Trade & Supply Chains

Kazakhstan has agreed to increase natural gas imports from Russia to 11 billion cubic meters in 2026, up from 4 bcm in 2025, under a new supplementary agreement with Gazprom. Domestic demand in Kazakhstan is surging despite record domestic production of 68.1 bcm in 2025. The purchase price is likely discounted because Russia needs revenue for its war effort in Ukraine and has lost European markets. A US sanctions bill passed on September 16 could disrupt these import plans and expose Central Asian entities to secondary sanctions. Uzbekistan is following a similar strategy of importing cheap Russian gas while exporting its own gas at higher prices, though its domestic production is declining rapidly.

President Donald Trump has imposed Section 232 tariffs on a broad range of imports, citing national security grounds. The tariffs cover steel, aluminum, copper, autos, trucks, timber, furniture, pharmaceuticals, semiconductors, drones, polysilicon, and other products, with rates ranging from 10 percent to 100 percent. The Council on Foreign Relations analysis shows that while the stated aim is to counter Chinese competition, the tariffs heavily affect U.S. allies including Canada, Mexico, the European Union, Japan, and South Korea. Carve-outs and preferential rates exist for certain countries and products. The United States relies on imports for substantial portions of many of these goods, with supply chains concentrated among a small number of countries.

Seven young trade leaders selected from over 1,300 applicants met with the WTO Director-General at the WTO Public Forum in September 2026. They discussed AI's potential to reshape trade systems, the need to account for impacts on developing economies and the environment, and how young people can contribute to services trade in technology, education and public health. The leaders are participating in a year-long programme combining mentorship, training and community engagement.

U.S. Customs and Border Protection will begin processing refunds in October for certain tariffs enacted under the International Emergency Economic Powers Act (IEEPA) and invalidated by the Supreme Court in February 2026. Starting October 6, businesses that submitted a valid importer of record number by July 31 can seek refunds through CBP's Consolidated Administration and Processing of Entries (CAPE) portal for finally liquidated entries. This third phase of CAPE's rollout will handle roughly $11.4 billion or 6.9% of IEEPA tariffs. As of September 11, CAPE has accepted approximately $134.7 billion in potential and certified refunds, with $122 billion sent to the Treasury Department for disbursement. The Justice Department has appealed a court ruling directing CBP to refund entries, arguing the order applies only to affected parties that have sued.

Cybersecurity executives at the International Foodservice Distributors Association conference warned that cyberattacks on food distributors can disrupt warehouses, trucks, customer orders and freight movement. They urged companies to shift from prevention-focused to resilience-focused security, containing intrusions before they spread. Vulnerabilities at suppliers and transportation partners pose particular risks. The panelists discussed network segmentation, zero-trust security, data minimization, business-continuity testing and third-party vendor scrutiny as key defences. A compromised carrier's email system enabled fraudulent cargo theft of blueberries. Companies should identify critical systems and plan manual fallbacks if digital systems fail.

A FreightWaves discussion between Ryan Schreiber of Metafora and Don Everhart of Transflo examines how GLP-1 medications are structurally changing freight demand. The drugs have already reduced food and beverage shipments by an estimated 2%, or roughly 2 million truckloads annually out of 100 million total moves. Walmart data shows households with male GLP-1 users purchase 10% fewer calories, while those with female users purchase 6% to 8% fewer. Snack food and beverages are the most affected categories. Only about 10% of the U.S. population currently uses GLP-1 drugs, leaving uncertainty about how much further demand erosion could occur. The conversation also covered freight tech adoption challenges and FreightWaves' new health initiative for trucking drivers.

TJX Companies CEO Ernie Herrman said the company's warehouse distribution model gives it an advantage in managing weather disruptions like El Niño. TJX uses a hold-and-flow model where inventory stages in distribution centers rather than flowing directly to stores, allowing the company to adjust shipments based on regional weather patterns and sell-through data. This contrasts with flow-through models used by traditional retailers, where goods move through distribution centers in one or two days. Supply chain experts note that hold-and-flow suits seasonal and variable inventory, while flow-through works better for predictable, low-complexity goods.

Seven young trade leaders selected from over 1,300 applicants met with the WTO Director-General at the WTO Public Forum in September 2026. They discussed AI's potential to reshape trade systems, the need to account for impacts on developing economies and the environment, and how young people can contribute to services trade in technology, education and public health. The leaders are participating in a year-long programme combining mentorship, training and community engagement.

