Global Freight

A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict.

FedEx Corp. on Dec. 20 reported fiscal-year, second-quarter income that beat Wall Street expectations and revenue that fell below expectations.

Union Pacific says it will stop imposing temporary limits on certain businesses’ shipments while it reviews the policy that federal regulators and shippers criticized at a hearing in mid-December.

Federal regulators and shippers are questioning Union Pacific’s decision to temporarily limit some businesses’ shipments as part of its effort to clear up congestion across the railroad.

Shippers urged the U.S. railroad regulator to create more competition in the industry during hearings in which Union Pacific Corp. was called to explain a spike in service restrictions.

The value of global trade is set to reach a new record this year, increasing by about 12% to an estimated $32 trillion, according to a U.N. report that signaled a slowdown heading into 2023.

A.P. Moller-Maersk A/S CEO Soren Skou will step down and will be replaced by Vincent Clerc, the current head of the transport giant’s ocean and logistics business.

The supply backlogs of the past two years — and the delays, shortages and outrageous prices that came with them — have improved dramatically since summer.

The Port of Savannah plans a $410 million overhaul of one of its sprawling terminals to make room for loading and unloading larger ships while focusing its business almost exclusively on cargo shipped in containers.

While the worst of the global supply chain snarls brought on by the COVID-19 pandemic now appear to be in the rearview mirror, it’s still not business as usual for international freight.