News Media
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Date : 2023-01-06
The December jobs report and details from the Federal Reserve’s last policy meeting of 2022 will headline a short opening week of 2023 for investors as Wall Street limps into a new year after its worst run since the Global Financial Crisis.
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LOGISTICS [Ship Recycling Market Still Under Pressure] - 21/12/2022
Date : 2022-12-28
The ship recycling has remained under pressure, despite a few positive signs here and there. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “there feels like some renewed vigour in the market this week on the back of some sl...
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Date : 2022-12-28
Imports through the top ten container ports in the U.S. marked the largest overall monthly decline since the financial crisis and likely the largest single month contraction ever, according to industry veteran John McCown.
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AIR [FedEx to outsource more cargo flying in cost-cutting effort] - December 22, 2022
Date : 2022-12-28
FedEx will increasingly rely on outsourced air transport for growth as it pursues an aggressive cost-cutting strategy to resize its delivery network in line with deteriorating market conditions and a structural rebalance in e-commerce sales, executiv...
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Date : 2022-12-28
The year ended in somewhat anti-climactic fashion for long-term ocean freight rates, with the latest data from the Xeneta Shipping Index (XSI®) showing a decline of just 0.1%. Following on from a steep 5.7% month-on-month fall in November, and with w...
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OCEAN [Containers values continue to soften] - 24/12/2022
Date : 2022-12-28
Container values have continued to fall across all sub sectors and age categories in Q4 of 2022. Sale and purchase transactions have dropped steadily across each quarter of the year. In Q4 to date, only 25 sales have been reported, a drop of c.81% ye...
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GLOBAL & ECONOMY [2022 has been a year of brutal inflation] - December 22, 2022
Date : 2022-12-28
“Low inflation is indeed the problem of this era.” Thus said John Williams, president of the Federal Reserve Bank of New York, in late 2019, espousing the dominant view at the time. Fast forward to the present, and the problem is the exact opposite. ...
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GLOBAL & ECONOMY [Oil prices: Predictions for 2023] - December 24, 2022
Date : 2022-12-28
Crude oil prices were on a roller coaster ride in 2022, going north of $130/barrel in March amid the Russian invasion of Ukraine. Today, West Texas Intermediate (CL=F) is trading at around $80 while Brent International (BZ=F) is hovering above $83/ba...
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GLOBAL & ECONOMY [Pound’s Tentative Recovery Masks Worst Year Since Brexit Vote] - December 24, 2022
Date : 2022-12-28
A turbulent year for the pound is coming to an end with little evidence that 2023 will be much different.
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GLOBAL & ECONOMY [How Xi’s Covid catastrophe put the global economy at risk] - December 24, 2022
Date : 2022-12-28
Smoke billows round the clock from the chimneys of Beijing’s crematoriums, as hearses queue outside and body bags pile up in metal containers.
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Date : 2022-12-28
US inflation continued to ease into the end of 2022 and expectations of future increases dropped, reinforcing hopes that the worst bout of price pressures in a generation has finally passed.
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Date : 2022-12-23
Next year’s containerized freight contracts for the eastbound trans-Pacific lane are likely to settle at steep discounts to 2022 as spot pricing continues to slide on the back of large supply and demand imbalances.
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Date : 2022-12-23
2022 had two sides of price changes. There was inflation for things we actually need, like rent, fuel and food. Then, there’s the random stuff we don’t really need, which became absurdly cheap.
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AIR [Tonnages continue to slide while rates remain stable] - Dec 16, 2022
Date : 2022-12-23
Global air cargo tonnages have continued to slide downwards in the first full week of December, while the overall average rate remained stable, ahead of the end-of-year holiday season.
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OCEAN [“If China Sneezes, Shipping Will Catch a Cold”: A Saying More Timely Than Ever] - 16/12/2022
Date : 2022-12-23
With China’s economy slowdown and the COVID-related measures in flux, shipping and more importantly the dry bulk segment is under pressure. In its latest weekly report, shipbroker Allied Shipbroking said that “as China announced last week a series of...
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Date : 2022-12-23
Against a background of extremely weak demand forecasts, ocean carriers are preparing to blank around half their advertised sailings from Asia to North Europe and the US after Chinese New Year on 22 January.
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GLOBAL & ECONOMY [Charting the Global Economy: Fed, ECB and BOE Slow Rate Hikes] - December 17, 2022
Date : 2022-12-23
Three of the worlds’ most influential central banks slowed their pace of interest-rate hikes this week, acknowledging easing price pressures but stressing their jobs to stamp out inflation is far from over.
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Date : 2022-12-23
Europe got hit by roughly $1 trillion from surging energy costs in the fallout of Russia’s war in Ukraine, and the deepest crisis in decades is only getting started.
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Date : 2022-12-23
The Bank of Japan (BOJ) must make its monetary policy framework more flexible and stand ready to raise its long-term interest rate target next year if the economy can withstand overseas risks, former deputy governor Hirohide Yamaguchi told Reuters.
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Date : 2022-12-23
China is likely to see an explosion of COVID-19 cases in coming weeks, experts say, as the country lifts its long-standing and highly unpopular zero-COVID-19 policy.