The journey of a package is a complex relay race. A product travels thousands of miles across oceans on massive container ships, flies through the sky on cargo planes, and rides in semi-trucks along interstate highways. Yet, the most complicated, expensive, and critical part of this entire journey is the final stretch: the short trip … Read more
London — The U.S. military’s Central Command repeated an assertion on Tuesday evening that has been made by the Trump administration many times over the last two weeks, insisting that “despite Iranian aggression, the Strait of Hormuz remains open for commercial vessel traffic.” CENTCOM acknowledged in the same statement that Iran had launched more than 30 … Read more
NEWYou can now listen to Fox News articles! President Donald Trump said Tuesday the U.S. would “take care of things” if Yemen’s Iran-backed Houthis follow through on threats to impose a naval blockade against Saudi Arabia, as his administration reportedly backed Riyadh’s renewed military campaign against the group. His comments came after the Houthis announced … Read more
NEWYou can now listen to Fox News articles! Iran’s latest attacks on commercial shipping came just as the United States and Oman were beginning to steer more vessels through a new southern shipping corridor hugging Oman’s coastline — an alternative route designed to move traffic farther from Iran’s immediate reach. Former U.S. military commanders and … Read more
Updated 8m ago Oil prices near pre-war level Brent crude, the international standard, fell 3.8% to $73.87 a barrel. It has been trading below $80 in recent days but is still above the roughly $70 per barrel it was trading at in late February before the war began. U.S. crude prices fell 3.9% to … Read more
Major shipping companies still see transiting the Strait of Hormuz as “very risky” and say there’s little appetite to resume normal operations through the vital waterway until more details of the U.S.-Iran deal become clear. Multiple companies say firm security guarantees are needed, despite an assurance from President Trump of a “totally safe, secure, and … Read more
The Trump administration on Wednesday placed additional sanctions on Iran as part of a sprawling economic pressure campaign during the war, this time targeting the country’s newly created agency that is trying to control shipping through the Strait of Hormuz. The sanctions were announced late Wednesday after U.S. forces carried out strikes on an Iran … Read more
Seven Chinese executives and four of the largest shipping container manufacturers were criminally charged in an antitrust case alleging they engaged in illegal price fixing during the pandemic six years ago, federal prosecutors announced on Tuesday. The indictment, which was first reported by CBS News, marks the latest in a series of investigations by the … Read more
U.S. probing whether Chinese companies cut shipping container production before COVID-19 pandemic – CBS News Watch CBS News Investigators are looking into Chinese firms that allegedly slowed shipping container production in 2019, just before the COVID-19 pandemic erupted. CBS News’ Jake Rosen has more. Source link
Federal authorities are examining whether Chinese companies deliberately restricted the world’s production of storage containers for the shipping trade just before the COVID-19 pandemic began six years ago, sources with knowledge of the probe told CBS News. Investigators have been looking at a handful of Chinese firms that together control the majority of unrefrigerated shipping … Read more