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Ocean freight rates to drop in February after ceasefire

AJOT | January 31, 2025 | Maritime | By The Numbers

Latest data from Xeneta – the leading ocean and air freight intelligence platform – shows average spot rates from the Far East stand at USD 3 795 per FEU (40ft container) into North Europe and USD 5 085 per FEU into the Mediterranean – down 22% and 13% respectively since 1 January.

Lawmakers urge Trump to consider new curbs on Nvidia chips used by China’s DeepSeek

Reuters | January 31, 2025 | International Trade

Two members of U.S. Congress are calling on President Donald Trump's administration to consider restricting the export of artificial intelligence chips made by Nvidia, alleging Chinese AI firm DeepSeek has relied on them.

Ports & Terminals

Reuters | Top Story | January 31, 2025

Rubio warns of risk of China shutting down Panama Canal in any conflict

Secretary of State Marco Rubio said on Thursday he had "zero doubt" that China has a contingency plan to shut down the Panama Canal in the event of a conflict with the U.S. and that Washington intends to address what it sees as a national security threat.

International Trade

Reuters | Top Story | January 31, 2025

Facing Trump tariffs on piglets and crops, Canadian farmers revise sales plans

Canadian farmers are renegotiating livestock contracts with U.S. buyers and finding local markets for crops they previously planned to sell south of the border to minimize the economic hit from potential new U.S. tariffs.

Air Cargo

Reuters | Top Story | January 31, 2025

Investigators find black boxes after deadly Washington plane crash, continue search for answers

U.S. authorities said on Thursday it was not yet clear why a regional jet and a U.S. Army helicopter collided at a Washington airport, killing 67 people in the deadliest U.S. air disaster in more than 20 years.

Orsted replaces CEO as offshore wind industry struggles

Reuters | January 31, 2025 | Energy | Alternative

Orsted Chief Executive Mads Nipper will step down to be replaced by company insider Rasmus Errboe, the world's biggest offshore wind developer said on Friday, as it seeks to arrest an 83% slump in its share price since its 2021 peak.

US official vows to ‘fix’ FAA after fatal collision

Reuters | January 31, 2025 | Air Cargo | Airports

U.S. Transportation Secretary Sean Duffy said late on Thursday he will soon announce a plan to reform the Federal Aviation Administration (FAA) after a devastating collision between an American Airlines regional plane and an Army helicopter killed 67 people.

Suez Canal Authority says stability returning to Red Sea

Reuters | January 31, 2025 | Ports & Terminals | Canal and Waterway

Suez Canal Authority Chairman Osama Rabie has told shipping giant AP Moller-Maersk there are signs of stability returning to the Red Sea, and urged the company to take that into account when planning sea routes, according to a statement from the SCA.

North America braces for new Trump tariffs as Saturday deadline nears

Reuters | January 31, 2025 | International Trade

Companies, consumers and farmers across North America braced on Friday for U.S. President Donald Trump to impose 25% tariffs on Canadian and Mexican imports within hours, moves that could disrupt nearly $1.6 trillion in annual trade.

No Fed rate cuts in sight as inflation stalls above target, warns deVere

AJOT | January 31, 2025 | International Trade

Moody’s Ratings upgrades Canaveral Port Authority’s revenue bonds to A2, ‘stable’ outlook

AJOT | January 31, 2025 | Ports & Terminals | Ports | By The Numbers

Moody’s Ratings has upgraded the Canaveral Port Authority’s revenue bonds to A2 and stable outlook as part of its annual Credit Opinion, noting that “the credit profile of Port Canaveral benefits from the Port’s position as the second busiest cruise port in the world and the strong cruise demand.”

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