Taiwanese shipping giant Evergreen Marine Corp. awarded its employees a substantial year-end bonus averaging 20 months’ salary, plus an additional three-month bonus. This generous payout, based on an average salary of approximately NT$60,000, follows a trend of exceptionally high bonuses in previous years. The company’s record profits in 2024, boosted by global supply chain disruptions stemming from the Red Sea crisis, fueled this significant reward for its workforce. Evergreen’s continued success is projected to maintain this pattern of lucrative employee compensation.
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As an export specialist for a CONRO carrier with a significant amount of cargo moving through the Baltimore port, the recent bridge collapse has thrown a massive wrench into our operations. The chaos that has ensued in redistributing cargo to other ports like Norfolk and New York is not only challenging for us but will also likely lead to congestion at these alternative ports, putting extra strain on their operations crews. The situation is far from ideal, and the uncertainty surrounding a timeline for the Baltimore port to reopen is adding to the frustration.
The priority right now should be on clearing the channel to allow shipping traffic to resume as quickly as possible.… Continue reading
The recent news of the death of shipping CEO Angela Chao under ‘criminal investigation’ in Texas has shocked and captivated the public. As details emerge surrounding her tragic passing, speculation and theories run rampant about the circumstances leading to her demise. Despite initial reports indicating that her car had gone into a pond resulting in her drowning, the nuances of the incident remain shrouded in mystery, triggering a criminal investigation to uncover the truth.
Angela Chao, a prominent figure in the shipping industry, was no stranger to success and accolades, having achieved a double Harvard graduate status and assuming the role of CEO of Foremost in 2018.… Continue reading
UPS announces 12,000 job cuts, saying that package volume slipped last quarter. This news is disheartening, but not entirely surprising given the changing landscape of the shipping industry. As someone who ships around 100 packages a week, I’ve observed a shift in the market. It used to be a 90/10 split between UPS and USPS, but now it’s more of a 10/90 split due to USPS’s Ground Advantage service, which offers lower prices. This has undoubtedly impacted UPS’s market share.
The rise of e-commerce giant Amazon has also played a role in UPS’s struggles. A few years ago, UPS took a stand and told Amazon to either accept their rates or develop their own shipping program.… Continue reading
John Q. Hosedrinker