Canal Logjam: Ships Seeking Alternate Routes
Ships are finding alternate routes to avoid the Panama Canal log jam, in which wait times averaged about 15 days or more, reports Sam Chambers of Splash 247.com. He writes: Global shipping has swiftly learned to live without the Panama Canal with real-time seaborne trading maps experiencing one of the greatest and swiftest shifts over the past month. The transit backlog at the interoceanic waterway today numbers just 77 ships, 13 below the average since the 2016 expansion of the locks, and down by more than 50 vessels in the space of just a fortnight. For those in the queue, however, wait … [Read more...]
Cracks in China’s Belt and Road Initiative Surface
Laurance Norman and Kim Mackrael of The Wall Street Journal are reporting that tensions over Ukraine and trade have grown between the EU and China as leaders set to meet in Beijing. Italy has formally withdrawn from the Belt and Road Initiative, the latest European country to do so. They write: European Union leaders plan to warn Chinese leader Xi Jinping that the bloc is prepared to impose new sanctions and trade penalties on his nation unless it acts to address economic frictions and rein in exports to Russia of goods used for its war in Ukraine, EU officials said before a summit … [Read more...]
Unstoppable Chinese E-Commerce Giant Faltering
An e-commerce giant is losing its lead, reports Raffaele Huang and Liza Lin of The Wall Street Journal. They write: Chinese internet titan Alibaba (BABA) Group Holding once seemed invincible. Now, it is stuck in a slump. The e-commerce giant was a major driver of China’s growing consumer economy as it pioneered online shopping in China. Over the years, it also expanded into cloud computing, physical supermarkets and digital entertainment. Now, its grip on online retail is weakening. In recent months, the company lost a long-running chief executive, while a restructuring plan to revive … [Read more...]
Panama Canal Traffic Jam Could Soon Affect Global Energy Markets
Megha Mandavia of The Wall Street Journal is reporting that in the troubled waters of the Panama Canal, gas carriers—and their investors—are reaping bumper profits. Winter fuel prices could get a little wacky. She writes: Climate change may be making winters more unpredictable. It could make your winter heating bills more unpredictable too, particularly if you live at the end of long and vulnerable fuel supply chains. The price of liquefied petroleum gas, a significant U.S. export, has rocketed higher recently in Asia, a remarkable development given that crude oil prices have been falling. … [Read more...]
Signs the Job Market Is Weakening
By Stephen VanHorn @Adobe Stock Austen Hufford of The Wall Street Journal is reporting that available jobs fell in October to the lowest level since early 2021. He writes: The hot labor market that underpinned a surprisingly strong economy this year is showing signs of cooling, an indication that growth could ease in 2024. The number of available jobs at the end of October was the lowest since March 2021, the Labor Department said Tuesday. Fewer openings come as the unemployment rate has edged higher this year, Americans are taking longer to find new jobs, and wage growth is … [Read more...]
Ruling: Major Egg Producers Conspired to Drive Up Prices
Chris Casey of Supply Chain Dive is reporting that an Illinois federal jury found Cal-Maine and other egg giants liable for limiting the supply of the protein in 2004-2008 to drive up costs. He writes: A unanimous jury ruled that multiple major egg producers conspired to fix the price of the commodity between 2004 and 2008. The decision last month delivered a major victory to food giants such as Kraft Heinz and Nestlé. In the initial lawsuit filed in the Northern District of Illinois in 2011, numerous food giants including Nestlé, Kraft, General Mills and Kellogg alleged egg producers … [Read more...]
Can China Save Itself from a Debt Collapse?
Moody's has cut its outlook to negative on China's debt. Will a new round of stimulus save China from a debt implosion? Weilun Soon reports in The Wall Street Journal: China’s mounting local government debt woes are putting pressure on the country’s credit ratings. Moody’s Investors Service lowered its outlook for China’s credit rating from stable to negative on Tuesday, warning that the financial stresses of some regional and local governments will require Beijing to provide support to them. That could weigh on China’s government finances at a time when its economy is slowing. The … [Read more...]
Companies Scoop up Truck Terminals at Yellow’s Bankruptcy Auction
A court-supervised sale raised $1.9 billion for about 130 properties, with dozens more sites still on the block reports Paul Berger of The Wall Street Journal. He writes: Yellow is set to raise more than $2 billion after a bankruptcy auction that will disperse much of its national network of truck terminals among rivals, casting deeper doubt on a long shot bid to revive the trucker. About a dozen trucking companies bought properties at a court-supervised auction that unloaded 75% of Yellow’s properties for a total of just under $1.9 billion, according to a filing Monday evening in the U.S. … [Read more...]
- « Previous Page
- 1
- …
- 21
- 22
- 23
- 24
- 25
- …
- 106
- Next Page »