Cybersecurity executives at the International Foodservice Distributors Association conference warned that cyberattacks on food distributors can disrupt warehouses, trucks, customer orders and freight movement. They urged companies to shift from prevention-focused to resilience-focused security, containing intrusions before they spread. Vulnerabilities at suppliers and transportation partners pose particular risks. The panelists discussed network segmentation, zero-trust security, data minimization, business-continuity testing and third-party vendor scrutiny as key defences. A compromised carrier's email system enabled fraudulent cargo theft of blueberries. Companies should identify critical systems and plan manual fallbacks if digital systems fail.

Five infant orangutans, a species native only to Sumatra and Borneo, were found abandoned in a forest in India's Odisha state. Indonesia's Forestry Ministry has asked India to establish their origin and return them if smuggled. The discovery highlights India's role in illegal wildlife trafficking, with thousands of exotic animals seized in recent years arriving via air routes from Thailand and Malaysia and land routes from Myanmar and Bangladesh. Demand is driven by exotic pet ownership and social media platforms that facilitate illegal sales. Law enforcement has not kept pace with the scale and sophistication of smuggling networks.

Cybersecurity executives at the International Foodservice Distributors Association conference warned that cyberattacks on food distributors can disrupt warehouses, trucks, customer orders and freight movement. They urged companies to shift from prevention-focused to resilience-focused security, containing intrusions before they spread. Vulnerabilities at suppliers and transportation partners pose particular risks. The panelists discussed network segmentation, zero-trust security, data minimization, business-continuity testing and third-party vendor scrutiny as key defences. A compromised carrier's email system enabled fraudulent cargo theft of blueberries. Companies should identify critical systems and plan manual fallbacks if digital systems fail.

Cybersecurity executives at the International Foodservice Distributors Association conference warned that cyberattacks on food distributors can disrupt warehouses, trucks, customer orders and freight movement. They urged companies to shift from prevention-focused to resilience-focused security, containing intrusions before they spread. Vulnerabilities at suppliers and transportation partners pose particular risks. The panelists discussed network segmentation, zero-trust security, data minimization, business-continuity testing and third-party vendor scrutiny as key defences. A compromised carrier's email system enabled fraudulent cargo theft of blueberries. Companies should identify critical systems and plan manual fallbacks if digital systems fail.

Five infant orangutans, a species native only to Sumatra and Borneo, were found abandoned in a forest in India's Odisha state. Indonesia's Forestry Ministry has asked India to establish their origin and return them if smuggled. The discovery highlights India's role in illegal wildlife trafficking, with thousands of exotic animals seized in recent years arriving via air routes from Thailand and Malaysia and land routes from Myanmar and Bangladesh. Demand is driven by exotic pet ownership and social media platforms that facilitate illegal sales. Law enforcement has not kept pace with the scale and sophistication of smuggling networks.

Seven young trade leaders selected from over 1,300 applicants met with the WTO Director-General at the WTO Public Forum in September 2026. They discussed AI's potential to reshape trade systems, the need to account for impacts on developing economies and the environment, and how young people can contribute to services trade in technology, education and public health. The leaders are participating in a year-long programme combining mentorship, training and community engagement.

Akrotiri Tankers, a Greek shipping company led by Marielena Procopiou and Konstantinos Lampsias, has ordered two very large ammonia carriers (VLACs) of 93,000 cubic metres each from China's New Times Shipbuilding for delivery in 2029. The order marks the company's entry into gas shipping and expands its fleet beyond product and crude tankers. Akrotiri has also previously ordered two LR1 product tankers and one suezmax crude carrier from the same Chinese yard.

Almonty Industries signed a multi-year offtake agreement with Sandvik Group subsidiary Wolfram Bergbau und Hütten (WBH) to supply tungsten concentrate from tailings reprocessing at its Los Santos Mine in western Spain. WBH will pay $3 million for offtake rights and receive a minimum of 1,720 tonnes of contained tungsten trioxide annually. The deal supports Almonty's restart of the Los Santos processing plant, which has been on care and maintenance since February 2020. WBH, the only integrated tungsten smelter outside Asia and Russia, gains access to European-origin feedstock ahead of new US defence procurement rules effective January 2027 that restrict tungsten from China, Russia, North Korea and Iran.

