Belgian authorities are planning to increase container scanning using artificial intelligence (AI) at its ports, focusing on shipments from high-risk areas like Latin America to combat drug smuggling. Currently, only 5% of containers entering the country’s ports are scanned, according to Belgium’s customs chief, Kristian Vanderwaeren. The measure is part of a broader effort to […]
Read MoreVenture capital firms are investing less in supply chain technology startups this year, as the freight market weakens, and investors become more cautious. In the first half of 2023, venture firms invested $5.7 billion in logistics companies, down from $22.7 billion in the same period last year, according to PitchBook Data. This pullback has forced […]
Read MoreOcean carriers are facing the threat of lower contract rates in 2024, as spot market prices remain under pressure. A new analysis by Xeneta shows that its long-term freight rate index declined by 2.6% in October and has fallen by 62.2% in the past 12 months. The firm expects the decline to continue in the […]
Read MoreThe Panama Canal Authority (ACP) has announced further restrictions on ship crossings, starting February 1, 2024, in response to an intensifying drought that has caused water levels in the canal to reach record lows. The drought, which is being blamed on the El Niño weather pattern, has had a significant impact on global trade, with […]
Read MoreAfter a period of dominance by East Coast and Gulf Coast ports, the momentum has shifted back to the West Coast. Imports from Asia are starting to head back to America’s Pacific gateways, with the West Coast regaining some lost ground. There are a few factors driving this shift. First, the labor issue on the […]
Read MoreAfter four weeks of gains, spot container freight rates are expected to decline in November, as shipping lines continue to add capacity despite weak demand. The Shanghai Containerised Freight Index (SCFI) closed on 3 November with Transpacific rates still up, but Shanghai-North Europe rates had already begun to retreat. This is due to carriers adding […]
Read MoreThe logistics industry is undergoing significant changes, with trade flows shifting and the structure of e-commerce evolving. However, air cargo is still well-positioned to play a vital role. In the US market, Laredo on the US-Mexico border has surpassed the Port of Los Angeles as the biggest gateway for imports for the eighth consecutive month. […]
Read MoreAir cargo demand hopes for a late-year surge faded in October, with data showing only a slight increase in demand. Xeneta, a data provider, reports that air cargo demand rose 2% in October compared to September, which it describes as “sub-seasonal” compared to the previous five years. General air cargo spot market rates also increased […]
Read MoreAir freight rates on major east-west routes rose faster than expected in October, as the industry entered its traditional peak season. The Baltic Exchange Airfreight Index (BAI) showed that average spot and contract rates from Hong Kong to North America increased by 18.4% compared with September to $5.80 per kg. This is still 13.9% […]
Read MoreThe International Road Transport Union (IRU) has warned that the global truck driver shortage has become a “chronic problem” that is posing a significant risk to supply chains and economic growth. In a new report, the IRU estimates that there is a shortfall of over 2.8 million truck drivers worldwide, and that this figure is […]
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