On July 30, there was an unexpected announcement from American firm Bolt Threads, revealing that the production of its mycelium-based leather alternative, Mylo, had come to a halt. Mylo had emerged as one of the most promising and innovative materials in the fashion industry. Notably, renowned designer Stella McCartney collaborated with Bolt Threads to test […]
Read MoreIn the recent Baltic Exchange air cargo market update, two crucial questions were raised regarding the state of rates and volumes in the industry. Addressing the issue of demand, Bruce Chan, director and senior research analyst covering global logistics and future mobility at investment bank Stifel, presented three potential scenarios. In his bullish thesis, Chan […]
Read MoreAs the bustling summer season kicks off, labor disputes have disrupted the flow of shipping in the United States. Members of the International Longshore and Warehouse Union have staged protests, resulting in congestion and delays at U.S. West Coast ports, as reported by CNBC. The average wait times for container vessels attempting to enter Los […]
Read MoreAir cargo capacity is continuing to climb and rose above the pre-pandemic level for the first time in four years, according to the latest market analysis from CLIVE Data Services. Global air cargo capacity increased for the eleventh consecutive month in February, up 11% on the same period last year. Meanwhile, global air cargo volumes […]
Read MoreU.S. Trade Representative Katherine Tai on Thursday rebuffed appeals from senators to begin negotiating trade agreements that would cut tariffs on U.S. agricultural exports. “At this moment we do not have tariff liberalization negotiations going on with a partner,” Tai told the Senate Finance Committee. Tai left open the possibility for that to change, saying […]
Read MoreThe Coalition for a Prosperous America (CPA) today released a statement regarding a report by the U.S. International Trade Commission (USITC) analyzing the effects of Section 232 and Section 301 tariffs on more than $300 billion of U.S. imports. The USITC report found that the tariffs reduced imports from China, effectively stimulated more U.S. production of […]
Read MoreAsia Trade Lane Price Drop The contrast between the import rates from Asia in 2022 and those in 2023 is quite striking. Just half a year ago, it was not unusual for ocean rates to be in the five-figure range. However, presently, the shipping industry has become fiercely competitive with rates dropping even below the […]
Read MoreThe average contract cost to ship a container from China to the U.S. West Coast fell from $8,607 last April to $2,618 in February Retailers in the U.S. hope to slash shipping costs and save millions of dollars when they sit down later this month to negotiate long-term contracts with ocean carriers following last year’s […]
Read MoreAccording to the Baltic Exchange Airfreight Index (BAI), the rates paid for airfreight services from Hong Kong to North America and Europe in January 2023 have declined year-over-year, but still remain 67.8% higher than pre-COVID levels. The elevated rates can be attributed to a combination of factors including higher fuel prices, a shortage of belly […]
Read MoreGlobal Ocean carriers reached the top of the bullish market in 2022 by realizing high profits largely due to tight capacity and exceptionally high container rates. In fact, analysts at Blue Alpha Capital project that the world’s biggest container lines are on course to post profits in 2022 that will top 2021’s record by 73%. However, […]
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