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OCEAN [Los Angeles Port Chief Sees Labor Deal by Early Next Year -December 1, 2022
Date : 2022-12-23
The chief of the busiest US West Coast port expects a new labor contract for dockworkers in the region to be reached by early February, removing uncertainty for importers and ramping up a campaign to lure back cargo lost to East and Gulf Coast.
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OCEAN [Container shipping rates still sinking, no sign yet of market floor] - December 02, 2022
Date : 2022-12-23
So much for the theory that container lines are a nefarious cartel that can control freight pricing — spot rates are still falling over a year after they peaked.
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Date : 2022-12-23
OPEC+ responded to surging volatility and growing market uncertainty by keeping oil production unchanged. The outcome of the brief online meeting on Sunday reflects the unpredictability of supply and demand in the coming months, and the wild price...
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GLOBAL & ECONOMY [ECB’s Villeroy Wants 50 Basis-Point Hike to Fight Inflation] - December 5, 2022
Date : 2022-12-23
The European Central Bank should raise interest rates by 50 basis points this month to help tame surging consumer prices, said Governing Council member Francois Villeroy de Galhau, who added that inflation will peak during the first half of 2023.
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GLOBAL & ECONOMY [Even BOJ Dove Noguchi Sees Signs of Japan Inflation Taking Hold] -December 1, 2022
Date : 2022-12-23
Even one of the strongest easing advocates on the Bank of Japan’s board said that a shift in Japan’s long-held deflationary price norms is beginning to materialize, although he didn’t hint at any policy change soon.
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Date : 2022-12-23
China's strict zero-COVID policy complicated the global economic recovery. The country has tried to eliminate all cases of COVID-19, but three years later, frequent lockdowns and strict quarantine guidelines have led to food shortages, delayed hea...
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Date : 2022-12-23
Investors are eyeing everything from the U.S. healthcare sector to UK stocks and gold as potential havens during a recession, as worries grow that the Federal Reserve's interest rate increases will bring on an economic downturn next year.
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[LOGISITCS] The Diesel Crisis Is Going Global - Nov 26, 2022
Date : 2022-12-01
A perfect storm in global diesel markets is unfolding. Refining capacities are tight, and stockpiles are being depleted as the Northern Hemisphere cold season begins. Supply crunches could jeopardize critical transportation networks since the industr...
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Date : 2022-12-01
Unionised truckers in South Korea kicked off their second major strike in less than six months on Thursday, threatening to disrupt manufacturing and fuel supplies for industries from autos to petrochemicals in the world's 10th-largest economy.
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[AIR] No signs of any Q4 air cargo peak this year - Nov 25, 2022
Date : 2022-12-01
Global air cargo volumes have remained stubbornly flat in the last two weeks after dropping in the first few days of November, with this year’s fourth quarter (Q4) more of a plateau rather than the usual seasonal peak, the latest preliminary figures ...
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[OCEAN] Box rates could deteriorate to pre-Covid levels in December - November 25, 2022
Date : 2022-12-01
Further slides in the Shanghai Containerized Freight Index (SCFI) are continuing, and it is expected that in December, freight levels will be at pre-pandemic levels.
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[OCEAN] HMM’s Share of Asia-U.S. West Coast Route Falls to 4% Range - November 22, 2022
Date : 2022-12-01
HMM’s share of the Asia-U.S. West Coast route has fallen to the 4 percent range in seven years. The route accounts for more than 40 percent of HMM’s sales. The drop in HMM's market share is because not only large shipping companies but also small and...
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[GLOBAL & ECONOMY] Charting the Global Economy: OECD Raises Inflation Forecast - November 26, 2022
Date : 2022-12-01
Central banks around the world must be steadfast in their inflation fight even though economies will suffer as a result, the OECD said this week.
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Date : 2022-12-01
The euro zone probably endured a second month of double-digit inflation in November, according to analyst forecasts before crucial data awaited by European Central Bank officials.
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Date : 2022-12-01
Russia’s economy shrank for a second quarter as the shock of sanctions over the Kremlin’s invasion of Ukraine disrupted trade and upended domestic demand, with the worst of the downturn likely early next year.
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Date : 2022-12-01
China’s economic activity slumped in November and could drop further in coming weeks as Covid outbreaks spread across the country and protests against tighter virus restrictions escalate.
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Date : 2022-12-01
Wall Street’s biggest banks told the Federal Reserve ahead of its November policy meeting that they had increased their estimation of how far the central bank would raise rates.
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[LOGISITCS] Third U.S. union rejects national rail contract deal - November 15, 2022
Date : 2022-12-01
A third U.S. rail union voted on Monday to reject a tentative national contract reached in September, but expects to continue negotiating to reach a deal.
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[LOGISTICS] Diesel price increase affects trucking industry - November 21, 2022
Date : 2022-12-01
Nationwide, truckers and trucking companies have been dealing with the rising prices of diesel since this summer. They say they are seeing no sign of these prices coming down.
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[LOGISTICS] Carriers in ‘Panic Mode’ as China Bookings Plummet - November 18, 2022
Date : 2022-12-01
Ocean carriers are said to be in “panic mode” as bookings from China to North Europe and the US west coast tank, causing FAK rates to plunge to new depths.