Container spot rates rocket even higher as Red Sea crisis drags on

It’s now crystal clear that container ships will not return to the Red Sea anytime soon. Lengthy detours around the Cape of Good Hope have already pushed spot container rates far above pre-COVID levels, and rates continue to climb. Yet another commercial ship was hit by Houthi rebels on Wednesday, the bulk carrier Genco Picardy,…

State of Freight takeaways: Impacts of the deep freeze; data looking up

January’s State of Freight Webinar shifted to a virtual format Thursday, as frozen roads in Chattanooga, Tennessee, kept the two regular participants away from FreightWaves’ headquarters. That deep freeze is a situation much of the middle of the country finds itself in — and one that may be impacting freight markets as well. That was…

Venture capital continues to flow into FreightTech startups

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…