Chewy's chief operating officer Scott Anderson, formerly a vice president at Amazon, discusses how e-commerce retailers can differentiate themselves through delivery experience rather than competing on price or selection against Amazon and Walmart. Anderson emphasizes three strategies: treating delivery as a key experience differentiator through features like adjustable delivery windows and direct driver contact, balancing quantitative delivery metrics with qualitative customer feedback to identify service gaps, and maintaining open partnerships with carriers focused on mutual benefit rather than cost minimization. He notes that specialty retailers can win by offering curated experiences and that regional carriers serve rural areas effectively.

FedEx announced demand surcharges on imports into the United States from Canada, Europe, Latin America, the Caribbean, and Asia starting September 22, 2026. The carrier also increased existing surcharges on shipments from China, South Korea, and Japan, and raised fees on US exports to multiple regions. FedEx cited elevated volumes, high capacity demand, and increased operating costs. The move adds cost pressure to shippers already facing rising tariffs and peak holiday season demand. Customers importing from China and other Asian countries face the largest immediate increases, while exporters to Canada, Latin America, the Caribbean, Europe, Australia, and New Zealand see uniform 50% increases.

Container ship deliveries are accelerating after a summer pause, with new capacity flowing to the Asia-Latin America route. MSC took delivery of two 10,300 teu vessels for its Far East-South America service from a Chinese shipyard nearly a year ahead of schedule. CMA CGM and other carriers are also adding tonnage to Asia-South America lanes. Shanghai-South America freight rates have nearly tripled year-on-year to $8,555 per teu, though the strength reflects port congestion rather than cargo growth, which has remained stable.

Asian container carriers led by Pacific International Lines, HMM, Cosco, Interasia Lines, OOCL and ONE are launching two new weekly services connecting western India to East Africa this month. The GIA1 and GIA2 services will link ports in India (Nhava Sheva and Mundra) to Mombasa, Kenya and Dar es Salaam, Tanzania, using 2,300 to 2,800 teu vessels with eight ships per service. The expansion responds to strong India-East Africa trade growth driven by automotives, engineering goods and out-of-gauge cargo. Spot rates average $2,100 per 20ft and $2,400 per 40ft to these destinations. Established carrier CMA CGM, which operates the competing Swahili Express service, is evaluating the impact of new Asian regional capacity on its market position.

Akrotiri Tankers, a Greek shipping company led by Marielena Procopiou and Konstantinos Lampsias, has ordered two very large ammonia carriers (VLACs) of 93,000 cubic metres each from China's New Times Shipbuilding for delivery in 2029. The order marks the company's entry into gas shipping and expands its fleet beyond product and crude tankers. Akrotiri has also previously ordered two LR1 product tankers and one suezmax crude carrier from the same Chinese yard.

Container ship deliveries are accelerating after a summer pause, with new capacity flowing to the Asia-Latin America route. MSC took delivery of two 10,300 teu vessels for its Far East-South America service from a Chinese shipyard nearly a year ahead of schedule. CMA CGM and other carriers are also adding tonnage to Asia-South America lanes. Shanghai-South America freight rates have nearly tripled year-on-year to $8,555 per teu, though the strength reflects port congestion rather than cargo growth, which has remained stable.

A FreightWaves discussion between Ryan Schreiber of Metafora and Don Everhart of Transflo examines how GLP-1 medications are structurally changing freight demand. The drugs have already reduced food and beverage shipments by an estimated 2%, or roughly 2 million truckloads annually out of 100 million total moves. Walmart data shows households with male GLP-1 users purchase 10% fewer calories, while those with female users purchase 6% to 8% fewer. Snack food and beverages are the most affected categories. Only about 10% of the U.S. population currently uses GLP-1 drugs, leaving uncertainty about how much further demand erosion could occur. The conversation also covered freight tech adoption challenges and FreightWaves' new health initiative for trucking drivers.

Chewy's chief operating officer Scott Anderson, formerly a vice president at Amazon, discusses how e-commerce retailers can differentiate themselves through delivery experience rather than competing on price or selection against Amazon and Walmart. Anderson emphasizes three strategies: treating delivery as a key experience differentiator through features like adjustable delivery windows and direct driver contact, balancing quantitative delivery metrics with qualitative customer feedback to identify service gaps, and maintaining open partnerships with carriers focused on mutual benefit rather than cost minimization. He notes that specialty retailers can win by offering curated experiences and that regional carriers serve rural areas effectively.

