Through the first ten months of 2023, the Port has processed 7,123,900 TEUs, which represents a 16.6% drop-off when compared to the same period in 2022.

While the impact of the Israel-Hamas war has been contained so far, markets have been wary that the fighting will draw in other nations in the region, particularly Iran.

It is crucial for businesses to adapt and seize emerging opportunities. One such opportunity that has been flying under the radar is Small-Move Management.

The Port of Colombo has been operating near its capacity since 2021, meaning the new terminal will enable the continued growth of economies located in the Bay of Bengal.

Those interviewed said they expect a rebound during the second half of 2024 with half of the participants saying they believe freight volumes will increase by 5% during that period.

ONE now has a presence in Northern Europe, Southeast Asia and the West Coast of the U.S. following these recent acquisitions.

Officials for the Biden administration said the projects will allow ports to meet increased shipping demands while improving worker safety and lowering costs for consumers.

The agreement is set to be ratified by employees in the coming days, but workers are set to return to work on the morning of October 30.

Negotiations between the sides broke down during the weekend of October 21, which led to about 360 workers walking off the job shortly after midnight on October 22.

Despite the rises in monthly volumes, the total for the first nine months of 2023 was 6,398,126 TEUs, an 18.6% decrease from the same period last year.