Latest news with #Transpacific
CBS News
2 days ago
- Sport
- CBS News
Ichiro Suzuki, CC Sabathia and Billy Wagner inducted into Baseball Hall of Fame
Ichiro Suzuki was always known for his meticulous preparation during his 19-year Major League Baseball career. For his induction into the Hall of Fame? Not so much. "Of course, I'm nervous and I probably should be preparing more, but this morning I actually went to the field, long tossed and kind of ran and did my workout, so I guess for me that was more important," Suzuki said Saturday through an interpreter on the eve of his enshrinement. Suzuki is the first Japanese player chosen for the Hall and fell one vote shy of becoming the second unanimous selection. He will be joined Sunday by CC Sabathia, a six-time All-Star who won the 2007 AL Cy Young Award, and relief pitcher Billy Wagner. Dave Parker, who died a month before he was to be inducted, and Dick Allen will be honored posthumously. They were voted in by the classic era committee. MLB has been profoundly impacted by Japan since Suzuki's arrival in 2001. His induction coincided with the opening of an exhibit at the Hall on Thursday entitled Yakyu/Baseball: The Transpacific Exchange of the Game, which celebrates the ways Japanese and American baseball are interconnected. It honors not just Suzuki but also pitcher Hideo Nomoi and current two-way star Shohei Otani. As interconnected as the two countries are, Suzuki does not want Japanese baseball to become a carbon copy of MLB. "I don't think Japan should copy what MLB does. I think Japanese baseball should be Japanese baseball and the way they do things, and MLB should be the way they are. I think they should be different and not the same," he said. Suzuki received 393 of 394 votes (99.7%) from the Baseball Writers' Association of America. Sabathia was on 342 ballots (86.8%) and Wagner on 325 (82.5%), which was 29 votes more than the 296 needed for the required 75%. Suzuki joked about falling one vote shy of a unanimous induction, calling out the one writer who left him off the ballot. The ballots are secret, so it's not known who kept Suzuki off their list, but after the totals had been announced, Suzuki initially offered to have that writer over for dinner. "Three thousand hits or 262 hits in one season are achievements recognized by the writers. Well, all but one of you," he said during his speech on Sunday. "By the way, the offer for that writer to have dinner at my home has now expired." Only one player in the Hall's history has been voted in unanimously: legendary New York Yankees closer Mariano Rivera, who received all 425 possible votes in 2019. Suzuki was a two-time AL batting champion and 10-time All-Star and Gold Glove outfielder, hitting .311 with 117 homers, 780 RBIs and 509 stolen bases with Seattle, the New York Yankees and Miami. He is perhaps the best contact hitter ever, with 1,278 hits in Nippon Professional Baseball and 3,089 in MLB, including a season-record 262 in 2004. His combined total of 4,367 exceeds Pete Rose's MLB record of 4,256. Suzuki visited the Hall seven times during his career, but this time is different. "I had a purpose. I would come to the basement and look at some of the artifacts. This time around, though, I didn't come to have one purpose to see something. I just wanted to experience Cooperstown, take it all in. That's the difference this time around. "This is the place where I'd come (during the season) and kind of cleanse myself and get a great feeling again," he said. For Sabathia, his induction represents a full-circle moment because his plaque will have him sporting a Yankees cap with the interlocking NY. A native of Vallejo, California, Sabathia "thought I wanted to be close to home," but after "pretending" the Yankees didn't offer him a contract on the first day of free agency, his wife persuaded him to sign with the Bronx Bombers following an in-home meeting with general manager Brian Cashman. "My wife was the one that said: 'You're trying to do all these different things, figure out all these contracts. You need to go where they want you. All you talk about is you want to win, be a winner and all these things. How can you not go to New York? That's the one place they try to win every single year.' When she put it that way, it was like I was born to be a Yankee," Sabathia said. "And I think for the longest time I tried to run away from that because my father would always tell me I was going to play for the Yankees. He passed away