Abu Dhabi sovereign investor L'Imad Holding is reportedly considering a stake purchase in Atlas Air Worldwide at a valuation of $10 billion or more, according to Bloomberg. Apollo Global Management and partners acquired Atlas in 2023 for $5.2 billion enterprise value and were exploring a sale at over $12 billion including debt. A minority stake sale at the higher valuation would let Apollo realise gains while retaining control and establish an external price benchmark. L'Imad's interest aligns with its strategic focus on aviation and logistics, and it already has a relationship with Atlas through Etihad Airways, which operates a dedicated freighter for the Abu Dhabi carrier.

Abu Dhabi sovereign investor L'Imad Holding is reportedly considering a stake purchase in Atlas Air Worldwide at a valuation of $10 billion or more, according to Bloomberg. Apollo Global Management and partners acquired Atlas in 2023 for $5.2 billion enterprise value and were exploring a sale at over $12 billion including debt. A minority stake sale at the higher valuation would let Apollo realise gains while retaining control and establish an external price benchmark. L'Imad's interest aligns with its strategic focus on aviation and logistics, and it already has a relationship with Atlas through Etihad Airways, which operates a dedicated freighter for the Abu Dhabi carrier.

Akrotiri Tankers, a Greek shipping company led by Marielena Procopiou and Konstantinos Lampsias, has ordered two very large ammonia carriers (VLACs) of 93,000 cubic metres each from China's New Times Shipbuilding for delivery in 2029. The order marks the company's entry into gas shipping and expands its fleet beyond product and crude tankers. Akrotiri has also previously ordered two LR1 product tankers and one suezmax crude carrier from the same Chinese yard.

Almonty Industries signed a multi-year offtake agreement with Sandvik Group subsidiary Wolfram Bergbau und Hütten (WBH) to supply tungsten concentrate from tailings reprocessing at its Los Santos Mine in western Spain. WBH will pay $3 million for offtake rights and receive a minimum of 1,720 tonnes of contained tungsten trioxide annually. The deal supports Almonty's restart of the Los Santos processing plant, which has been on care and maintenance since February 2020. WBH, the only integrated tungsten smelter outside Asia and Russia, gains access to European-origin feedstock ahead of new US defence procurement rules effective January 2027 that restrict tungsten from China, Russia, North Korea and Iran.

Chewy's chief operating officer Scott Anderson, formerly a vice president at Amazon, discusses how e-commerce retailers can differentiate themselves through delivery experience rather than competing on price or selection against Amazon and Walmart. Anderson emphasizes three strategies: treating delivery as a key experience differentiator through features like adjustable delivery windows and direct driver contact, balancing quantitative delivery metrics with qualitative customer feedback to identify service gaps, and maintaining open partnerships with carriers focused on mutual benefit rather than cost minimization. He notes that specialty retailers can win by offering curated experiences and that regional carriers serve rural areas effectively.

Abu Dhabi sovereign investor L'Imad Holding is reportedly considering a stake purchase in Atlas Air Worldwide at a valuation of $10 billion or more, according to Bloomberg. Apollo Global Management and partners acquired Atlas in 2023 for $5.2 billion enterprise value and were exploring a sale at over $12 billion including debt. A minority stake sale at the higher valuation would let Apollo realise gains while retaining control and establish an external price benchmark. L'Imad's interest aligns with its strategic focus on aviation and logistics, and it already has a relationship with Atlas through Etihad Airways, which operates a dedicated freighter for the Abu Dhabi carrier.

Abu Dhabi sovereign investor L'Imad Holding is reportedly considering a stake purchase in Atlas Air Worldwide at a valuation of $10 billion or more, according to Bloomberg. Apollo Global Management and partners acquired Atlas in 2023 for $5.2 billion enterprise value and were exploring a sale at over $12 billion including debt. A minority stake sale at the higher valuation would let Apollo realise gains while retaining control and establish an external price benchmark. L'Imad's interest aligns with its strategic focus on aviation and logistics, and it already has a relationship with Atlas through Etihad Airways, which operates a dedicated freighter for the Abu Dhabi carrier.

TJX Companies CEO Ernie Herrman said the company's warehouse distribution model gives it an advantage in managing weather disruptions like El Niño. TJX uses a hold-and-flow model where inventory stages in distribution centers rather than flowing directly to stores, allowing the company to adjust shipments based on regional weather patterns and sell-through data. This contrasts with flow-through models used by traditional retailers, where goods move through distribution centers in one or two days. Supply chain experts note that hold-and-flow suits seasonal and variable inventory, while flow-through works better for predictable, low-complexity goods.

