<div class="phx-topic abstract-wrapper">Domestic oil drillers are trying to enlist the aid of Sen. Lloyd Bentsen, D- Texas, in fighting legi</div>

Domestic oil drillers are trying to enlist the aid of Sen. Lloyd Bentsen, D- Texas, in fighting legi

<div>Domestic oil drillers are trying to enlist the aid of Sen. Lloyd Bentsen, D- Texas, in fighting legislation that would grant millions of dollars in new import duty refunds to the oil industry, saying it would cheapen imports and hurt their business.The split between drillers and refiners is over Senate legislation sponsored by Sen. Steve Symms, R-Idaho, and backed by the American Petroleum Institute that would extend eligibility for import duty refunds known as drawbacks to imported refined fuels for aircraft and vessels on international and some domestic routes.The Senate Finance Committee chaired by Sen. Bentsen last week voted to...

Domestic oil drillers are trying to enlist the aid of Sen. Lloyd Bentsen, D- Texas, in fighting legislation that would grant millions of dollars in new import duty refunds to the oil industry, saying it would cheapen imports and hurt their business. The split between drillers and refiners is over Senate legislation sponsored by Sen. Steve Symms, R-Idaho, and backed by the American Petroleum Institute that would extend eligibility for import duty refunds known as drawbacks to imported refined fuels for aircraft and vessels on international and some domestic routes.The Senate Finance Committee chaired by Sen. Bentsen last week voted to add the drawback measure as an amendment to a miscellaneous tariff bill despite objections from the U.S. Customs Service and the Treasury. Drawback refunds on import duties are generally designed to encourage re-exports. J.W. Chenoweth, director of corporate affairs at Lone Star Steel Co. of Dallas, a producer of drilling equipment, said Tuesday he is writing to Sen. Bentsen for the second time asking for help opposing the measure. "We are fairly convinced that the enactment of this bill would result in even cheaper imports of oil, further decreasing domestic drilling incentives, with consequent adverse impact on our predominant business," Mr. Chenoweth wrote in a letter to Sen. Bentsen last October. Mr. Chenoweth argued that the measure is neither revenue-neutral nor non- controversial and should therefore not have been tacked on to the tariff bill. A spokesman for Sen. Symms said there is now "no impediment" to the legislation reaching the Senate floor. Backers of the duty measure have billed it as a paperwork saver because it would reverse a 1988 Customs decision requiring refiners to account for drawback-eligible oil on a daily rather than a monthly basis and keep records on imports and exports in individual tanks rather than entire tank farms where more than one refiner may share facilities. According to Lone Star, American Petroleum Institute officials have said the measure would yield $16 million in initial refunds to some of its members with an additional $7 million to $10 million annually. Customs officials say the impact could be far larger because of broad language that could apply to other oil derivatives. The API has said only that it supports the legislation. A spokesman for Sen. Bentsen could not be reached for comment.

DRILLERS, REFINERS ARE SPLIT OVER DRAWBACK BILL

<div class="phx-topic abstract-wrapper">Stockholders representing 97% of the shares in Zim, equivalent to 57.2 million shares, voted Thursday in favor of the $4.2 billion deal that was announced in mid-February.</div>

Stockholders representing 97% of the shares in Zim, equivalent to 57.2 million shares, voted Thursday in favor of the $4.2 billion deal that was announced in mid-February.