when I was 23, so he wasn't there to tell me it was OK if I failed. I think I was scared to go there and fail. But it ended up being the best decision I ever made. I ran from that decision for a long time. I thought I wanted to play on the other coast, but I think I was born to play with the pinstripes." Suzuki and Sabathia were teammates for more than two seasons, which makes their induction extra special. "It feels like we're teammates. Obviously, Ichi and I were rookies together. I always say he stole my Rookie of the Year award (in 2001) so it's great to be able to go in the HOF with him and Billy," Sabathia said. Sabathia went 251-161 with a 3.74 ERA and 3,093 strikeouts, third among left-handers behind Randy Johnson and Steve Carlton, during 19 seasons with Cleveland, Milwaukee and the Yankees. While Sabathia and Suzuki were elected in their first appearance on the ballot, Wagner made it on his 10th and final try. "Well, after seeing how a lot of guys like Lee Smith and Ted Simmons and (other) guys had to wait their turn to get to this point and go through the veterans committee, and how hard it is to get in here, you know, it's well worth the wait," Wagner said. Wagner, a seven-time All-Star, became the ninth pitcher in the Hall who was primarily a reliever, after Hoyt Wilhelm, Rollie Fingers, Dennis Eckersley, Bruce Sutter, Goose Gossage, Trevor Hoffman, Lee Smith and Mariano Rivera. Wagner is the only left-hander. Two others honored Saturday were longtime Cleveland Guardians broadcaster Tom Hamilton, winner of the Ford C. Frick Award for broadcasting, and retired Washington Post sports writer and columnist Tom Boswell, who received the BBWAA Career Excellence Award.
Yahoo
4 days ago
- Business
- Yahoo
BofA Reiterates a Sell Rating on ZIM Integrated Shipping Services (ZIM)
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) is one of the best shipping and container stocks to invest in now. On July 16, Muneeba Kayani, an analyst from Bank of America Securities, reiterated a Sell rating on ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) with an associated price target of $14.80. A fleet of vessels docking at a busy harbor, signaling the company's presence in global marine shipping. The analyst based the rating on factors affecting ZIM Integrated Shipping Services Ltd.'s (NYSE:ZIM) financial outlook, stating that a notable reason is the expected drop in the Transpacific freight rates, which may decline by 10% sequentially in Q2, with an additional substantial drop expected in H2 2025. Kayani attributed this decline to an oversupply in the container shipping industry, backed by increased capacity after an easing of the US-China tariffs. The analyst also reasoned that although ZIM Integrated Shipping Services Ltd.'s (NYSE:ZIM) 2025 earnings are at the upper end of guidance, management lowered the adjusted EBITDA estimate by 3% to $2.1 billion, aligning with consensus estimates. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) provides shipping and logistics services, including the transportation of refrigerated cargo, out-of-gauge cargo, and dangerous and hazardous cargo. While we acknowledge the potential of ZIM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
Drewry WCI slides 3% as pre-tariff rush fades
The Drewry World Container Index (WCI)—a composite measure of container freight rates—declined for the sixth consecutive week, falling by 3.22 per cent to $2,517 per 40-foot equivalent unit (FEU) on July 24, down from $2,602 per FEU the previous week. This ongoing downturn follows an earlier period of volatility triggered by higher US tariffs announced in April this year. The market's reaction to the tariffs was delayed by about a month, with rates beginning to climb in May and surging through the first week of June. However, this trend has since reversed, with rates falling consistently since mid-June, indicating that the tariffs' initial market impact was not sustained. Drewry World Container Index fell 3.22 per cent to $2,517/FEU on July 24, marking its sixth straight weekly decline. Transpacific rates dropped sharply, with Shanghaiâ€'New York down 7 per cent. As pre-tariff shipping demand fades, rates are expected to continue falling. Drewry warns of further weakness in H2 2025, amid uncertainty over President Trump's tariffs and potential US penalties on Chinese vessels. Transpacific spot rates declined this week, with Shanghai–Los Angeles rates down 5 per cent ($2,675/FEU) and Shanghai–New York down 7 per