supply chain disruptions News

Why the Canadian Freight Rail Halt Will Roil North American Supply Chains

Canada’s two main freight rail companies locked out around 10,000 of their Canadian unionized workers early on Thursday, starting an unprecedented simultaneous work stoppage that will grind almost all railway freight movement in the country to a halt. HOW INTEGRATED …

Markets/Coverages: Marsh Launches $50 Million Port Blockage Insurance Facility

Marsh, the insurance broker and Marsh McLennan subsidiary, announced the launch of a first of its kind $50 million port blockage insurance facility, covering shipping ports and terminals around the world. Created by Marsh following the collapse of the Francis …

French Shipping Company CMA CGM Loses 44 Containers in Tough Weather

French shipping and logistics company CMA CGM said on Thursday that its ship “Benjamin Franklin” had lost 44 containers in difficult weather conditions off the coast of South Africa on Tuesday. “No injury to the crew has been reported, no …

German Port Workers Strike Could Cost $6 Billion in Lost Trade: Russell Group Analysis

Port strikes at five key five German ports may cost $6 billion (£4.71 billion) in lost trade according to analysis by Russell Group, a data and analytics company. There is a 24-to-48-hour strike by port workers across the five key …

Key Emerging Risks: Cascading Effects of Natural Disasters, Supply Chain Resilience

Key emerging risks facing global economies, businesses and the re/insurance industry include the cascading effects of natural disasters, the weakening resilience of supply chains and the repercussions of persistent underfunding of healthcare systems, according to Swiss Re’s 12th SONAR — …

Full Repairs to Damaged Red Sea Internet Cables Delayed by Yemen Political Splits

Full repairs to three submarine internet cables damaged in the Red Sea in February are being held up by disputes over who controls access to infrastructure in Yemeni waters. The Yemeni government has granted permits for the repair of two …

Red Sea Disruption to Shipping Could Cut Asia-Europe Capacity by 20%: Maersk

Disruption to Red Sea container shipping is rising, Maersk said on Monday, forecasting this will cut the industry’s capacity between Asia and Europe by up to 20% in the second quarter. Maersk and other shipping companies have diverted vessels around …

Broker Howden Launches Red Sea Cargo War Insurance as Ship Risks Surge

Howden has started offering war risk cargo insurance to cover vessels sailing through the Red Sea against drone and missile attacks as geopolitical tensions escalate in the region, the UK-based insurance broker told Reuters on Tuesday. The cost of insuring …

Taiwan Property Insurers Likely to Remain Profitable Despite Quake Losses: GlobalData

The 7.2 magnitude earthquake that struck Taiwan’s east coast on April 3 caused substantial damage, particularly in Hualien with collapsed buildings and infrastructure disruptions. However, insurers are expected to weather the financial impact well, according to GlobalData, the London-based data …

Panama Canal Drought Could Threaten Global Supply Chains, S&P Says

The severe drought which has forced the Panama Canal, one of the world’s busiest trade passages, to limit daily crossings could impact global supply chains during a period of high demand, S&P Global said on Wednesday. The canal has imposed …