Dear Friends, As we bid farewell to 2023, I think it’s important to pause and reflect on the past year and consider how we might prepare for the future. 2023, with its ups and downs, passed with much less volatility compared to previous years. As things largely returned to “normal,” we saw ocean carriers more…
The shipping industry has found itself navigating through significantly rougher waters, particularly in the Red Sea region. The Red Sea, a critical maritime route for global trade, especially between Europe and Asia, has been a scene of escalating security threats. Iranian-backed Houthi militants in Yemen have intensified attacks on vessels in the region, specifically targeting,…
The Indo-Pacific Economic Framework for Prosperity (IPEF), a U.S.-led initiative launched in May 2022, has made significant strides in fostering economic collaboration across the Indo-Pacific region. The recent developments in the IPEF, particularly in three of its four key pillars, mark a notable advancement in regional economic cooperation and sustainability. Recent Developments In November…
Breaking Down the Administration’s New Actions to Strengthen America’s Supply Chains In a significant move to bolster America’s supply chains, President Biden announced over 30 new actions, marking a pivotal moment in the Bidenomics agenda. The fact sheet details a comprehensive strategy to strengthen critical supply chains, reduce costs for families, and fortify key sectors.…
As the world of freight and logistics continues to evolve, understanding the latest strategies is ever more crucial for businesses to stay ahead. A comprehensive study released by Freight Waves with a focus on North American supply chains offers vital insights into the industry as we approach 2024. Here are some of the main discussion…
The shipping industry, particularly concerning spot rates and their implications for 2024 contracts, presents a complex and evolving scenario. In the last weeks of 2023, container lines’ financial outcomes for 2024 hinge significantly on their ability to increase spot rates. A failure to do so would result in considerably lower annual contract rates compared to…
Overall Demand, especially in US container imports has been consistent in line with pre-COVID peak season patterns. The consensus among ocean carriers and ports is that volumes will increase as holiday goods are shipped. This is expected to provide some support to spot rates through early fall. As of November 30, Drewry’s World Container Index…
Overall Demand, especially in US container imports has been consistent in line with pre-COVID peak season patterns. The consensus among ocean carriers and ports is that volumes will increase as holiday goods are shipped. This is expected to provide some support to spot rates through early fall. As of November 2, Drewry’s World Container Index…
In a significant development, the European Union and the United Kingdom have announced new sanctions that will reshape the iron and steel import industry. Starting on September 30, 2023, these sanctions will specifically target iron and steel products processed in third countries that incorporate Russian-origin materials. This move is designed to close loopholes that previously…
In a significant turnaround, West Coast ports are experiencing a resurgence in container volumes, signaling a robust period for the freight forwarding and logistics industry. The Port of Los Angeles and the Port of Long Beach, two of America’s largest Pacific gateways, have reported substantial increases in cargo throughput, indicating a shift in the transpacific…