Air cargo is poised to benefit from a potential decline in ocean shipping reliability in 2024 as the industry grapples with the implications of changes to antitrust regulations. Xeneta chief airfreight officer Niall van de Wouw, speaking at the TIACA executive summit, highlighted the key factors shippers consider when choosing between air and […]
Read MoreChina’s consumer prices remain stagnant and factory-gate prices continue to decline, indicating persistent deflationary pressures in the world’s second-largest economy. The consumer price index (CPI) remained unchanged in September from a year earlier, falling short of the expected 0.2% gain. Core inflation, excluding food and fuel prices, held steady at 0.8%. The producer price […]
Read MoreThe outlook for air cargo demand in 2024 remains uncertain, with industry experts offering a range of projections from flat growth to moderate increases. While there is some optimism that demand could recover from its current slump, ongoing economic and geopolitical uncertainties cloud the picture. At the Tiaca Executive Summit event, Rogier Blocq of […]
Read MoreLogistics depots across Europe are struggling to cope with a surge of empty shipping containers as the economic downturn in the Eurozone and falling trade volumes exacerbate the issue. Industry experts at Container xChange claim that the cost of repositioning empty containers now surpasses their asset value, discouraging container lessors from shipping them back […]
Read MoreBelgian authorities are planning to increase container scanning using artificial intelligence (AI) at its ports, focusing on shipments from high-risk areas like Latin America to combat drug smuggling. Currently, only 5% of containers entering the country’s ports are scanned, according to Belgium’s customs chief, Kristian Vanderwaeren. The measure is part of a broader effort to […]
Read MoreVenture capital firms are investing less in supply chain technology startups this year, as the freight market weakens, and investors become more cautious. In the first half of 2023, venture firms invested $5.7 billion in logistics companies, down from $22.7 billion in the same period last year, according to PitchBook Data. This pullback has […]
Read MoreOcean carriers are facing the threat of lower contract rates in 2024, as spot market prices remain under pressure. A new analysis by Xeneta shows that its long-term freight rate index declined by 2.6% in October and has fallen by 62.2% in the past 12 months. The firm expects the decline to continue in the […]
Read MoreThe Panama Canal Authority (ACP) has announced further restrictions on ship crossings, starting February 1, 2024, in response to an intensifying drought that has caused water levels in the canal to reach record lows. The drought, which is being blamed on the El Niño weather pattern, has had a significant impact on global trade, […]
Read MoreAfter a period of dominance by East Coast and Gulf Coast ports, the momentum has shifted back to the West Coast. Imports from Asia are starting to head back to America’s Pacific gateways, with the West Coast regaining some lost ground. There are a few factors driving this shift. First, the labor issue on […]
Read MoreAfter four weeks of gains, spot container freight rates are expected to decline in November, as shipping lines continue to add capacity despite weak demand. The Shanghai Containerised Freight Index (SCFI) closed on 3 November with Transpacific rates still up, but Shanghai-North Europe rates had already begun to retreat. This is due to carriers adding […]
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