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<div class="phx-topic">Hapag-Lloyd is on course to complete <a href="https://www.joc.com/article/hapag-lloyd-bolsters-fleet-with-42-billion-deal-to-acquire-zim-6170540">its $4.2 billion takeover</a> of Zim Integrated Shipping Services by the end of this year after shareholders of the Israel-headquartered carrier voted overwhelmingly to approve the deal Thursday. Stockholders representing 97% of the shares in Zim, equivalent to 57.2 million shares, voted in favor of the deal that was announced in mid-February, according to a filing the carrier made with the US Securities and Exchange Commission. "We are very pleased that ZIM’s general meeting has voted in favor of a merger with Hapag-Lloyd," a Hapag-Lloyd spokesperson told the Journal of Commerce. “Following this important milestone, we will now continue to focus on completing the transaction toward the end of the year.” Zim did not immediately comment on the results of the shareholder vote, which comes about three weeks it will release its 2025 results on May 20. The Hapag-Zim deal still needs approval from regulatory authorities in several jurisdictions before it can be completed. <h3>Deal with Zim unions needed </h3>Hapag-Lloyd, Zim and private equity house FIMI Opportunity Funds also need to reach agreement with the Israeli carrier’s labor unions to prevent industrial unrest from derailing the takeover. Around 900 Zim staff, protesting possible job cuts and collective bargaining issues, were involved in a series of strikes in April that briefly halted operations at ports in Israel and the company’s Haifa headquarters. The unrest ended after unions reached a temporary agreement with Zim management. Under the takeover offer, Hapag will acquire full 100% ownership of Zim and will subsequently split Zim’s international and domestic operations. Hapag-Lloyd will keep the international business, including Zim’s Hong Kong-headquartered intra-Asia liner and car carrier operator Gold Star Line and 99 chartered container ships. But Hapag will sign a transfer agreement with FIMI through which the private equity house will take over Zim’s domestic operation, including 16 container ships, under a rebranded Zim Israel. The Zim acquisition will bolster Hapag-Lloyd’s fleet to more than 400 ships with a capacity of over 3 million TEUs. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Hapag-Lloyd is on course to complete its $4.2 billion takeover of Zim Integrated Shipping Services by the end of this year after shareholders of the Israel-headquartered carrier voted overwhelmingly to approve the deal Thursday. Stockholders representing 97% of the shares in Zim, equivalent to 57.2 million shares, voted in favor of the deal that was announced in mid-February, according to a filing the carrier made with the US Securities and Exchange Commission. "We are very pleased that ZIM’s general meeting has voted in favor of a merger with Hapag-Lloyd," a Hapag-Lloyd spokesperson told the Journal of Commerce. “Following this important milestone, we will now continue to focus on completing the transaction toward the end of the year.” Zim did not immediately comment on the results of the shareholder vote, which comes about three weeks it will release its 2025 results on May 20. The Hapag-Zim deal still needs approval from regulatory authorities in several jurisdictions before it can be completed. Deal with Zim unions needed Hapag-Lloyd, Zim and private equity house FIMI Opportunity Funds also need to reach agreement with the Israeli carrier’s labor unions to prevent industrial unrest from derailing the takeover. Around 900 Zim staff, protesting possible job cuts and collective bargaining issues, were involved in a series of strikes in April that briefly halted operations at ports in Israel and the company’s Haifa headquarters. The unrest ended after unions reached a temporary agreement with Zim management. Under the takeover offer, Hapag will acquire full 100% ownership of Zim and will subsequently split Zim’s international and domestic operations. Hapag-Lloyd will keep the international business, including Zim’s Hong Kong-headquartered intra-Asia liner and car carrier operator Gold Star Line and 99 chartered container ships. But Hapag will sign a transfer agreement with FIMI through which the private equity house will take over Zim’s domestic operation, including 16 container ships, under a rebranded Zim Israel. The Zim acquisition will bolster Hapag-Lloyd’s fleet to more than 400 ships with a capacity of over 3 million TEUs. Contact Keith Wallis at keithwallis@hotmail.com .

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Zim shareholders overwhelmingly approve takeover by Hapag-Lloyd

<div class="phx-topic abstract-wrapper">US imports rose to new record high for the second straight year in 2025, while exports continued to recover from post-pandemic lows recorded in 2023.</div>

US imports rose to new record high for the second straight year in 2025, while exports continued to recover from post-pandemic lows recorded in 2023.