U.S. Customs and Border Protection will begin processing refunds in October for certain tariffs enacted under the International Emergency Economic Powers Act (IEEPA) and invalidated by the Supreme Court in February 2026. Starting October 6, businesses that submitted a valid importer of record number by July 31 can seek refunds through CBP's Consolidated Administration and Processing of Entries (CAPE) portal for finally liquidated entries. This third phase of CAPE's rollout will handle roughly $11.4 billion or 6.9% of IEEPA tariffs. As of September 11, CAPE has accepted approximately $134.7 billion in potential and certified refunds, with $122 billion sent to the Treasury Department for disbursement. The Justice Department has appealed a court ruling directing CBP to refund entries, arguing the order applies only to affected parties that have sued.

Cybersecurity executives at the International Foodservice Distributors Association conference warned that cyberattacks on food distributors can disrupt warehouses, trucks, customer orders and freight movement. They urged companies to shift from prevention-focused to resilience-focused security, containing intrusions before they spread. Vulnerabilities at suppliers and transportation partners pose particular risks. The panelists discussed network segmentation, zero-trust security, data minimization, business-continuity testing and third-party vendor scrutiny as key defences. A compromised carrier's email system enabled fraudulent cargo theft of blueberries. Companies should identify critical systems and plan manual fallbacks if digital systems fail.

A FreightWaves discussion between Ryan Schreiber of Metafora and Don Everhart of Transflo examines how GLP-1 medications are structurally changing freight demand. The drugs have already reduced food and beverage shipments by an estimated 2%, or roughly 2 million truckloads annually out of 100 million total moves. Walmart data shows households with male GLP-1 users purchase 10% fewer calories, while those with female users purchase 6% to 8% fewer. Snack food and beverages are the most affected categories. Only about 10% of the U.S. population currently uses GLP-1 drugs, leaving uncertainty about how much further demand erosion could occur. The conversation also covered freight tech adoption challenges and FreightWaves' new health initiative for trucking drivers.

TJX Companies CEO Ernie Herrman said the company's warehouse distribution model gives it an advantage in managing weather disruptions like El Niño. TJX uses a hold-and-flow model where inventory stages in distribution centers rather than flowing directly to stores, allowing the company to adjust shipments based on regional weather patterns and sell-through data. This contrasts with flow-through models used by traditional retailers, where goods move through distribution centers in one or two days. Supply chain experts note that hold-and-flow suits seasonal and variable inventory, while flow-through works better for predictable, low-complexity goods.

Chewy's chief operating officer Scott Anderson, formerly a vice president at Amazon, discusses how e-commerce retailers can differentiate themselves through delivery experience rather than competing on price or selection against Amazon and Walmart. Anderson emphasizes three strategies: treating delivery as a key experience differentiator through features like adjustable delivery windows and direct driver contact, balancing quantitative delivery metrics with qualitative customer feedback to identify service gaps, and maintaining open partnerships with carriers focused on mutual benefit rather than cost minimization. He notes that specialty retailers can win by offering curated experiences and that regional carriers serve rural areas effectively.

The Dali containership casualty has become the largest single loss in P&I insurance history, with reserves exceeding $2.8bn. The ship lost power and struck Baltimore's Francis Scott Key Bridge in March 2024, killing six workers and closing the port. Claims have come from government agencies, infrastructure owners, businesses, cargo interests and victims' families. The loss has moved into the International Group's collective overspill reinsurance layer, previously untested at this scale. Reconstruction of the bridge is underway with completion targeted for late 2030 at an estimated cost of $4.3bn to $5.2bn.

Abu Dhabi sovereign investor L'Imad Holding is reportedly considering a stake purchase in Atlas Air Worldwide at a valuation of $10 billion or more, according to Bloomberg. Apollo Global Management and partners acquired Atlas in 2023 for $5.2 billion enterprise value and were exploring a sale at over $12 billion including debt. A minority stake sale at the higher valuation would let Apollo realise gains while retaining control and establish an external price benchmark. L'Imad's interest aligns with its strategic focus on aviation and logistics, and it already has a relationship with Atlas through Etihad Airways, which operates a dedicated freighter for the Abu Dhabi carrier.

Kazakhstan has agreed to increase natural gas imports from Russia to 11 billion cubic meters in 2026, up from 4 bcm in 2025, under a new supplementary agreement with Gazprom. Domestic demand in Kazakhstan is surging despite record domestic production of 68.1 bcm in 2025. The purchase price is likely discounted because Russia needs revenue for its war effort in Ukraine and has lost European markets. A US sanctions bill passed on September 16 could disrupt these import plans and expose Central Asian entities to secondary sanctions. Uzbekistan is following a similar strategy of importing cheap Russian gas while exporting its own gas at higher prices, though its domestic production is declining rapidly.

