Oil climbed to the highest in almost two weeks as traders looked ahead to this week’s OPEC+ meeting with speculation that renewed demand concerns will spur the group to keep production in check.
March 29, 2021Logistics 100 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Extras
Oil Rises for Second Day With Focus Moving Toward OPEC+ Meeting
World’s Other Major Shipping Pileup Is Still Clogging Trade
Ship congestion outside the biggest U.S. gateway for Asian imports worsened from a week ago, highlighting a headwind facing American companies just as a pileup around the Suez Canal had threatened to tangle Europe’s supply chains.
Cargo Ship Stuck in Suez Canal Finally Dislodged
SUEZ, Egypt — Workers have successfully set free a colossal containership that for nearly a week has been stuck sideways across the Suez Canal, one of the world’s most crucial arteries for trade, a canal service provider said.
NYC-N.J. Tunnel Plan Has ‘Sense of Urgency,’ Buttigieg Says
The Biden administration is prioritizing the Gateway rail tunnel project between New York City and New Jersey with urgency because of its “national significance” to the economy, Transportation Secretary Pete Buttigieg told lawmakers.
Blocked Suez Canal Compounds Stress to Supply Chains
Dislodging the container vessel blocking the Suez Canal will take until at least March 31, a longer effort than initially feared that will amplify the disruption to global supply chains for everything from oil to grains to cars.
March 26, 2021Infrastructure Plan Coming March 31, Biden Says
President Joe Biden said he will unveil his long-term economic rejuvenation plan March 31, promising a new “paradigm” for the middle class and a major ramp-up in investment and infrastructure spending that will strengthen the U.S. position against China.
Suez Canal Choked for Third Day as Elite Team Tackles Stuck Ship
A huge backlog of ships was building up around the Suez Canal for a third day as an elite salvage team set about the monumental challenge of freeing the container vessel that’s blocking the crucial waterway.
XPO Opening Automated Logistics Facility in Indiana
XPO Logistics will open an automated logistics facility in Clayton, Ind., at one of the state’s major logistics hubs in Hendricks County. The new facility is expected to employ 800 people and become fully operational sometime this summer, according to XPO.
Canadian Pacific-Kansas City Southern Merger Will Create 'Transformative' Network
Canadian Pacific Railway Ltd. envisions a “transformative” remaking of its freight-rail business after an announced merger with Kansas City Southern Railway that will create the first U.S.-Mexico-Canada network.
Maersk Can’t Find Enough Women to Pursue Top Jobs
The chairman of A.P. Moller-Maersk A/S, Jim Hagemann Snabe, said it is proving difficult to get enough women to apply for top management jobs at the world’s biggest container-shipping company.