The largest US shippers moved slightly less freight last year despite a slight increase in overall market demand, according to the 2026 Journal of Commerce Top 100 US Importers and Exporters rankings. Containerized imports to the US rose to new record high for the second straight year in 2025 amid widespread frontloading linked to uncertainty surrounding tariffs and other US trade policies, such as a proposed fee on Chinese-built and -operated vessels. Against this backdrop, however, the Top 100 Importers saw their combined volumes slip an estimated 1.1% year over year. Total container imports inched up 0.7% to 28.16 million TEUs in 2025 after skyrocketing 16.6% to a then-record 27.98 million TEUs in 2024, according to PIERS, a sister product of the Journal of Commerce within S&P Global. On the export side, the disparity in growth rates was even greater, as outbound container volumes continued to recover from the post-pandemic lows recorded in 2023. Volumes among the Top 100 Exporters fell an estimated 4.5% for the full year, while total US exports grew 3.1% in 2025 following a 0.9% uptick in 2024. The annual container volumes of major importers and exporters are not publicly available, so the Top 100 rankings are the best approximation using analysis of PIERS data, confirmation of volumes with cargo owners, and limited modeling. Modeling factors include historical volumes, industry vertical growth and company revenue growth. The following rankings appear in the Top 100 Importers and Exporters issue of the Journal of Commerce magazine to be published May 4, 2026. Journal of Commerce Top 100 US Importers in 2025 Annual containerized US imports, in laden TEUs Rank Importer TEUs Sector 1 Walmart 975,000 Retail 2 Home Depot 450,000 Retail 3 Target 400,000 Retail 4 Amazon 350,000 Retail 5 Dole Food 247,500 Foodstuffs 6 Lowe's 222,309 Retail 7 Chiquita Brands International 201,709 Foodstuffs 8 Ashley Furniture 200,710 Furniture 9 LG Group 168,404 Conglomerate 10 Dollar Tree 160,000 Retail 11 IKEA 125,368 Retail 12 Fresh Del Monte Produce 124,827 Foodstuffs 13 Hyundai Motor Company 119,805 Automotive goods 14 Ross Stores 101,500 Retail 15 Samsung America 100,000 Conglomerate 16 Sumitomo Corporation 99,708 Conglomerate 17 First Solar 85,651 Solar 18 GE Appliances, a Haier Company 83,000 Retail and household goods 19 Toyota Tsusho America 82,068 Automotive goods 20 General Motors 80,000 Automotive goods 21 Bob’s Discount Furniture 73,000 Household goods 22 Rooms to Go 62,800 Furniture 23 Electrolux 62,397 Electronics and household goods 24 Dollar General 59,006 Retail 25 Heineken USA 52,333 Alcoholic and beverages 26 SharkNinja Operating LLC 51,259 Household goods 27 Tractor Supply Company 49,000 Retail 28 John Deere 48,000 Heavy machinery 29 Sailun Tire Americas 47,432 Automotive goods 30 Newell Brands 45,000 Electronics 31 Costco Wholesale 44,548 Retail 32 Mercedes Benz USA 44,188 Automotive goods 33 Canadian Solar 44,017 Renewable energy 34 Yokohama Tire 43,302 Automotive goods 35 Hankook Tire America 41,517 Automotive goods 36 VF Corp. 41,000 Apparel and footwear 37 Kubota Tractor Company 40,688 Heavy machinery 38 Adidas Group 39,348 Apparel and footwear 39 Midea Group 38,963 Household goods 40 Goodyear Rubber & Tire 38,390 Automotive goods 41 ALDI 37,524 Retail 42 Continental Tire 36,484 Automotive goods 43 Q Cells 34,948 Solar 44 Toyo Tires 34,429 Automotive goods 45 TMALL 34,397 Retail 46 Dole Packaged Foods 33,000 Foodstuffs 47 Element Electronics 32,397 Electronics 48 Michelin North America 30,000 Automotive goods 49 Tesla 29,978 Automotive goods 50 Euromarket Designs 29,885 Retail 51 Hewlett-Packard 28,000 Electronics 52 Olam International 27,498 Cotton, spices and vegetables 53 Best Buy 27,000 Electronics 54 Dollarama L.P. 26,910 Retail 55 Mitsubishi Motors 26,552 Automotive goods 56 Southern Glazer's Wine & Spirits 26,490 Foodstuffs 57 Ford Motor Company 25,140 Automotive goods 58 ABC Carpet and Home 25,012 Furniture 59 Dorel Industries 25,000 Conglomerate 60 Goya Foods 24,835 Foodstuffs 61 Bissell Homecare 24,500 Household goods 62 Bridgestone Tire 24,290 Automotive goods 63 Tatung Company of America 23,213 Electronics 64 Subaru of America 22800 Automotive goods 65 LKQ 22,482 Automotive goods 66 Fiji Water 22,332 Retail 67 EGA America Inc 22,226 Metals and recyclables 68 Kumho Tire 22,072 Automotive goods 69 Raymour & Flanigan 22,000 Retail 70 Curtis International 21,487 Electronics 71 CMPC Maderas 21,428 Paper product 72 Keter North America Inc 21,152 Storage 73 TTE Technology 20,856 Electronics 74 New Balance Athletics 20,202 Apparel and footwear 75 LollicupStore 20,164 Retail 76 Sentury Tire 19,910 Automotive goods 77 The Vita Coco Company 19,734 Foodstuffs 78 Sazerac 19,518 Alcoholic and beverages 79 Bechtel 19,390 Engineering and construction 80 American Furniture Warehouse 19,353 Furniture 81 Old Navy 19,005 Retail clothing 82 SanMar 18,964 Apparel and footwear 83 Yamaha Motor Corporation 18,581 Automotive goods 84 API Tires  18,521 Automotive goods 85 Conair LLC 18,291 Electronics 86 Sol Foods 18,116 Foodstuffs 87 Procter & Gamble 17,894 Conglomerate 