WASHINGTON/LOS ANGELES, June 5 (Reuters) – Major retailers and manufacturers are urging the White House to step in and mediate the labor negotiations at West Coast ports, expressing concerns about potential disruptions to shipping during crucial holiday shopping seasons. This call comes after the closure of the largest terminal at the Port of Long Beach […]
Read MoreThe official manufacturing purchasing managers’ index (PMI) came in at 48.8, down from 49.2 in April. This marks the second consecutive month that the PMI has fallen below the 50-point mark, which separates contraction from expansion. The decline in the PMI was driven by a number of factors, including weaker demand, rising costs, and […]
Read MoreBIMCO has recently published its Shipping Market Overview & Outlook for Q2 2023, focusing on the supply and demand dynamics in the container shipping market. The report highlights the challenges faced by liner operators due to a weakened supply/demand balance. Regarding the demand side, BIMCO’s base case scenario suggests that global container volumes will […]
Read MoreAccording to Mike Dean, an automotive equity research analyst at Bloomberg Intelligence, the supply of lithium batteries for electric vehicle (EV) production could face a bottleneck starting in 2025. The growing demand for EVs, fueled by consumer interest and government incentives, is expected to surpass the available capacity for battery production. Dean highlighted that while […]
Read MoreRumors of the U.S. dollar’s decline have been circulating for several weeks, prompting discussions about its future as the dominant currency for global trade since the Second World War. Speculation suggests that the dollar’s influence is waning, fueled by reports of Russia contemplating the use of China’s yuan for international trade and Saudi Arabia considering […]
Read MoreThe outlook for air cargo over the coming year remains mixed with several factors set to impact performance. Speaking at IATA’s World Cargo Symposium in Istanbul, IATA economist Bojun Wang predicted that air cargo demand was set to decline by 4% this year compared with 2022 levels. He said that this reflected the ongoing […]
Read MoreChinese exporters displaying their products at the largest trade fair in the country have expressed concern that their businesses are being impacted by the weak global economy. Some have even frozen investments and reduced labor costs in response. The subdued mood at the Canton Fair in Guangzhou suggests that China’s unexpected surge in exports in […]
Read MoreCanton Fair: Exporters from China adopt a more assertive approach as they compete for foreign buyers. China’s Canton Fair, also known as the China Import and Export Fair, the country’s largest and oldest trade fair, has resumed in-person exhibitions after three years of being held online due to the pandemic. The fair, which began […]
Read MoreNew numbers from the Federal Reserve Bank of New York show that container freight and the flow of goods from A to B are returning to normal across global supply chains. March 2023 figures provided by the US Federal Reserve Bank of New York report the Global Supply Chain Pressure Index (GSCPI) falling to […]
Read MoreWASHINGTON – The National Retail Federation today issued its annual forecast, anticipating that retail sales will grow between 4% and 6% in 2023. In total, NRF projects that retail sales will reach between $5.13 trillion and $5.23 trillion this year. “In just the last three years, the retail industry has experienced growth that would normally take almost a decade by pre-pandemic standards,” […]
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