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WASHINGTON — Legislation that could shut down a port’s container operations for an alleged security risk is misleading and misguided, according to the American Association of Port Authorities. The Port Crane Security and Inspection Act of 2023, introduced Wednesday by U.S. Reps. Carlos Gimenez, R-Fla., and John Garamendi, D-Calif., would require federal authorities to inspect…
Sanctions continue to work: Russian crude and diesel exports are still going strong, helping to keep world energy markets supplied, while steep price discounts are curbing revenues to Russia’s government. Sanctions are also working for tanker owners. The shipowners bold enough to carry Russian oil and diesel have emerged as bigger winners, earning higher freight…
Although some once-high-flying FreightTech firms folded in 2023 and others are cutting staff, some supply chain-related technology startups continue to secure venture capital and funding deals. Sayari, a supply chain risk intelligence provider, recently announced private equity firm TPG is making a $228 million strategic majority investment in the company. Meanwhile, global supply chain-focused startups…
Azerbaijan-based Silk Way West Airlines said Monday it has added a sixth 777 freighter to its order from Boeing. The all-cargo carrier has received two of five Boeing 777 freighters it committed to purchase in 2021. The new order is scheduled for delivery in 2025, and the rest are expected to arrive by 2027. Silk…
Former employees and truck drivers for FreightWorks LLC claim the Rutherfordton, North Carolina-based truckload carrier violated federal law by failing to give a 60-day advance notice of a planned shutdown before firing nearly 200 workers on March 6. The two named class representatives, Martin Oshea and Misty Chapman, along with 18 named plaintiffs, filed a…