Global 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, […]
Read MoreOceans play a critical role in regulating global climate, supplying oxygen to the atmosphere, hosting various species of marine life and providing food for millions of people. Absorbing CO2 from the atmosphere, the oceans are also vital for reducing global warming, while they are vital for the very existence of shipping. At the same time, […]
Read MoreIn recent weeks, about 1,500 comments were filed with the United States Trade Representative (USTR) concerning the tariffs imposed by the Trump administration—and maintained by the Biden administration—on imports from China as a result of the recent trade war. The majority of the comments paint a bleak picture: the tariffs have—contrary to unsupported assertions you may have […]
Read More2022 saw many disruptive events impact the global freight market, and we’re bound to witness some spillover from last year on air rates and volumes in 2023. In January and February last year, air freight volume was sky-high, seeing an accumulative 4% year-on-year growth compared to 2021. But this growth dropped from mid-April 2022. […]
Read MoreThe drop in the cost of shipping containers will help reduce price pressures, Jonathan Ostry, a professor at Georgetown University and the former acting director of the International Monetary Fund’s (IMF) Asia and Pacific department wrote in a post on the IMF’s website. In a previous IMF study by Ostry and four colleagues examining the […]
Read MoreThe two largest global container lines have mutually agreed to end their vessel-sharing partnership in January 2025. A joint statement by Vincent Clerc, CEO of A. P. Moller – Maersk, and Soren Toft, CEO of MSC, said that discontinuing the vessel-sharing alliance would allow both companies to “pursue their individual strategies”. Consultant Drewry observed […]
Read MoreWhen Malcom McLean introduced the world to container shipping in 1956, it not only touched off a seismic shift in the way cargo was handled but also the equipment and infrastructure needed to support containerized operations. Loading and unloading cargo from ships piece by piece in breakbulk operations, a process that could take days and […]
Read MoreLong-stalled West Coast port labor talks are showing no signs of progress, according to people familiar with the negotiations, extending uncertainty for U.S. retailers who rely on the coast to import goods from Asia. Shipping industry and Biden administration officials had hoped the talks, which began in May, would conclude last fall. But, people familiar […]
Read MoreAir Freight rates continue to decline on major routes with exception of the China-U.S. route which has grown 10%, the TAC Index shows. This development comes on the heels of early factory closures in China as the Chinese New Year (CNY) holiday nears but also in part because of new COVID cases and weak […]
Read MoreInternational 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 […]
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