Southeast Asian governments have been beckoning foreign firms with cheaper labor, tax breaks and improved logistics as China’s Covid woes rumble on But analysts say the likes of Malaysia, Thailand, Vietnam and Indonesia will long struggle to match China’s deep, integrated supply chain network Global manufacturers have spread their bets to Southeast Asia – with […]
Read MoreOn February 23, the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) jointly released a statement affirming that they are still engaged in negotiations and are optimistic about achieving a deal in the near future. The parties have also agreed not to discuss the ongoing negotiations in the media. The announcement […]
Read MoreAccording to Uber Freight’s first-quarter update on global freight markets, trucking operators are expected to face unfavorable market conditions in the first half of 2023. The truckload supply has exceeded demand, which is attributed to decreased imports and lower consumer spending. The market weakness is likely to continue due to a broad-based volume recession, […]
Read MoreNegotiations between West Coast dockworkers and marine terminal employers have resumed following a nine-month stalemate due to a jurisdictional dispute over Terminal 5 in Seattle. The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) have agreed to set the matter aside and focus on negotiating a new contract, as the […]
Read MoreAsia Trade Lane Price Drop The contrast between the import rates from Asia in 2022 and those in 2023 is quite striking. Just half a year ago, it was not unusual for ocean rates to be in the five-figure range. However, presently, the shipping industry has become fiercely competitive with rates dropping even below the […]
Read MoreThe average contract cost to ship a container from China to the U.S. West Coast fell from $8,607 last April to $2,618 in February Retailers in the U.S. hope to slash shipping costs and save millions of dollars when they sit down later this month to negotiate long-term contracts with ocean carriers following last year’s […]
Read MoreThe January inflation rate was slightly higher than expected, with the government reporting a 0.5% increase compared to economists’ expectation of a 0.4% increase. In the past year, inflation has risen by 6.4%, which is 0.2% higher than expected. The core rate, which excludes food and energy prices, rose by 0.4% in January, which […]
Read MoreAccording to the Baltic Exchange Airfreight Index (BAI), the rates paid for airfreight services from Hong Kong to North America and Europe in January 2023 have declined year-over-year, but still remain 67.8% higher than pre-COVID levels. The elevated rates can be attributed to a combination of factors including higher fuel prices, a shortage of belly […]
Read MoreThe ports of Long Beach and Los Angeles have released a final report on the current state and overall feasibility of using clean, heavy-duty drayage truck technology throughout the San Pedro Bay port complex. The two mega container ports in California have jointly released a draft assessment in August 2022 for public review and […]
Read MoreChina said on Friday that cross-border travel between the mainland, Hong Kong and Macau would fully resume from Monday Feb 6th, dropping existing quotas and scrapping a mandatory Covid-19 test that was required before travelling. Group tours between China and the two special administrative regions will resume, while the number of Customs checkpoints open […]
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