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Baltimore Port Sets Reopening Plan; China’s Export Flows are Shifting

By Paul Page

 

Authorities plan to move the Dali to a nearby berth before shifting it to another port for more extensive repairs. PHOTO: CHIP SOMODEVILLA/GETTY IMAGES

The Port of Baltimore could reopen to most shipping traffic as soon as next week. Demolition crews have been planting small explosives on part of the wreckage of the Francis Scott Key Bridge that has been sitting across the Dali containership since the disastrous collapse of the span on March 26. The WSJ Logistics Report’s Paul Berger says authorities plan a controlled explosion over the weekend that is aimed at breaking off a section of the steel truss that collapsed onto the Dali’s bow. Authorities expect to move the Dali within 48 hours of it being freed. That would allow the port to open the shipping channel to most vessel traffic early next week. Probes into a disaster that killed six construction workers and redirected trade flows along the East Coast are still going on. Federal safety investigators could issue a preliminary report as soon as next week.

 
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Quotable

“I’m really skeptical, based upon the experience over the last 10, 20 years, in terms of impact of technology improvements on productivity.”

— Andrew Balls, global chief investment officer for fixed income at Pimco, on the impact of artificial intelligence in business operations.
 

Economy & Trade

A car carrier leaves China’s Yantai in March. PHOTO: CFOTO/ZUMA PRESS

The direction of China’s goods trade is changing even as the country’s exports show signs of resurgence. China’s outbound trade flows rose 1.5% in the four months through April, driven by a healthy bump in shipments to Asia and the developing world. The WSJ’s Jason Douglas reports exports to the European Union and the U.S. dropped during the first part of the year, highlighting how the tensions between Beijing and the U.S.-led West are redrawing the global trade map. Chinese leader Xi Jinping’s visit to Europe this week put a spotlight on the country’s focus on electric vehicles and other high-tech Chinese products in its effort to get more goods moving. Electric-vehicle maker BYD is preparing a big push in Europe while EU leaders weigh steep tariffs on Chinese-made EVs and wind turbines. Higher trade barriers would make China’s challenge of rebuilding exports to the bloc even harder.

  • A BYD executive says the carmaker plans a “huge investment” in Europe with a goal of become the largest EV seller there this decade. (Financial Times)
  • An analysis found traces of banned Chinese cotton in 19% of a sample of merchandise selling at U.S. and global retailers in the past year. (Reuters)
  • Mattel is shutting one of its supplier plants in China as it looks to diversify its sourcing. (Supply Chain Dive)
 
 

Number of the Day

47%

The percentage of suppliers that are extremely confident their customers will maintain current purchasing volumes over the next six months, up from 32% at the end of 2023, according to a survey by PrimeRevenue.

 

In Other News

Initial U.S. unemployment claims jumped to the highest level in nine months. (MarketWatch)

The U.S. Senate approved a $105 billion civil aviation bill that includes funds for airport upgrades and provisions addressing airline safety. (WSJ) 

Nissan expects its global car sales to rise 7.5% this year. (WSJ)

India is bringing greater capacity and efficiency to its ports as the country bids for a bigger role in global supply chains. (The Economist)

Tankers carrying Russian refined oil products are being held at sea due to caution among South Korean buyers. (TradeWinds)

Clarkson Research says Chinese shipyards accounted for 76% of all new vessel orders in April. (Maritime Executive)

China Merchants Shipping is buying up to 18 new dry-bulk ships from Chinese shipyards. (Splash 247)

Large truckload carriers are cutting capacity at a rapid pace as rates in the sector keep falling. (Journal of Commerce)

Daimler Truck plans to introduce an autonomous heavy-duty truck by 2027. (The Verge)

Automotive transport supplier Proficient Auto Logistics raised $215 million in its initial public offering. (Bloomberg)

Freight forwarder Yusen Logistics acquired Benelux-focused service-parts logistics provider Parts Express. (Automotive Logistics)

Freight forwarder Expeditors International’s first-quarter earnings fell 25% as revenues declined 15% despite higher ocean and airfreight volumes. (Air Cargo Next)

Italian sweets maker Ferrero opened a factory in Illinois that is its first chocolate processing site in North America. (Logistics Manager)

 

Executive Insights

Here is our weekly roundup of stories from across WSJ Pro that we think you'll find useful.

  • Geopolitics has moved to a central role in supply-chain planning as international confrontations roil trade and transportation.
  • Once viewed as a near-total loss, FTX plans to fully repay its swindled customers as the defunct crypto exchange’s assets have rebounded since its 2022 bankruptcy filing.
  • Whistleblower programs seeking tips that lead to enforcement actions are gaining momentum in the U.S. and abroad.
  • 🎧 Listen to WeightWatchers CEO Sima Sistani discuss how her company plans to return to profitability as the rise of weight-control drugs challenges the program business model.
 

About Us

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on X at @WSJLogistics.

 
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