[WORLD NEWS] Japan’s GDP revised sharply higher, grew 2.7% in the first quarter on robust spending_WED, JUN 7 2023

Date : 2023-06-20

Japan’s economy grew an annualized 2.7% in the first quarter of the year, expanding further than earlier estimates of 1.6% made last month, government data showed Thursday. Economists surveyed by Reuters had expected to see growth of 1.9%. The Jap...

[WORLD NEWS] Europe Faces an Inflation-Regime Reckoning Over Climate Goals_June 17, 2023

Date : 2023-06-20

The transition to a lower-carbon economy may fuel inflation — but raising interest rates in response to that could hinder investment in cleaner energy. So monetary policy and efforts to save the planet risk working against each other, casting a shado...

[WORLD NEWS] China’s economy is on course for a 'double dip'_June 19, 2023

Date : 2023-06-20

China prides itself on firm, “unswerving” leadership and stable economic growth. That should make its fortunes easy to predict. But in recent months, the world’s second-biggest economy has been full of surprises, wrong-footing seasoned China-watchers...

[WORLD NEWS] Goldman Says Markets Too Optimistic on Pace of US Inflation Drop_June 17, 2023

Date : 2023-06-20

Investors could be assuming that a sharp deceleration in growth will lead to a more rapid easing of price pressures, and tending to be more bearish on energy prices than what is implied by commodities futures, strategists led by Praveen Korapaty wrot...

[OCEAN] For ILWU, West Coast port deal to be union-ratified, here’s what has to happen next_THU, JUN 15 2023

Date : 2023-06-20

West Coast port management and the labor union representing port workers reached a tentative deal late on Wednesday after the intervention of California labor market pro and Biden acting Labor Secretary Julie Su in the negotiations in San Francisco, ...

[OCEAN] Summer Just Started, But the Rhine River is Already Starting to Dry Up_June 16, 2023

Date : 2023-06-20

The German summer may officially be just two weeks old but the Rhine river — a vital artery for the country and other parts of inland Europe — is already seeing water levels low enough to restrict trade. The measured water-level at Kaub, a key cho...

[OCEAN] China's port throughput boosted by foreign trade growth_2023-06-18

Date : 2023-06-20

Amid the heat of a summer morning, Huang Zhiyi, a 34-year-old container crane operator, hopped on an elevator to reach his workstation 50 meters above the ground and started the day of "heavy lifting". All around him, the usual bustling scene was in ...

[OCEAN] Asia-US container rates pull back; USWC ports, dockworkers agree to new deal_16-Jun-2023

Date : 2023-06-20

Shipping container rates from east Asia and China to the US pulled back after surging last week, West Coast ports and dockworkers reached agreement on a new six-year deal, and trucking analysts said the spot market likely bottomed out in April, highl...

[OCEAN] Biggest weekly dive for Drewry’s WCI in six months even as US West Coast congestion looms_June 15, 2023

Date : 2023-06-20

The Drewry World Container Index took its largest ever weekly dive of 5.3% to end at US$1,592, its lowest in 36 months, as transpacific rates returned to lead the weekly dip. Despite the signaling looms of congestion in the US West Coast owing to ...

[LOGISTICS] Borderlands: Exports of Mexican-built cargo trucks up 34% in May_June 18, 2023

Date : 2023-06-20

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Exports of Mexican-built cargo trucks up 34% in May; a California commercial border crossing project receives $140 millio...

[OCEAN] WORLD BANK_THE CONTAINER PORT PERFORMANCE INDEX 2022

Date : 2023-06-20

The purpose of the CPPI is to help identify opportunities to improve a terminal or a port that will ultimately benefit all public and private stakeholders. The CPPI is intended to serve as a benchmark for important stakeholders in the global economy,...

[OCEAN] Cai Mep International Terminal marks new productivity record_June 15, 2023

Date : 2023-06-20

Vietnam's Cai Mep International Terminal (CMIT) handled nearly 7,000 TEUs of import, export, transshipment and empty containers, setting a new productivity record of 233 containers/hour, with Maersk Emden in the TP6/Pearl service of the 2M Alliance, ...

[LOGISTICS] Cyclone shutters already congested ports on India's busy west coast_12/06/2023

Date : 2023-06-20

All Indian ports along the coastline of Gujarat have halted operations until further notice in the wake of Cyclone Biparjoy heading towards the country’s north-west corridor. The affected ports are some of the country’s leading container handlers,...

[GLOBAL & ECONOMY] Ray Dalio says the U.S. is facing a big-cycle debt crisis and warns, ‘Things are going to get worse for the economy’_Thu, June 8, 2023

Date : 2023-06-14

America’s economic troubles are “going to get worse” thanks to a debt crisis and looming balance sheet recession, legendary investor Ray Dalio said Wednesday. Speaking at the Bloomberg Invest conference in New York, Dalio—who in 1975 founded Bridg...

[AIR] WorldACD weekly air cargo trends (week 22): Tonnages continue downward trend in early June_Jun 08, 2023

Date : 2023-06-14

The downward trend in air global cargo tonnages has continued into early June, with average rates also continuing the year-long pattern of slow year-on-year (YoY) decline, according to the latest weekly figures from WorldACD Market Data......

[AIR] Tensions rise as nervous air cargo market suffers lowest rates in May since March 2020_Jun 07 2023

Date : 2023-06-14

Tension is mounting in the global air cargo market heading into the weaker summer months with general airfreight rates falling in May to their lowest level since March 2020 as restless airlines and freight forwarders went in search of volumes, indica...

[OCEAN] Smoke Closes Container Terminals at U.S. East Coast’s Busiest Port

Date : 2023-06-14

Container terminals at the Port of New York and New Jersey closed early Wednesday as thick smoke from Canadian wildfires engulfed the region.....

[OCEAN] The Fed's Inflation Fight Faces a New Challenge: A Dry Panama Canal

Date : 2023-06-14

Federal Reserve Chair Jerome Powell keeps careful track of employment levels, wages, consumer prices and numerous other metrics to see where the US inflation rate may be headed in the next year........

[OCEAN] Drought-Stricken Panama Canal Prepares for El Niño Impacts_June 6, 2023

Date : 2023-06-14

The Panama Canal Authority (ACP) is closely monitoring the development of climatic events that could impact water availability in the region and shipping through the critical waterway......

[OCEAN] West Coast dockworkers making $200K demand higher pay_Wednesday, June 07, 2023

Date : 2023-06-14

Union fight for pay raise now starting to affect ship operations