Seven young trade leaders selected from over 1,300 applicants met with the WTO Director-General at the WTO Public Forum in September 2026. They discussed AI's potential to reshape trade systems, the need to account for impacts on developing economies and the environment, and how young people can contribute to services trade in technology, education and public health. The leaders are participating in a year-long programme combining mentorship, training and community engagement.

Turkey has presented Russia and Ukraine with a draft memorandum aimed at halting attacks on commercial vessels in the Black Sea. The proposal follows failed US efforts to broker a maritime truce. Recent strikes have killed merchant sailors, including the captain of a Tanzanian-flagged vessel and a crew member of the Turkish bulker Reyhan Sari. Turkey brokered a grain corridor agreement years earlier. Russia has said monitoring a ban on attacks against civilian cargo ships would be impossible.

Almonty Industries signed a multi-year offtake agreement with Sandvik Group subsidiary Wolfram Bergbau und Hütten (WBH) to supply tungsten concentrate from tailings reprocessing at its Los Santos Mine in western Spain. WBH will pay $3 million for offtake rights and receive a minimum of 1,720 tonnes of contained tungsten trioxide annually. The deal supports Almonty's restart of the Los Santos processing plant, which has been on care and maintenance since February 2020. WBH, the only integrated tungsten smelter outside Asia and Russia, gains access to European-origin feedstock ahead of new US defence procurement rules effective January 2027 that restrict tungsten from China, Russia, North Korea and Iran.

The Federal Motor Carrier Safety Administration (FMCSA) granted a nationwide waiver of Hours of Service (HOS) rules for fuel-transport trucks effective immediately through December 16. The waiver allows drivers to operate up to 16 hours per day, compared to the standard 11-hour limit in a 14-hour period. FMCSA cited anticipated increased fuel demand in late summer and fall as the reason. The waiver includes standard safety requirements: carriers must have valid operating authority, drivers must hold a physical copy of the waiver and a valid commercial driver's license, and drivers with conditional safety ratings are ineligible. Secretary of Transportation Sean Duffy stated the waiver protects against fuel shortages and reduces costs for consumers and agricultural producers.

Cybersecurity executives at the International Foodservice Distributors Association conference warned that cyberattacks on food distributors can disrupt warehouses, trucks, customer orders and freight movement. They urged companies to shift from prevention-focused to resilience-focused security, containing intrusions before they spread. Vulnerabilities at suppliers and transportation partners pose particular risks. The panelists discussed network segmentation, zero-trust security, data minimization, business-continuity testing and third-party vendor scrutiny as key defences. A compromised carrier's email system enabled fraudulent cargo theft of blueberries. Companies should identify critical systems and plan manual fallbacks if digital systems fail.

FedEx announced demand surcharges on imports into the United States from Canada, Europe, Latin America, the Caribbean, and Asia starting September 22, 2026. The carrier also increased existing surcharges on shipments from China, South Korea, and Japan, and raised fees on US exports to multiple regions. FedEx cited elevated volumes, high capacity demand, and increased operating costs. The move adds cost pressure to shippers already facing rising tariffs and peak holiday season demand. Customers importing from China and other Asian countries face the largest immediate increases, while exporters to Canada, Latin America, the Caribbean, Europe, Australia, and New Zealand see uniform 50% increases.

A liquefied natural gas tanker, the Vivit Africa LNG, experienced a suspected cyberattack in the Mediterranean Sea in early September while transporting cargo from the United States to Europe. The crew lost access to internal control systems and the vessel diverted from its intended destination in Italy, heading instead toward Spain. The incident follows other suspected cyberattacks on oil and gas tankers in August, with US officials monitoring nearly 20 ships globally for similar threats. No perpetrator has been identified and investigations are ongoing.

Container ship deliveries are accelerating after a summer pause, with new capacity flowing to the Asia-Latin America route. MSC took delivery of two 10,300 teu vessels for its Far East-South America service from a Chinese shipyard nearly a year ahead of schedule. CMA CGM and other carriers are also adding tonnage to Asia-South America lanes. Shanghai-South America freight rates have nearly tripled year-on-year to $8,555 per teu, though the strength reflects port congestion rather than cargo growth, which has remained stable.

