News Media
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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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[LOGISTICS] 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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[LOGISTICS] 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.
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[OCEAN] Hapag-Lloyd CEO: Container market volatile but not collapsing - November 10, 2022
Date : 2022-12-01
Hapag-Lloyd CEO Rolf Habben Jansen put a positive spin on the container shipping downturn during a conference call Thursday as his company logged yet another quarter for the record books.
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[OCEAN] Zim flew higher in shipping boom, falls faster as market sinks - November 16, 2022
Date : 2022-12-01
Ocean carrier Zim outperformed its much larger rivals at the peak of the container shipping boom. It’s still raking in over a billion dollars a quarter, but as the market corrects, it’s falling back to Earth faster than others.
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Date : 2022-12-01
The rise of trade barriers against China and other countries over the past year could cost the global economy $1.4 trillion, on top of the severe damage being done by the war in Ukraine, the head of the International Monetary Fund said.
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[GLOBAL & ECONOMY] How Europe’s Energy Crisis Could Turn Into A Food Crisis - Nov 20, 2022
Date : 2022-12-01
Runaway energy price inflation has wreaked havoc on European industrial activity, with the heaviest consumers taking the brunt. Aluminum and steel smelters are shutting down because of energy costs. Chemical producers are moving to the United States....
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Date : 2022-12-01
Turkey’s rate-cutting streak is set to continue when policymakers meet on Thursday, as its president calls for its key interest rate to fall to single digits this year, even as inflation accelerates past 85 per cent.
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[GLOBAL & ECONOMY] Russia’s War Rewires Trade, the Cost of Shipping Oil Surges - November 20, 2022
Date : 2022-12-01
Oil tanker tycoons are enjoying a surge in revenue as the sanctions triggered by Russia’s war are redrawing the global trade in crude. And it’s set to last.