Shipping insurance costs across the Black Sea are skyrocketing

LONDON, Feb 25 (Reuters) – Insurers have raised the cost of cover for merchant ships crossing the Black Sea, adding to soaring freight rates in the region for vessels still ready to sail after the invasion of Ukraine by Russia. Shipowners pay war risk insurance annually as well as an additional “infraction” premium when entering … Read more

EXCLUSIVE Tesla halts most production at Shanghai factory, sales plummet in April

Chinese-made Tesla Model 3 vehicles are seen during a delivery event at the carmaker’s factory in Shanghai, China January 7, 2020. REUTERS/Aly Song Join now for FREE unlimited access to Reuters.com Register Plant will produce less than 200 cars on Tuesday – memo Factory halted work due to supply issues – sources China’s COVID policies … Read more

CEO leads electric truck startup Rivian through supply chain twilight zone

NORMAL, Ill., April 18 (Reuters) – Rivian Automotive Inc (RIVN.O) CEO RJ Scaringe needs to sell a lot more electric vans and pickups to drive the stock price higher and fund his ambitious long-term growth plans, but the startup is struggling to buy the parts to build them. Scaringe can’t get all the semiconductors Rivian … Read more

Shipbuilding in China for Taiwanese firm likely helps bolster Chinese navy – US think tank

A crane lifts an Evergreen Marine container at the port of Kaohsiung, Taiwan August 7, 2017. REUTERS/Tyrone Siu Join now for FREE unlimited access to Reuters.com Register WASHINGTON, April 7 (Reuters) – Contracts between China’s top state-owned shipbuilding company and Taiwan’s top shipping company are likely to cut costs for modernizing China’s navy, raising security … Read more

Walmart raises pay for US truckers to $110,000, launches recycling program

LOS ANGELES, April 7 (Reuters) – Walmart (WMT.N) said it was increasing starting pay for its 12,000 long-haul truck drivers who deliver goods to its stores and Sam’s Clubs locations amid a US driver shortage that threatens to prolong grumbling supply chain and commodity shortages. Qualified drivers – who tend to be between 40 and … Read more