88 Direct Pack 17,868 Packaging 89 Living Spaces Furniture 17,708 Furniture 90 Tireco 17,698 Automotive goods 91 ESWINDOWS 17,364 Glass manufacturer  92 Kawasaki 17,197 Powersports manufacturing 93 Loblaws 16,810 Retail 94 Runergy 16,483 Solar 95 Medical Depot 16,388 Medical devices 96 QVC 16,098 Retail 97 Danone Waters 16,022 Foodstuffs 98 Cozy Office 15,928 Furniture 99 FUYAO AUTOMOTIVE 15,776 Automotive goods 100 Schneider Electric 15,499 Electrical equipment Source: S&P Global © 2026 S&P Global. Journal of Commerce Top 100 US Exporters in 2025 Annual containerized US exports, in laden TEUs Rank Exporter TEUs Sector 1 Koch Industries 215,280 Conglomerate 2 Dow Chemical 199,900 Chemicals 3 International Paper 156,000 Paper and packaging 4 DeLong 131,492 Animal Feed and Grain 5 ExxonMobil Chemical 130,159 Chemicals 6 America Chung Nam 110,913 Paper and plastics recyclables 7 Tricon Energy 110,000 Chemicals 8 Shintech 108,812 Chemicals 9 Ravago 107,855 Chemicals 10 WM Recycle America 106,952 Diversified recyclables 11 POET Nutrition 99,266 Animal Feed and Grain 12 Archer Daniels Midland  90,140 Foodstuffs 13 Newport CH International 86,363 Paper, metals and plastics recyclables 14 Scoular 83,456 Animal Feed and Grain 15 International Forest Products 82,300 Paper and recyclables 16 Sims Metal Management 78,501 Metal and electronics recyclables 17 JBS USA 76,286 Refrigerated meats and poultry 18 Viterra US 72,606 Agribusiness 19 Frey Commodities 72,182 Commodity trading 20 Cargill 68,000 Conglomerate 21 Winfibre 67,441 Paper and recyclables 22 The Anderson's Inc. 67,314 Agricultural goods 23 CellMark Group 66,984 Diversified 24 Louis Dreyfus Company 57,734 Cotton 25 CHS 55,554 Agriculture, energy and foodstuffs 26 Smurfit Westrock 53,633 Paper and packaging 27 Domtar 51,887 Paper and forest products 28 BMW of North America 50,256 Automotive goods 29 Tyson Foods 49,861 Refrigerated meats and poultry 30 Olam International 46,177 Cotton, spices and vegetables 31 Walmart 43,559 Retail 32 Montachem International 43,027 Plastics 33 Vipa Group 40,130 Paper and recyclables 34 Canusa Hershman Recycling 38,000 Diversified recyclables 35 PriceSmart 37,712 Membership warehouse club 36 Eastman Chemical 36,786 Chemicals, fibers and plastics 37 Staple Cotton 36,000 Cotton 38 Rayonier Advanced Materials 36,000 Chemicals and forest products 39 Cycle Link 35,803 Recycling  40 AJC International 35,740 Foodstuffs 41 Prairie Creek Grain 35,669 Plastics, rubber and chemicals 42 Celanese 33,500 Chemicals 43 Vinmar International LTD 31,955 Chemicals and plastics 44 Genesis Resource Enterprises 31,324 Paper and recyclables 45 KaMin 31,258 Minerals and clay 46 Almarai 31,032 Animal feed 47 Valero 30,598 Petrochemical products 48 International Feed 29,952 Agricultural goods 49 Smithfield Foods 29,340 Foodstuffs 50 U.S. Borax Inc. 29,000 Chemicals 51 Al Dahra ACX Inc. 26,702 Animal Feed and Grain 52 Mitsui & Co. 25,084 Conglomerate 53 Stone Arch Commodities 24,050 Animal Feed and Grain 54 Fornazor International 22,703 Animal feed 55 America Metal Export 21,892 Metals and recyclables 56 Chevron Phillips Chemical 21,633 Chemicals 57 Costco Wholesale 21,300 Retail 58 Gildan Activewear 21,046 Apparel and footwear 59 Seaboard Foods 20,811 Foodstuffs 60 Hawkeye Gold 20,341 Minerals 61 Global Cellulose Fibers 20,057 Paper and forest products 62 Michelin North America 20,000 Automotive goods 63 Wonderful Pistachios & Almonds 20,000 Food and beverage 64 Sappi North America 19,036 Paper and recyclables 65 Procter & Gamble 18,176 Consumer goods 66 DuPont 17,960 Diversified 67 Haykingdom 17,718 Agricultural goods 68 Potential Industries 17,635 Paper and recyclables 69 Fibre Trade 17,336 Paper and recyclables 70 Bayer CropScience 17,313 Agricultural goods 71 Ascend Performance Materials 17,166 Chemicals, fibers and plastics 72 Mercedes Benz USA 16,838 Automotive 73 Anheuser Busch InBev 15,679 Foodstuffs 74 Alco Iron and Metal 15,205 Metals and recyclables 75 Perdue 14,549 Foodstuffs 76 Central National Gottesman 14,508 Paper and forest products 77 Darling Ingredients 14,387 Consumer staples 78 Ekman Group 14,379 Paper and recyclables 79 ECOM USA 13,939 Commodity trading 80 GE Healthcare 13,689 Retail and household goods 81 Chemours 13,050 Chemicals 82 Healthy Green Life 12,584 Consumer goods 83 Nova Chemicals 12,508 Chemicals 84 Conveyco Technologies 12,293 Manufacture 85 Toyota Tsusho America 11,781 Automotive goods 86 Sysco 11,775 Foodstuffs 87 National Beef 11,773 Foodstuffs 88 Home Depot 11,614 Retail 89 Prosper International Trading 11,264 Paper and forest products 90 Caterpillar 11,250 Heavy machinery 91 John Deere 11,040 Industrial machinery 92 SA Recycling 10,860 Scrap metal recycling 93 Active Minerals International 9,674 Minerals 94 Sun International Produce 9,615 Food and beverage 95 Wheaton Grain 9,527 Agribusiness 96 Anderson Hay & Grain 9,285 Animal feed 97 Zen Trading 9,159 Animal Feed and Grain 98 Ford Motor Company 9,059 Automotive goods 99 Linden Trading Company 9,000 Recycling and commodities Trading 100 Border Valley Trading 8,889 Animal feed Source: S&P Global © 2026 S&P Global.