President Donald Trump has imposed Section 232 tariffs on a broad range of imports, citing national security grounds. The tariffs cover steel, aluminum, copper, autos, trucks, timber, furniture, pharmaceuticals, semiconductors, drones, polysilicon, and other products, with rates ranging from 10 percent to 100 percent. The Council on Foreign Relations analysis shows that while the stated aim is to counter Chinese competition, the tariffs heavily affect U.S. allies including Canada, Mexico, the European Union, Japan, and South Korea. Carve-outs and preferential rates exist for certain countries and products. The United States relies on imports for substantial portions of many of these goods, with supply chains concentrated among a small number of countries.

U.S. Customs and Border Protection will begin processing refunds in October for certain tariffs enacted under the International Emergency Economic Powers Act (IEEPA) and invalidated by the Supreme Court in February 2026. Starting October 6, businesses that submitted a valid importer of record number by July 31 can seek refunds through CBP's Consolidated Administration and Processing of Entries (CAPE) portal for finally liquidated entries. This third phase of CAPE's rollout will handle roughly $11.4 billion or 6.9% of IEEPA tariffs. As of September 11, CAPE has accepted approximately $134.7 billion in potential and certified refunds, with $122 billion sent to the Treasury Department for disbursement. The Justice Department has appealed a court ruling directing CBP to refund entries, arguing the order applies only to affected parties that have sued.

Akrotiri Tankers, a Greek shipping company led by Marielena Procopiou and Konstantinos Lampsias, has ordered two very large ammonia carriers (VLACs) of 93,000 cubic metres each from China's New Times Shipbuilding for delivery in 2029. The order marks the company's entry into gas shipping and expands its fleet beyond product and crude tankers. Akrotiri has also previously ordered two LR1 product tankers and one suezmax crude carrier from the same Chinese yard.

China's shipbuilding orders have nearly tripled, driven by demand from shipping companies seeking to avoid the Red Sea amid Houthi attacks linked to the Iran-backed axis of resistance. Vessels are taking longer, costlier routes around Africa instead of the Suez Canal. Chinese shipyards are capturing orders as global shipping companies expand fleets to compensate for extended transit times. This surge reflects how regional conflict is reshaping maritime trade patterns and benefiting Chinese industrial capacity.

FedEx announced demand surcharges on imports into the United States from Canada, Europe, Latin America, the Caribbean, and Asia starting September 22, 2026. The carrier also increased existing surcharges on shipments from China, South Korea, and Japan, and raised fees on US exports to multiple regions. FedEx cited elevated volumes, high capacity demand, and increased operating costs. The move adds cost pressure to shippers already facing rising tariffs and peak holiday season demand. Customers importing from China and other Asian countries face the largest immediate increases, while exporters to Canada, Latin America, the Caribbean, Europe, Australia, and New Zealand see uniform 50% increases.

Container ship deliveries are accelerating after a summer pause, with new capacity flowing to the Asia-Latin America route. MSC took delivery of two 10,300 teu vessels for its Far East-South America service from a Chinese shipyard nearly a year ahead of schedule. CMA CGM and other carriers are also adding tonnage to Asia-South America lanes. Shanghai-South America freight rates have nearly tripled year-on-year to $8,555 per teu, though the strength reflects port congestion rather than cargo growth, which has remained stable.

President Donald Trump has imposed Section 232 tariffs on a broad range of imports, citing national security grounds. The tariffs cover steel, aluminum, copper, autos, trucks, timber, furniture, pharmaceuticals, semiconductors, drones, polysilicon, and other products, with rates ranging from 10 percent to 100 percent. The Council on Foreign Relations analysis shows that while the stated aim is to counter Chinese competition, the tariffs heavily affect U.S. allies including Canada, Mexico, the European Union, Japan, and South Korea. Carve-outs and preferential rates exist for certain countries and products. The United States relies on imports for substantial portions of many of these goods, with supply chains concentrated among a small number of countries.

Almonty Industries signed a multi-year offtake agreement with Sandvik Group subsidiary Wolfram Bergbau und Hütten (WBH) to supply tungsten concentrate from tailings reprocessing at its Los Santos Mine in western Spain. WBH will pay $3 million for offtake rights and receive a minimum of 1,720 tonnes of contained tungsten trioxide annually. The deal supports Almonty's restart of the Los Santos processing plant, which has been on care and maintenance since February 2020. WBH, the only integrated tungsten smelter outside Asia and Russia, gains access to European-origin feedstock ahead of new US defence procurement rules effective January 2027 that restrict tungsten from China, Russia, North Korea and Iran.

