China Feb services activity jumps sharply as demand recovers- Caixin PMI BEIJING, March 3 (Reuters) Activity in China’s services sector expanded at the fastest pace in six months in February as the removal of tough COVID-19 restrictions revived customer demand, driving a solid increase in employment, a private sector survey showed on Friday. The […]
Read MoreThe latest market analysis from CLIVE Data Services reveals that air cargo capacity has exceeded pre-pandemic levels for the first time in four years. In February, global air cargo capacity increased by 11% compared to the same period last year. However, global air cargo volumes fell by 4% YoY and rates remained stable. This […]
Read MoreConcerns are rising among West Coast ports as negotiations resume between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA). The slow pace of contract talks is negatively impacting import and export shipping business. January container volume numbers show a significant year-over-year drop at the ports of Los Angeles and Long Beach, […]
Read MoreMost of the weakness in the broader economy occurred in the first half of 2022, when real GDP declined at annual rates of 1.6% and 0.6% in the first and second quarters, respectively. Real GDP growth then accelerated over the second half of the year, averaging 3%. Thus, the economy entered 2023 with a healthy […]
Read MoreNew Citizen-Science Study Reveals Global Sources of Plastic Debris in the Arctic A recent citizen-science project conducted by the Alfred Wegener Institute (AWI) in the Arctic has shown the value of engaging interested citizens in scientific research. Over five years, citizens on sailing cruises to the Arctic surveyed and collected plastic debris that had washed […]
Read MoreChina’s major ports are facing a growing stack of empty containers, leading to the relocation of surplus boxes to secondary ports to create more space. Container xChange’s Container Availability index (CAx) shows that Shanghai, Ningbo, Tianjin, and Shenzhen ports have recorded a surplus of containers above 0.6 for 11 consecutive weeks as of February 5, […]
Read MoreSoutheast Asian governments have been beckoning foreign firms with cheaper labor, tax breaks and improved logistics as China’s Covid woes rumble on But analysts say the likes of Malaysia, Thailand, Vietnam and Indonesia will long struggle to match China’s deep, integrated supply chain network Global manufacturers have spread their bets to Southeast Asia – […]
Read MoreOn February 23, the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) jointly released a statement affirming that they are still engaged in negotiations and are optimistic about achieving a deal in the near future. The parties have also agreed not to discuss the ongoing negotiations in the media. The announcement […]
Read MoreAccording to Uber Freight’s first-quarter update on global freight markets, trucking operators are expected to face unfavorable market conditions in the first half of 2023. The truckload supply has exceeded demand, which is attributed to decreased imports and lower consumer spending. The market weakness is likely to continue due to a broad-based volume recession, as […]
Read MoreNegotiations between West Coast dockworkers and marine terminal employers have resumed following a nine-month stalemate due to a jurisdictional dispute over Terminal 5 in Seattle. The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) have agreed to set the matter aside and focus on negotiating a new contract, as the […]
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