Journal of Commerce Top 100 US Importers and Exporters in 2025

<div class="phx-topic abstract-wrapper">Tobias Meyer said 10 dedicated DHL Supply Chain warehouses with 7 million square feet of capacity will go live in North America this year, specifically targeting data center logistics.</div>

Tobias Meyer said 10 dedicated DHL Supply Chain warehouses with 7 million square feet of capacity will go live in North America this year, specifically targeting data center logistics.

<div class="phx-topic">DHL is targeting the booming US data center market to help boost revenues at its three main transportation divisions as part of efforts to develop its industrial customer base. Group CEO Tobias Meyer, speaking during the company’s first-quarter earnings call Thursday, said industrial customers typically ship heavier cargoes that, in turn, would drive group revenues. Meyer said 10 dedicated DHL Supply Chain warehouses with 7 million square feet of capacity will go live in North America this year, specifically targeting data center logistics. The facilities would support hyperscale and co-location data center operators amid AI-driven capacity expansion, he said. “We see particularly high demand in North America to stage inbound supplies there,” Meyer told an analysts during the call. Typically, DHL would transport components to warehouses close to data center job sites so they can be “stored locally to have components available when construction of the data center progresses,” he explained. Meyer pointed out this would involve international and domestic shipments of data center servers, server racks, and other electrical equipment that are “significant components and significant tonnage” that would be moved by DHL’s three main transportation divisions: global forwarding, supply chain and express. He gave no indication how much the business, which he described as “still unfolding,” would be worth. But real estate company JLL estimated US data center capacity would more than double to 109 gigawatts by 2030 from 49 GW last year. More than 1,500 data centers are in various stages of development nationwide, with 75% planned in the US Southwest and Midwest, according to a Pew Research Center report published in mid-April. <h3>Jet fuel concerns in Asia </h3>More immediately, Meyer said jet fuel constraints in Asia, a key market for Middle Eastern crude, meant DHL is increasing the amount of fuel its aircraft carry on short-haul express cargo flights in the region to avoid airplanes running out of fuel. He said aircraft have been “tanking” fuel from DHL’s regional hubs in Asia so they have enough for roundtrip flights in its Asia network rather than refueling at each destination. ”We’ve seen at some airports there is no fuel available for additional flights or there are structural shortages,” Meyer said. He indicated that the situation could worsen, with jet fuel only available to airlines who were prepared to pay higher prices if Middle East oil shipments continued to be limited due to the Iran war and the effective closure of the Strait of Hormuz. "If there's a continued shortfall of 10 to 12 million barrels of crude every day, something has to give at some point,” Meyer said. “And that's also why higher prices are a logical outcome that allows fuel to be distributed to those areas where there's biggest demand and highest willingness to pay." Meyer declined to provide a full outlook for the rest of this year, but group earnings before interest and tax (EBIT) this year are forecast to be unchanged from last year at $7.3 billion due to the “muted macro environment.” His comments came after the company reported mixed first-quarter results. DHL Global Forwarding saw air freight volumes climb 4% to 438,000 metric tons while gross profit was flat at $698 per mt. Ocean freight volumes increased 2% to 804,000 TEUs, but gross profit fell 20% to $378 per TEU on lower freight rates. Overall, global forwarding saw its EBIT drop 19% to $193 million, while revenues fell 5% to $5.3 billion. DHL Express saw a slight decrease in volumes, but EBIT surged 21% to $941 million, supported by higher prices and cost savings. Revenues slipped 2% to $7 billion, with Europe being the only one of the four main express regions posting a revenue gain. Meyer said DHL’s total Q1 revenue was 2% lower at $24 billion, while net profit increased 3% to $956 million. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com.</a></div>

DHL is targeting the booming US data center market to help boost revenues at its three main transportation divisions as part of efforts to develop its industrial customer base. Group CEO Tobias Meyer, speaking during the company’s first-quarter earnings call Thursday, said industrial customers typically ship heavier cargoes that, in turn, would drive group revenues. Meyer said 10 dedicated DHL Supply Chain warehouses with 7 million square feet of capacity will go live in North America this year, specifically targeting data center logistics. The facilities would support hyperscale and co-location data center operators amid AI-driven capacity expansion, he said. “We see particularly high demand in North America to stage inbound supplies there,” Meyer told an analysts during the call. Typically, DHL would transport components to warehouses close to data center job sites so they can be “stored locally to have components available when construction of the data center progresses,” he explained. Meyer pointed out this would involve international and domestic shipments of data center servers, server racks, and other electrical equipment that are “significant components and significant tonnage” that would be moved by DHL’s three main transportation divisions: global forwarding, supply chain and express. He gave no indication how much the business, which he described as “still unfolding,” would be worth. But real estate company JLL estimated US data center capacity would more than double to 109 gigawatts by 2030 from 49 GW last year. More than 1,500 data centers are in various stages of development nationwide, with 75% planned in the US Southwest and Midwest, according to a Pew Research Center report published in mid-April. Jet fuel concerns in Asia More immediately, Meyer said jet fuel constraints in Asia, a key market for Middle Eastern crude, meant DHL is increasing the amount of fuel its aircraft carry on short-haul express cargo flights in the region to avoid airplanes running out of fuel. He said aircraft have been “tanking” fuel from DHL’s regional hubs in Asia so they have enough for roundtrip flights in its Asia network rather than refueling at each destination. ”We’ve seen at some airports there is no fuel available for additional flights or there are structural shortages,” Meyer said. He indicated that the situation could worsen, with jet fuel only available to airlines who were prepared to pay higher prices if Middle East oil shipments continued to be limited due to the Iran war and the effective closure of the Strait of Hormuz. "If there's a continued shortfall of 10 to 12 million barrels of crude every day, something has to give at some point,” Meyer said. “And that's also why higher prices are a logical outcome that allows fuel to be distributed to those areas where there's biggest demand and highest willingness to pay." Meyer declined to provide a full outlook for the rest of this year, but group earnings before interest and tax (EBIT) this year are forecast to be unchanged from last year at $7.3 billion due to the “muted macro environment.” His comments came after the company reported mixed first-quarter results. DHL Global Forwarding saw air freight volumes climb 4% to 438,000 metric tons while gross profit was flat at $698 per mt. Ocean freight volumes increased 2% to 804,000 TEUs, but gross profit fell 20% to $378 per TEU on lower freight rates. Overall, global forwarding saw its EBIT drop 19% to $193 million, while revenues fell 5% to $5.3 billion. DHL Express saw a slight decrease in volumes, but EBIT surged 21% to $941 million, supported by higher prices and cost savings. Revenues slipped 2% to $7 billion, with Europe being the only one of the four main express regions posting a revenue gain. Meyer said DHL’s total Q1 revenue was 2% lower at $24 billion, while net profit increased 3% to $956 million. Contact Keith Wallis at keithwallis@hotmail.com.