FedEx announced demand surcharges on imports into the United States from Canada, Europe, Latin America, the Caribbean, and Asia starting September 22, 2026. The carrier also increased existing surcharges on shipments from China, South Korea, and Japan, and raised fees on US exports to multiple regions. FedEx cited elevated volumes, high capacity demand, and increased operating costs. The move adds cost pressure to shippers already facing rising tariffs and peak holiday season demand. Customers importing from China and other Asian countries face the largest immediate increases, while exporters to Canada, Latin America, the Caribbean, Europe, Australia, and New Zealand see uniform 50% increases.

A liquefied natural gas tanker, the Vivit Africa LNG, experienced a suspected cyberattack in the Mediterranean Sea in early September while transporting cargo from the United States to Europe. The crew lost access to internal control systems and the vessel diverted from its intended destination in Italy, heading instead toward Spain. The incident follows other suspected cyberattacks on oil and gas tankers in August, with US officials monitoring nearly 20 ships globally for similar threats. No perpetrator has been identified and investigations are ongoing.

President Donald Trump has imposed Section 232 tariffs on a broad range of imports, citing national security grounds. The tariffs cover steel, aluminum, copper, autos, trucks, timber, furniture, pharmaceuticals, semiconductors, drones, polysilicon, and other products, with rates ranging from 10 percent to 100 percent. The Council on Foreign Relations analysis shows that while the stated aim is to counter Chinese competition, the tariffs heavily affect U.S. allies including Canada, Mexico, the European Union, Japan, and South Korea. Carve-outs and preferential rates exist for certain countries and products. The United States relies on imports for substantial portions of many of these goods, with supply chains concentrated among a small number of countries.

Almonty Industries signed a multi-year offtake agreement with Sandvik Group subsidiary Wolfram Bergbau und Hütten (WBH) to supply tungsten concentrate from tailings reprocessing at its Los Santos Mine in western Spain. WBH will pay $3 million for offtake rights and receive a minimum of 1,720 tonnes of contained tungsten trioxide annually. The deal supports Almonty's restart of the Los Santos processing plant, which has been on care and maintenance since February 2020. WBH, the only integrated tungsten smelter outside Asia and Russia, gains access to European-origin feedstock ahead of new US defence procurement rules effective January 2027 that restrict tungsten from China, Russia, North Korea and Iran.

A liquefied natural gas tanker, the Vivit Africa LNG, experienced a suspected cyberattack in the Mediterranean Sea in early September while transporting cargo from the United States to Europe. The crew lost access to internal control systems and the vessel diverted from its intended destination in Italy, heading instead toward Spain. The incident follows other suspected cyberattacks on oil and gas tankers in August, with US officials monitoring nearly 20 ships globally for similar threats. No perpetrator has been identified and investigations are ongoing.

Turkey has presented Russia and Ukraine with a draft memorandum aimed at halting attacks on commercial vessels in the Black Sea. The proposal follows failed US efforts to broker a maritime truce. Recent strikes have killed merchant sailors, including the captain of a Tanzanian-flagged vessel and a crew member of the Turkish bulker Reyhan Sari. Turkey brokered a grain corridor agreement years earlier. Russia has said monitoring a ban on attacks against civilian cargo ships would be impossible.

Almonty Industries signed a multi-year offtake agreement with Sandvik Group subsidiary Wolfram Bergbau und Hütten (WBH) to supply tungsten concentrate from tailings reprocessing at its Los Santos Mine in western Spain. WBH will pay $3 million for offtake rights and receive a minimum of 1,720 tonnes of contained tungsten trioxide annually. The deal supports Almonty's restart of the Los Santos processing plant, which has been on care and maintenance since February 2020. WBH, the only integrated tungsten smelter outside Asia and Russia, gains access to European-origin feedstock ahead of new US defence procurement rules effective January 2027 that restrict tungsten from China, Russia, North Korea and Iran.

China's shipbuilding orders have nearly tripled, driven by demand from shipping companies seeking to avoid the Red Sea amid Houthi attacks linked to the Iran-backed axis of resistance. Vessels are taking longer, costlier routes around Africa instead of the Suez Canal. Chinese shipyards are capturing orders as global shipping companies expand fleets to compensate for extended transit times. This surge reflects how regional conflict is reshaping maritime trade patterns and benefiting Chinese industrial capacity.