German transportation provider Hapag-Lloyd reported preliminary nine-month profits and raised its full-year forecast as vessel diversions pushed up shipping rates.

The first-ever Freight Fraud Awareness Day, taking place on Tuesday, aims to unite the supply chain community in tackling schemes like double brokering and cargo theft, which have seen a 400% rise since 2022.

An Illinois trucking company recently notified most of its company drivers that it could “no longer support part of its fleet operations” and terminated their positions “due to current market conditions.”

Shipping stocks are under pressure as some ocean carriers show faith in military protection from Red Sea attacks.