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DHL targeting US data center development to boost group revenues: CEO

<div class="phx-topic abstract-wrapper">With lower space allocations offered by Gemini, competing carriers have been able to keep their sailings on the routes maxed out and push rates higher, sources say.</div>

With lower space allocations offered by Gemini, competing carriers have been able to keep their sailings on the routes maxed out and push rates higher, sources say.

<div class="phx-topic">The capacity withdrawn by the Gemini Cooperation from the India–Mediterranean trade following its recent Middle East network adjustments has effectively tightened supply, thus proving a boon for active carrier participants in the market, market sources say. Gemini partners Maersk and Hapag-Lloyd in early March, shortly after the war began, <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.joc.com%2Farticle%2Fgemini-suspends-revamps-middle-east-services-amid-growing-conflict-6182114&amp;data=05%7C02%7Ckevin.saville2%40spglobal.com%7C9bc4790300504e3d15ab08dea6a733c1%7C8f3e36ea80394b4081a77dc0599e8645%7C1%7C0%7C639131434230985857%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=U6cMDZFpCsKNvoKG%2Bh4hwX699iOagbTAe%2FcM2tzx4F0%3D&amp;reserved=0">halted their independently branded ME11/IMX network operations</a> linking the Middle East, India and the Mediterranean, and opened a revamped India–Middle East–Europe service (ME1/IOS) with access to a West Mediterranean hub. The suspended ME11/IMX loop deployed ultra-large vessels with an average capacity of 15,000 TEUs to 16,000 TEUs, so space availability on the lane for Indian head-haul loads was substantial. With lower space allocations now offered by Gemini for India-North Europe/Med loadings due to combined operations and comparatively smaller tonnage, existing competing carriers, most notably CMA CGM, have been able to keep their sailings on the routes maxed out and push rates higher, local freight forwarder sources told the Journal of Commerce. CMA CGM serves the India–Mediterranean trade through its “Medex” service, which transits via the Red Sea/Suez Canal, and loads for North Europe on its premier “Epic” loop. According to an analysis of port flow data, CMA CGM’s weekly liftings out of West India for Medex and Epic sailings through April have hit a level of 5,000 TEUs per call on average, thanks to additional volume uptake from that altered supply-demand picture. “All the recent vessels have sailed full despite persistent muted demand conditions,” said a forwarder executive who didn’t want to be identified. “CMA CGM has also benefited to some extent from the rotation update centered on Red Sea cargo demand via Jeddah [Saudi Arabia].” India-Med booking rates gained between $800 to $1,000 per FEU from late March through April before stabilizing over the last week, data from forwarders shows. “While varying from carrier to carrier, spot rates are now in the range of $3,000 to $3,200 per FEU from Nhava Sheva to Port Said or Valencia,” a forwarder executive said. Sources with CMA CGM in India were not available for comment,<h3>Middle East inland bottlenecks </h3>Meanwhile, Maersk seems to be dealing with fresh logistics bottlenecks in Middle East-bound trades. The carrier said in a customer advisory that it has temporarily paused new bookings involving extensive land bridge solutions, including shipments to the United Arab Emirates (UAE) and Qatar via Jeddah and Oman, as well as from Salalah/Sohar in Oman to the UAE, Qatar, Saudi Arabia, Kuwait and Bahrain. Updates from Middle East-based industry sources who spoke with the Journal of Commerce indicate that a shortage of landside assets, especially trucks, is hindering the ability of carriers to move imports into the region inland. The sources added that CMA CGM is now doing much of its India-Persian Gulf cargo handling via Fujairah in the UAE on the back of a priority service arrangement it set up with port operator AD Ports Group. As a result, the carrier has curtailed Indian calls into the UAE’s Khor Fakkan, the other newfound alternative gateway to Jebel Ali, the sources said. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com.</a></div>

