The Port of Long Beach has reported its busiest September ever, with cargo volumes increasing by 11.8% compared to the same period last year. This is the first monthly year-over-year cargo increase for the port in 14 months. The increase was driven by high consumer demand for holiday-related goods, as well as the recent […]
Read MoreThe air cargo industry has seen some improvement in recent weeks, with rates tightening and demand increasing. However, experts remain cautious, warning that it may be too early to celebrate a full recovery. The Baltic Exchange Airfreight Index (BAI) rose 0.7% in the week to October 9, cutting its year-on-year decline to -29.2%. This […]
Read MoreFreight rates are higher and scheduling complications are worse than pre-COVID ‘normal’. Container rates for U.S. imports have normalized. Rates for America’s exports have not. Both spot and contract rates for U.S. exports are still up double digits from pre-COVID levels. And rates are not the biggest cost issue exporters face, according to Peter […]
Read MoreChina’s imports from Russia surged to $11.5 billion in August, the highest monthly haul in over two decades, despite an overall decline in its purchases of foreign goods. The surge comes as trade between the two neighbors’ booms in the wake of Western sanctions on Russia over its invasion of Ukraine. Bilateral trade between […]
Read MoreThe philosopher Jose Ortega y Gasset once said, “We do not know what is happening to us, and that is precisely the thing that is happening to us.” This quote is apt for the current state of the Americas, where technological transformation, massive migration, rampant crime, and sluggish economies are remaking politics and weakening democratic […]
Read MoreDespite declining exports to its main market, the United States, container activity remains high at China’s major ports. This is because the country has found new buyers elsewhere, such as Europe, India, the Middle East, and South America. Deflation has also become an asset for Chinese exports, as it lowers importers’ prices. Figures from the […]
Read MoreThe Brics bloc is expanding to include six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). This move is a sign of the growing economic and political power of the Global South, and it raises important questions about the future of multilateralism in a world where geopolitics is increasingly […]
Read MoreAir cargo demand has continued to decline in recent months, with no signs of a peak season despite some expressing hopes of a recovery in the final months of the year. The latest data from Xeneta-owned CLIVE Data Services shows that in August demand in chargeable weight terms declined by 1% year on year […]
Read MoreUnited Parcel Service (UPS) is offering severance packages to hundreds of pilots as the company adjusts to lower demand levels. The express giant has been busy reducing its fleet of aircraft and retiring older planes in recent months. The company said that it is offering the severance packages as part of its “effort to […]
Read MoreRecent Inflation Developments The Federal Reserve’s Strategy to Tame Inflation The Federal Reserve is making progress in its efforts to tame inflation. Headline inflation has slowed from its peak of 8.9% in June 2022 to 3.3% in July 2023. This deceleration has been driven by lower food and energy prices. Core inflation, which excludes […]
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