Powerful typhoon makes landfall with Shanghai in direct path
Typhoon Muifa made landfall on China’s heavily populated eastern coast, bringing strong winds and heavy rain as it barreled toward Shanghai.
Excessive ocean carrier profits at risk as rapid decline in spot rates prompts renegotiation of contract rates
• Spot Freight rate = The freight rate charged by the carriers from port to port on a spot basis, (non-contract basis). • Transit time…
XPO Logistics announces Weisfeld as chief strategy officer for RXO spin-off
XPO Logistics, Inc., a leading provider of freight transportation services, today announced that Jared Weisfeld will become chief strategy officer of RXO, the planned spin-off…
Imported goods drive Ghana inflation to 21-year high
Ghana’s inflation rate climbed to the highest level in 21 years in August as the price of imported goods continued to surge, fueled by a…
Australia’s Rex eyes nationwide air network as Qantas struggles
Australian airline Rex plans to add more Boeing Co. 737s within months, giving it enough jets for a nationwide network of intercity routes as it…
Europe gas jumps as bloc unveils energy intervention plan
Natural gas prices in Europe jumped after the European Commission unveiled an energy intervention plan that its president said could raise more than 140 billion…
Rail strike threat is set to halt shipments of US crops, autos
US railroads are poised to stop shipments of farm products and other key goods starting Thursday as the industry braces for a possible labor strike…
Russia earns less despite higher August oil flows, IEA says
Russia’s oil-export revenue contracted to $17.7 billion in August, the lowest since at least March, as a decline in crude prices more than offset higher…
EU starts talks with Norway to try to cut the price of gas
The European Union is in talks with energy powerhouse Norway as part of its efforts to cut the price of gas and tame the damage…
Germany sells full stake in Lufthansa at $760 million profit
Germany raised 760 million euros ($760 million) from the sale of the state’s full stake in Deutsche Lufthansa AG, unwinding all of the holding it…
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