The capacity withdrawn by the Gemini Cooperation from the India–Mediterranean trade following its recent Middle East network adjustments has effectively tightened supply, thus proving a boon for active carrier participants in the market, market sources say. Gemini partners Maersk and Hapag-Lloyd in early March, shortly after the war began, halted their independently branded ME11/IMX network operations linking the Middle East, India and the Mediterranean, and opened a revamped India–Middle East–Europe service (ME1/IOS) with access to a West Mediterranean hub. The suspended ME11/IMX loop deployed ultra-large vessels with an average capacity of 15,000 TEUs to 16,000 TEUs, so space availability on the lane for Indian head-haul loads was substantial. With lower space allocations now offered by Gemini for India-North Europe/Med loadings due to combined operations and comparatively smaller tonnage, existing competing carriers, most notably CMA CGM, have been able to keep their sailings on the routes maxed out and push rates higher, local freight forwarder sources told the Journal of Commerce. CMA CGM serves the India–Mediterranean trade through its “Medex” service, which transits via the Red Sea/Suez Canal, and loads for North Europe on its premier “Epic” loop. According to an analysis of port flow data, CMA CGM’s weekly liftings out of West India for Medex and Epic sailings through April have hit a level of 5,000 TEUs per call on average, thanks to additional volume uptake from that altered supply-demand picture. “All the recent vessels have sailed full despite persistent muted demand conditions,” said a forwarder executive who didn’t want to be identified. “CMA CGM has also benefited to some extent from the rotation update centered on Red Sea cargo demand via Jeddah [Saudi Arabia].” India-Med booking rates gained between $800 to $1,000 per FEU from late March through April before stabilizing over the last week, data from forwarders shows. “While varying from carrier to carrier, spot rates are now in the range of $3,000 to $3,200 per FEU from Nhava Sheva to Port Said or Valencia,” a forwarder executive said. Sources with CMA CGM in India were not available for comment, Middle East inland bottlenecks Meanwhile, Maersk seems to be dealing with fresh logistics bottlenecks in Middle East-bound trades. The carrier said in a customer advisory that it has temporarily paused new bookings involving extensive land bridge solutions, including shipments to the United Arab Emirates (UAE) and Qatar via Jeddah and Oman, as well as from Salalah/Sohar in Oman to the UAE, Qatar, Saudi Arabia, Kuwait and Bahrain. Updates from Middle East-based industry sources who spoke with the Journal of Commerce indicate that a shortage of landside assets, especially trucks, is hindering the ability of carriers to move imports into the region inland. The sources added that CMA CGM is now doing much of its India-Persian Gulf cargo handling via Fujairah in the UAE on the back of a priority service arrangement it set up with port operator AD Ports Group. As a result, the carrier has curtailed Indian calls into the UAE’s Khor Fakkan, the other newfound alternative gateway to Jebel Ali, the sources said. Contact Bency Mathew at bencyvmathew@gmail.com.

Gemini capacity cutbacks make India-Med market hotter for rival carriers

<div class="phx-topic abstract-wrapper">An FMC judge ruled the carrier committed several violations of US shipping law, including unreasonable practices, failure to meet service commitments, and refusal to deal with the now-bankrupt retailer between 2020 and 2022.</div>

An FMC judge ruled the carrier committed several violations of US shipping law, including unreasonable practices, failure to meet service commitments, and refusal to deal with the now-bankrupt retailer between 2020 and 2022.