cent ($4,210/FEU). With the temporary suspension of higher US tariffs on Chinese products set to end in mid-August, shipping lines are cutting services across the Pacific by cancelling more sailings. As the rush to ship cargo before the tariff increase is now over, Drewry expects spot rates on this trade lane to continue falling next week. Rates from Shanghai to Rotterdam dipped 1 per cent to $3,286 per 40-foot container, while Shanghai to Genoa fell 2 per cent to $3,376. Rotterdam to Shanghai remained steady at $495, and New York to Rotterdam was also stable at $875. However, rates from Rotterdam to New York increased by 2 per cent to $2,033 per 40-foot container. Drewry's Container Forecaster expects the supply-demand balance to weaken again in the second half of 2025, which will cause spot rates to decline. The volatility and timing of these rate changes will depend on President Trump's future tariff decisions and capacity shifts related to the possible introduction of US penalties on Chinese ships, which remain uncertain. Fibre2Fashion News Desk (KUL)
Fibre2Fashion
18-07-2025
- Business
- Fibre2Fashion
Drewry WCI falls for fifth week, downtrend may persist
The Drewry World Container Index (WCI)—a composite measure of container freight rates—declined for the fifth consecutive week, falling by 2.61 per cent to $2,602 per 40-foot equivalent unit (FEU) on July 17, down from $2,672 per FEU the previous week. This continued decline follows a period of volatility triggered by higher US tariffs announced in April. The market reaction was delayed by about a month, with rates beginning to rise in May and peaking in the first week of June. However, the trend has since reversed, with rates consistently falling since mid-June, indicating that the initial impact of the tariffs was short-lived. Drewry WCI fell for the 5th straight week, dropping 2.61 per cent to $2,602 per FEU on July 17. Rates have declined since mid-June, reversing gains from earlier tariff-driven hikes. Transpacific spot rates slipped further, though remain above early May levels. Drewry forecasts continued rate declines in H2 2025, citing weak demand and uncertainty over future US tariffs and penalties on Chinese vessels. Transpacific spot rates fell this week, with rates on the Shanghai–Los Angeles route down 4 per cent to $2,817 per FEU, and Shanghai–New York down 6 per cent to $4,539 per FEU. Despite the recent decline, both lanes remain above their levels from 10 weeks ago, when tariff concerns first began to drive rates higher. Spot rates from Shanghai to Los Angeles are still 4 per cent higher, while rates to New York are 24 per cent higher than on May 8. Drewry expects rates on these trade lanes to continue declining due to weak demand. Rates from Shanghai to Rotterdam dipped 1 per cent to $3,334 per 40-foot container, while Shanghai to Genoa fell 1 per cent to $3,450 per 40-foot container. Conversely, freight rates increased on several backhaul routes: Rotterdam to Shanghai rose 2 per cent to $495, New York to Rotterdam edged up 1 per cent to $876, and Rotterdam to New York increased by 1 per cent to $2,001 per 40-foot container. Drewry's Container Forecaster expects the supply-demand balance to weaken again in the second half of 2025, which will lead to further declines in spot rates. The volatility and timing of rate movements will largely depend on President Trump's future tariff decisions and potential capacity shifts related to US penalties on Chinese ships, which remain uncertain. Fibre2Fashion News Desk (KUL)
Business Insider
25-06-2025
- Business
- Business Insider
FedEx says customer concerns increased, volume softened after tariff declaration
Says in a challenging demand environment. Says encouraged by sequential improvement of FedEx (FDX) Freight. Says uniquely positioned to be a valuable partner to customers as they navigate shifting demand trends, evaluate the impact of tariffs on their businesses and adjust their supply chains. Says global demand environment remains volatile. Says expects to achieve $1B of transformation related savings in FY26. Says following the April 2 tariff announcement, customer concerns increased and as a result, volume softened. Says in early May, upon tariff implementation, China to U.S. volumes deteriorated sharply and remained weak throughout the rest of the quarter. Says international export revenue was flat, reflecting the tariff related impact on Transpacific trade lane. Comments taken from Q4 earnings conference call.
