by Steven-Kenneth | Oct 2, 2022 | Other Stories, Supply Chain and Logistics
The Covid freight rate bubble has burst, and the absence of “easy money” is forcing smaller carriers and forwarders to quit the transpacific trade. According to Richie Lin, logistics consultant director at Team Global Logistics, the inflated freight rates of 2020 and...
by Steven-Kenneth | Oct 2, 2022 | Other Stories, Supply Chain and Logistics
High freight costs, slow logistical deliveries and falling demand are the major problems revealed in a China Council for the Promotion of International Trade (CCPIT) survey of 500 Chinese companies. At a recent CCPIT’s briefing, China Chamber of International Commerce...
by Steven-Kenneth | Oct 2, 2022 | Mike Wackett, Other Stories
Container spot rates from China to Middle East and intra-Asia routes are reported to have “collapsed” by mid-August, with prices to Europe and the US coming under intense pressure. Nevertheless, two ocean carriers remain bullish on maintaining profitability, as the...
by Steven-Kenneth | Oct 2, 2022 | Mike Wackett, Other Stories
Maersk CEO Soren Skou told investors on August 3 he remained “confident” about the shipping line’s contracted customers sticking with their agreements, despite a backdrop of softer demand and container spot rates declining. He said his confidence in the integrity of...
by Steven-Kenneth | Oct 2, 2022 | Other Stories, Rail
Hapag-Lloyd is to begin installing new real-time tracking and telemetry devices across its fleet of standard containers at the end of August. This will entail investment of around $250 million across the shipping line’s 1.6 million boxes. While many reefer containers...