<div class="phx-topic">OOCL has been ordered to pay over $45 million to bankrupt retailer Bed Bath and Beyond after an administrative law judge ruled the carrier engaged in a pandemic-era practice of refusing the company’s contract cargo in favor of spot bookings and later retaliated against the shipper. In a decision published last week, an administrative law judge for the Federal Maritime Commission (FMC) ruled that OOCL committed several violations of US shipping law, including unreasonable practices, failure to meet service commitments, and refusal to deal with Bed Bath and Beyond between 2020 and 2022. The retailer, which went bankrupt in 2023, filed a slew of complaints that same year against <a href="https://www.joc.com/article/bed-bath-beyond-looks-to-recoup-millions-from-oocl-in-fmc-complaint-5192741">OOCL</a>, <a href="https://www.joc.com/article/bed-bath-beyond-files-fmc-complaint-against-yang-ming-in-capacity-dispute-5220648">Yang Ming</a>, HMM, Evergreen Marine, CMA CGM, and Mediterranean Shipping Co., alleging the carriers failed to meet service contract commitments during the COVID-19 pandemic and instead pushed Bed Bath and Beyond’s freight to higher-priced spot bookings. MSC and Bed Bath and Beyond settled their dispute in March. The other cases are still pending. In the OOCL case, the first one filed, the judge found that container bookings Bed Bath and Beyond made with the carrier had to go through OOCL’s internal yield-management software, which allocated space based on revenue and not on the already agreed service contracts. The software would routinely refuse a booking or keep it pending indefinitely with no confirmation, according to the ALJ’s decision, adding that in the case of Bed Bath and Beyond, it would make multiple different bookings to reach its allocated volume, only to have the software reject all of them. While there was some ability to override the system, OOCL was so short-staffed during the pandemic that few people had the ability to handle exceptions, according to the decision. “Throughout 2020-2022, OOCL’s own employees complained that the system did not provide sufficient space to meet minimum quantity commitments [MQCs] and did not function properly,” the judge’s decision said. “Moreover, the evidence shows [the software] was not implemented to ensure sufficient space allocations or the efficient flow of cargo. Rather, the system was used to maximize profits.” OOCL tried to defend the allocation limits it put on shippers, arguing that it had less shipping capacity during the pandemic. However, the judge ruled that US shipping law requires that carriers “must pro-rate their available space among contract shippers as an alternative to possibly acquiring additional capacity.” <h3>Incriminating emails </h3>After multiple complaints from Bed Bath and Beyond about bumped cargo, OOCL offered to put the retailer’s freight on premium services and ad-hoc vessels at higher rates. However, “the extent that these extra loaders created additional capacity, OOCL should have first fulfilled its pre-existing contractual requirements, rather than being utilized only as a premium service or at higher rates,” the judge ruled. Bed Bath and Beyond sent multiple messages to OOCL about its booking practices possibly violating US shipping law. Yet the retailer still sought to negotiate a 2022–23 contract with the carrier. Instead, the company retaliated and refused to deal, the judge’s decision said. An OOCL executive sent an email that said, “Simple solution is to cut back their bookings, then we will have fewer problems with them. With all the customers who want to expand with us, this one jumped to head of the class for deselection.” Another email from an OOCL executive said, “No need to reach out to Bed Bath &amp; Beyond as our rates are purposely higher than what they will ship against.” The emails were entered into evidence as part of the judge’s review. “The evidence shows that OOCL intentionally quoted a reduced MQC and rates so far above market that they cannot be considered a good faith offer or negotiation,” the judge said. OOCL could not be reached for comment. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

OOCL has been ordered to pay over $45 million to bankrupt retailer Bed Bath and Beyond after an administrative law judge ruled the carrier engaged in a pandemic-era practice of refusing the company’s contract cargo in favor of spot bookings and later retaliated against the shipper. In a decision published last week, an administrative law judge for the Federal Maritime Commission (FMC) ruled that OOCL committed several violations of US shipping law, including unreasonable practices, failure to meet service commitments, and refusal to deal with Bed Bath and Beyond between 2020 and 2022. The retailer, which went bankrupt in 2023, filed a slew of complaints that same year against OOCL , Yang Ming , HMM, Evergreen Marine, CMA CGM, and Mediterranean Shipping Co., alleging the carriers failed to meet service contract commitments during the COVID-19 pandemic and instead pushed Bed Bath and Beyond’s freight to higher-priced spot bookings. MSC and Bed Bath and Beyond settled their dispute in March. The other cases are still pending. In the OOCL case, the first one filed, the judge found that container bookings Bed Bath and Beyond made with the carrier had to go through OOCL’s internal yield-management software, which allocated space based on revenue and not on the already agreed service contracts. The software would routinely refuse a booking or keep it pending indefinitely with no confirmation, according to the ALJ’s decision, adding that in the case of Bed Bath and Beyond, it would make multiple different bookings to reach its allocated volume, only to have the software reject all of them. While there was some ability to override the system, OOCL was so short-staffed during the pandemic that few people had the ability to handle exceptions, according to the decision. “Throughout 2020-2022, OOCL’s own employees complained that the system did not provide sufficient space to meet minimum quantity commitments [MQCs] and did not function properly,” the judge’s decision said. “Moreover, the evidence shows [the software] was not implemented to ensure sufficient space allocations or the efficient flow of cargo. Rather, the system was used to maximize profits.” OOCL tried to defend the allocation limits it put on shippers, arguing that it had less shipping capacity during the pandemic. However, the judge ruled that US shipping law requires that carriers “must pro-rate their available space among contract shippers as an alternative to possibly acquiring additional capacity.” Incriminating emails After multiple complaints from Bed Bath and Beyond about bumped cargo, OOCL offered to put the retailer’s freight on premium services and ad-hoc vessels at higher rates. However, “the extent that these extra loaders created additional capacity, OOCL should have first fulfilled its pre-existing contractual requirements, rather than being utilized only as a premium service or at higher rates,” the judge ruled. Bed Bath and Beyond sent multiple messages to OOCL about its booking practices possibly violating US shipping law. Yet the retailer still sought to negotiate a 2022–23 contract with the carrier. Instead, the company retaliated and refused to deal, the judge’s decision said. An OOCL executive sent an email that said, “Simple solution is to cut back their bookings, then we will have fewer problems with them. With all the customers who want to expand with us, this one jumped to head of the class for deselection.” Another email from an OOCL executive said, “No need to reach out to Bed Bath & Beyond as our rates are purposely higher than what they will ship against.” The emails were entered into evidence as part of the judge’s review. “The evidence shows that OOCL intentionally quoted a reduced MQC and rates so far above market that they cannot be considered a good faith offer or negotiation,” the judge said. OOCL could not be reached for comment. Contact Michael Angell at michael.angell@spglobal.com .

OOCL ordered to pay $45 million for Bed Bath and Beyond’s bumped cargo

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