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Union Pacific Corp. reported fourth-quarter profit that missed analysts’ estimates as disruptions from winter storms drove up costs.

A year ago in early January, a record 109 containerships carrying U.S. imports surrounded the twin ports of Los Angeles and Long Beach, Calif. — as of today, the queue is gone.

Labor unrest took an unusually heavy toll on ports around the world in 2022, and the outlook for continued economic instability could bring even more upheaval to global supply chains in 2023.

Since 2020, a pandemic-fueled supply crunch, Russia’s war with Ukraine, and a deepening rift in the U.S.-China trade relationship have hammered home the idea that the world needs more resilient trade networks.

A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict.

FedEx Corp. on Dec. 20 reported fiscal-year, second-quarter income that beat Wall Street expectations and revenue that fell below expectations.

Union Pacific says it will stop imposing temporary limits on certain businesses’ shipments while it reviews the policy that federal regulators and shippers criticized at a hearing in mid-December.

Federal regulators and shippers are questioning Union Pacific’s decision to temporarily limit some businesses’ shipments as part of its effort to clear up congestion across the railroad.

Shippers urged the U.S. railroad regulator to create more competition in the industry during hearings in which Union Pacific Corp. was called to explain a spike in service restrictions.