News Media
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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.
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[GLOBAL & ECONOMY] Dollar tumbles from 20-year high as US inflation eases - NOVEMBER 20 2022
Date : 2022-12-01
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[LOGISTICS] Shipping rates are no longer plunging. Is ‘new normal’ near?
Date : 2022-11-17
Ocean shipping spot rate indexes are still falling. But after months of steep declines, they’re dropping much less rapidly than before. It could be just a temporary plateau before the next leg down. Or it could be something more significant: the firs...
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[LOGISTICS] Union vs. Union Dispute Stalls West Coast Port Labor Talks - Nov. 8, 2022
Date : 2022-11-17
A dispute between two unions over which workers get certain jobs at a cargo-handling terminal at the Port of Seattle is holding up labor talks between West Coast dockworkers and their employers.
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[AIR] DB Schenker launches CO2-neutral air freight worldwide - Nov 11, 2022
Date : 2022-11-17
DB Schenker is expanding its portfolio of climate-friendly logistics solutions, opening the next chapter in green transport in air freight. Customers now have the option of choosing Sustainable Aviation Fuel (SAF) for their air transportation from an...
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Date : 2022-11-17
The industry is witnessing a major slump in the order-to-inventory ratio with high inventories but slower demands. According to the November edition of the Container xChange Forecaster, this leaves a rippling effect across different stages of contain...
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[OCEAN] After steep September slide, US imports stabilize in October - November 08, 2022
Date : 2022-11-17
The outlook for U.S. imports looked ominous in September, when volumes plummeted double digits, both year on year and compared to August. If imports had continued to collapse at September’s pace, they would have sunk below pre-COVID levels in October...
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Date : 2022-11-17
As the US and its allies try to reinforce their mineral supply chains to cut dependence on China, Africa will help bridge the supply deficit for minerals essential to the green energy transition, observers say.
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[GLOBAL & ECONOMY] UK business confidence hits lowest level since 2009 - November 14, 2022
Date : 2022-11-17
UK business confidence fell to 18% in October — its lowest level in at least 13 years, new data has shown. According to Accenture and S&P Global's latest UK business outlook report, this compared with net balances of confidence of 28% in June and 56...