10 Aug 2023

Trade Suffers Harsh Impact as Global Export Leaders Face Turbulent Times

As experts analyze the potential for economic downturns in major global economies, a plethora of recent data underscores the existing downturn in global trade. China, the world’s largest exporter, recently reported the most significant contraction in overseas shipments since the onset of the Covid-19 pandemic in February 2020. Germany, the third-largest global exporter, experienced a […]

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08 Aug 2023

USA / China economic news

The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) for China fell to 49.2 in July from 50.5 in June, indicating a contraction in factory activity. This decline in data has posed challenges for policymakers attempting to bolster the post-Covid economic recovery in China. Supply, demand, and export orders all worsened in July, attributed to sluggish […]

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01 Aug 2023

Trans-Pacific Shipping Rates Rise as Carriers Constrain Capacity

    Spot container shipping rates between Asia and the U.S. have been increasing by double digits in July, climbing for three consecutive weeks, reaching levels similar to early 2023 and late 2022. Meanwhile, shipping lines have become more disciplined at managing vessel capacity. “Typically, higher demand leads to higher capacity availability, but over the […]

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01 Aug 2023

Third largest LTL carrier Yellow is preparing to file for bankruptcy.

Yellow, the third-largest U.S. less-than-truckload (LTL) provider, is preparing to file for bankruptcy, according to The Wall Street Journal and other news outlets. The company has been struggling for some time with debts of $1.3 billion and declining revenues and reserves. Yellow Logistics, the company’s 3PL, is up for sale and Yellow is “actively” engaged […]

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24 Jul 2023

US Forwarders Face Possible Delays and Disruptions from UPS Strike Action

US Forwarders Face Possible Supply Chain Disruptions from UPS and Yellow Freight Crises US forwarders are warned to get ready for the impact of possible strike action at UPS, and the financial troubles of Yellow Freight, one of the biggest U.S. LTL trucking companies, which is at risk of going bankrupt. Brandon Fried, executive director […]

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19 Jul 2023

Resumption of UPS Union Talks Amid Looming Strike Action

UPS and union representatives are scheduled to resume talks in the coming week as the threat of an impending strike looms, with less than two weeks remaining before the current deal with the Teamsters union expires on July 31. Express delivery company UPS is urging swift action to reach a resolution with the Teamsters union, […]

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