International trade growth will not match the global economic pace over most of the next decade, according to a new report by the Boston Consulting Group (BCG). Trade patters will change even as the war in Ukraine is reshaping strategic alliances and altering the flow of cross-border commerce. World trade’s annual expansion rate […]
Read MoreTaking stock of developments in the maritime industry in 2022, one must be content: Every segment experienced a performance ranging from good to outstanding. From offshore to cruise ships and LNG vessels, shipping markets were overall profitable in 2022, in stark contrast to extremely poor markets of a couple of years earlier. Everyone’s mind is […]
Read MoreWith Chinese New Year starting Sunday, and manufacturing and logistics operations virtually shut down there for two weeks, experts say retail inventory levels are in a good place given recent gluts and proactive restocks, but the weeks following will bear watching and might bring issues. System shutdowns related to Chinese New Year, which runs from […]
Read MoreWith factories already closing in China, ahead of next week’s new year holiday, airfreight rates on major routes have continued to decline. One source reported that factories were closing early: in part, because some staff did not get a holiday last year owing to Covid lockdowns, partly because of new Covid cases and also […]
Read MoreThe WSJ’s Sarah Nassauer, Suzanne Kapner and Nick Timiraos report the trends on store shelves may be another sign that inflation is starting to turn a corner. Many companies raised their prices substantially last year to offset higher fuel costs and higher prices for ingredients, parts and labor. Now, some of those costs are coming […]
Read MoreEconomic pressures continue to hamper consumer spending, and industry players are not expecting to see the usual increase in demand as factories close for the two-week holiday. According to a global freight forwarder, the year-end holiday in 2022 did not deplete stock levels. For this reason, a limited uptick in demand is expected after the […]
Read MoreAnalysts and transportation companies agree that despite ongoing COVID challenges in China, it will not result in a widespread crisis leading to a shortage of goods and congestion in supply chains. The decline in China’s industrial production cannot be solely attributed to a lack of Chinese labor due to the pandemic. It is also a […]
Read MoreChinese container exports which typically spike in the weeks leading up to Chinese New Year (CNY), faced a drop in prices and continues to downtrend, performing the worst in 13 years, according to chief shipping analyst at BIMCO, Niels Rasmussen. “Spot rates for containers loading in Shanghai will normally be 12% higher just before […]
Read MoreDrewry’s WCI Asia-North Europe index recorded a 10% increase in the spot rate reading from pre-Christmas levels yet, export demand to North Europe ahead of the Chinese Lunar New Year (CNY) remains dampened and that is expected to continue post-holiday. Lars Jensen, CEO of Vespucci Maritime says the rate spike on the tradelane needed to […]
Read MoreA slowdown in production typically takes place in the period around the Chinese Lunar New Year (CNY) with shipping lines blanking sailings to balance supply with demand. Yet, despite a market faced with stagnated demand growth and declining freight rates, carriers have not acted to reduce additional capacity during CNY 2023. Sea-Intelligence data […]
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