The global seaborne commodities trading map continues to be redrawn at a blistering pace in the wake of the Russian invasion of Ukraine two weeks ago. Yesterday, the United States announced a ban on Russian oil and other energy imports. “We’re banning all imports of Russian oil and gas and energy,” President Joe Biden said […]
Read MoreThe spectre of blank sailings may be about to return to haunt shippers and forwarders on the Asia-Europe trades, as carrier begin to cancel departures in an effort to restore schedule reliability. Japanese carrier ONE this morning told customers THE Alliance would cancel three sailings on the FE2 and FE3 service departing Asia at the […]
Read MoreVessel capacity and service have been prioritized above price. Retailers and Importers have signed long-term contracts at significantly higher levels in Trans-Pacific Eastbound trades than in previous years, Xeneta reported. Rates have continued to climb the past two months even as contract negotiations continue. “Trans-Pacific contracts are catching up with spot market rates,” Alan Murphy, […]
Read MoreThe southern China air freight market has changed “dramatically” as Covid rages in Hong Kong, severely impacting the local trucking market to and from the mainland. Forwarders estimate there is a 70% cut in truck capacity, further diminishing Hong Kong’s air export market. “Cross-border trucking has been impacted a lot, mainly due to truckers being […]
Read MoreRussian import bookings declined 40% over the past week and will obviously fall further after growing ~64% in 2021 from the previous year, resulting in a 75% increase in goods by value, according to the Census Bureau. This put the imported goods value at its highest level since 2012. This direct economic hit will more than […]
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