°®¶¹´«Ã½

The value of global trade is set to reach a new record this year, increasing by about 12% to an estimated $32 trillion, according to a U.N. report that signaled a slowdown heading into 2023.

A.P. Moller-Maersk A/S CEO Soren Skou will step down and will be replaced by Vincent Clerc, the current head of the transport giant’s ocean and logistics business.

The supply backlogs of the past two years — and the delays, shortages and outrageous prices that came with them — have improved dramatically since summer.

The Port of Savannah plans a $410 million overhaul of one of its sprawling terminals to make room for loading and unloading larger ships while focusing its business almost exclusively on cargo shipped in containers.

While the worst of the global supply chain snarls brought on by the COVID-19 pandemic now appear to be in the rearview mirror, it’s still not business as usual for international freight.

U.S. trucking is entering a tumultuous period that will likely reshape the $875 billion industry. Shipping rates that spiked during disruptions caused by the pandemic have plummeted as inventory gluts across the U.S. lowered demand.

Two members of the Federal Maritime Commission praised the growth, diversity and import-export balance of the Port of Mobile during a visit on Nov. 16.

FedEx Corp.’s freight unit is putting workers on furlough in some U.S. markets, adding to mounting evidence of a cargo slowdown as the company joins other large employers trimming their ranks.

The impact of the COVID-19 pandemic followed by supply chain disruptions around the world has sparked a resurgence of companies bringing sourcing and manufacturing back to the United States or closer to U.S. shores.

Seaports and airports across North America experienced record-breaking volume in 2021 amid growing consumer demand.