All articles tagged with #shipping containers
An accident at the Port of Long Beach caused approximately 67 shipping containers to spill into the ocean, with no injuries reported. The incident involved the cargo ship Mississippi and led to temporary suspension of operations at Pier G as authorities investigate the cause and assess environmental impact.
The process of removing shipping containers from the Dali, the cargo ship that struck and collapsed the Francis Scott Key Bridge in Baltimore, has begun and is expected to take weeks to complete, with the goal of reopening the Port of Baltimore for marine traffic. Unified Command, comprising various agencies, is overseeing the removal of approximately 140 containers to lighten the vessel so it can be refloated and moved. The debris and vessel removal are crucial for restoring normal capacity access to the port by the end of May.
Shipping containers are being removed from the Dali cargo ship, which collided with the Key Bridge, in an effort to clear the site and reopen the Fort Henry Channel. The vessel had hazardous materials that leaked into the Patapsco River, and the wreckage of the collapsed bridge weighs an estimated 50,000 tons. Marine traffic remains limited, with temporary passageways created for smaller commercial and essential ships, and efforts continue to recover missing construction workers. President Biden visited the site, promising federal support for rebuilding the bridge and expressing solidarity with the affected community.
Crews have begun removing shipping containers from the Dali, the cargo vessel that caused the collapse of the Francis Scott Key Bridge in Baltimore. Efforts are underway to clear the main shipping channel and restore normal capacity by the end of May, with President Biden pledging federal support for the bridge's reconstruction. Three of the six construction workers involved in the incident have been found, while the search for the remaining three continues. Temporary channels have allowed some vessels to pass, but 11 cargo ships, including those supporting U.S. military forces, remain trapped in the port.
Spanish authorities have seized 11 tons of cocaine and arrested 20 individuals in two separate operations targeting the smuggling of illegal drugs inside shipping containers. In one operation, 7,500 kilograms of cocaine were discovered hidden among frozen tuna, with investigators revealing that a criminal organization was using a frozen seafood company as a front to transport the drugs from South America to Spain. In another sting, 3,400 kilograms of cocaine were found in false bottoms of shipping containers in a port in Valencia. Both operations are believed to be linked to criminal organizations from the Balkans region.
Spanish authorities have seized 11 tons of cocaine and arrested 20 individuals in two separate operations targeting the smuggling of drugs inside shipping containers. In one operation, 7,500 kilograms of cocaine were discovered hidden among frozen tuna in the city of Vigo, while in another operation, 3,400 kilograms of cocaine were found in false bottoms of shipping containers in Valencia. The criminal organizations involved were linked to the Balkans region.
Infrastructure fund Stonepeak has agreed to acquire shipping container lessor Textainer Group for $2.1 billion, offering $50 per share in cash, representing a 46% premium to Textainer's closing price on Friday. The deal, including debt, is valued at approximately $7.4 billion and is expected to close in Q1. The agreement includes a 30-day "go-shop" period for Textainer to consider alternative acquisition proposals. Textainer will continue to be led by its current CEO and maintain its headquarters in Bermuda.
Shipping containers from China are piling up in Russia due to a surge in Chinese goods flowing into the country, resulting in a surplus of 150,000 containers that importers are struggling to return. The deepening trade imbalance between Russia and China, particularly in the type of products exchanged, has contributed to this container glut. Bilateral trade between the two countries has risen by 32% in the first eight months of 2023, with China's exports to Russia increasing by 63.2%. The growing trade ties have shifted Russian energy trade eastward and sparked criticism that China's economic support is backing Russia's war on Ukraine.