Air freight rates on major east-west routes rose faster than expected in October, as the industry entered its traditional peak season. The Baltic Exchange Airfreight Index (BAI) showed that average spot and contract rates from Hong Kong to North America increased by 18.4% compared with September to $5.80 per kg. This is still 13.9% […]
Read MoreU.S. Customs and Border Protection (CBP) released fiscal year (FY) 2023 textile enforcement statistics today, demonstrating the agency’s robust efforts to protect American workers and legitimate importers from unlawful textile imports that violate U.S. trade laws and trade agreements. In FY 2023, CBP: Seized more than 5,000 textile shipments valued at more than $129 […]
Read MoreThe International Road Transport Union (IRU) has warned that the global truck driver shortage has become a “chronic problem” that is posing a significant risk to supply chains and economic growth. In a new report, the IRU estimates that there is a shortfall of over 2.8 million truck drivers worldwide, and that this figure […]
Read MoreA recent report by analyst Maritime Strategies International (MSI) predicts a positive outlook for container carriers operating between Asia and North Europe in 2024. The report cites emerging signs of a demand recovery in the medium term, as inventories are replenished. The Trans-Pacific route is expected to experience healthy growth in the upcoming year, while […]
Read MoreThe Port of Long Beach has reported its busiest September ever, with cargo volumes increasing by 11.8% compared to the same period last year. This is the first monthly year-over-year cargo increase for the port in 14 months. The increase was driven by high consumer demand for holiday-related goods, as well as the recent […]
Read MoreIn 2022, U.S. freight trade with China by vessel and air modes of transportation account for 63 and 32 percent, respectively. The remaining 5 percent involves foreign trade zones, mail, and other freight moves that are not identified with a specific mode of transportation. Air freight from China decreased from $223.1 billion in 2021 to […]
Read MoreThe air cargo industry has seen some improvement in recent weeks, with rates tightening and demand increasing. However, experts remain cautious, warning that it may be too early to celebrate a full recovery. The Baltic Exchange Airfreight Index (BAI) rose 0.7% in the week to October 9, cutting its year-on-year decline to -29.2%. This […]
Read MoreBeijing’s global maritime operations double as intelligence-gathering outposts. Introduction: Maritime trade, which accounts for ninety percent of global trade, plays a pivotal role in connecting markets worldwide. However, its vulnerability to disruptions, whether due to pandemics, port congestion, or shipping incidents, underscores the need for safeguarding this critical sector. Unlike traditional naval embargoes, modern warfare […]
Read MoreFreight rates are higher and scheduling complications are worse than pre-COVID ‘normal’. Container rates for U.S. imports have normalized. Rates for America’s exports have not. Both spot and contract rates for U.S. exports are still up double digits from pre-COVID levels. And rates are not the biggest cost issue exporters face, according to Peter […]
Read MoreHere’s why utilizing a cloud-based solution is not only the most advanced but also the most secure way of integrating and operating within the air cargo landscape. Introduction: In the rapidly evolving landscape of global trade and logistics, the air cargo industry stands as a linchpin. To meet the demands of this dynamic sector, innovative […]
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