Ocean freight rates from Asia to Europe soared ahead of the carriers’ June 1 general rate increases, fueled by growing congestion at major ports and a shift in vessel deployment toward the booming Asia-U.S. trade lane. Severe delays at key port hubs on both ends of the Asia-Europe route are absorbing available capacity. At the […]
Read MoreFollowing a trade de-escalation agreement between the United States and China announced on Monday, May 12, the White House released an Executive Order outlining how the temporary tariff suspension will be implemented. The order addresses ad valorem duty rates, tariff classifications, and de minimis thresholds affecting goods imported from China and Hong Kong. Key Provisions […]
Read MoreThe suspension of China–U.S. shipments and a wave of blank sailings on the trans-Pacific trade lane may lead to a significant redistribution of vessel capacity, according to Alexandra Ilascu of Kuehne + Nagel. Speaking during the Journal of Commerce’s Asia-Europe webinar, Ilascu warned that these shifts are likely to impact other trade routes, including Asia-Europe […]
Read MoreAir cargo demand rebounded in March, driven in part by businesses accelerating shipments ahead of anticipated U.S. tariff changes. According to the International Air Transport Association (IATA), global airfreight demand, measured in cargo tonne kilometers (CTK), rose 4.4% compared to the same month last year. Capacity also increased by 4.3%, while the cargo load factor […]
Read MoreA renewed push to revive US commercial shipbuilding is stirring debate, following the Biden administration’s decision—carried over from a Trump-era stance—to levy steep fines on Chinese-built and Chinese-owned vessels. Announced on April 17 by the Office of the United States Trade Representative (USTR), the policy aims to send a “demand signal for US-built ships,” according […]
Read MoreA recent report from consultancy firm Trade Partnership Worldwide has raised concerns over the potential impact of heightened tariffs and port fees on the US apparel trade. If current tariff hikes become permanent and additional fees on Chinese vessels are enforced, the US could see a noticeable decline in clothing imports, the study warns. While […]
Read MoreRising trade tensions between the United States and China are expected to trigger significant shifts in Asia’s supply chain dynamics, as regional manufacturers look to diversify markets and mitigate risks, according to Indian industry sources. Speaking to the Journal of Commerce, several experts noted that Chinese exporters, grappling with declining demand from the US due […]
Read MoreThe global maritime sector is navigating turbulent waters as the U.S.-China trade war continues to fuel widespread uncertainty. Industry leaders say the constantly evolving tariff landscape has made long-term planning nearly impossible. Jacob Winthereik, interim CEO of Lauritzen Bulkers, noted that with new tariffs being introduced or modified almost weekly, the industry sees no signs […]
Read MoreOverview of Tariff Adjustments Effective immediately, the Executive Order introduces revised reciprocal tariff rates to align with global trade dynamics and address retaliatory measures by trading partners. These changes aim to promote fair trade practices while supporting domestic industries. Updated Tariff Structure Products Originating from China, Hong Kong, or Macau Applicable tariffs include: Commodity-specific Most-Favored-Nation […]
Read MoreAirfreight rates continued their upward trend last week as businesses sought to transport goods ahead of the anticipated announcement of sweeping new U.S. tariffs. According to data from TAC, compiled for the Baltic Air Freight Index, overall air cargo rates increased by 2.4% in the week ending March 31, reflecting a 5.1% rise compared to […]
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