Although spot rates recovered in the Asia-US East Coast trade in the past few weeks, on the back of a demand growth in 2017, they remain well below the same period last year, according to Drewry.
Logistics executives optimistic for emerging market cargo growth in 2018
Logistics industry executives expect emerging markets to grow this year at their fastest rate since 2013, according to the latest Agility Emerging Markets Index. The annual index, which is put together by logistics firm Agility and consultant Transport Intelligence (Ti), includes a survey of the expectations of 500 logistics industry executives. For the year ahead, […]
Imports at Top US Container Ports End 2017 with 7 Pct Growth
Imports at the US major container ports grew 7 percent during 2017 over 2016 as retail sales continued to increase and the industry wrapped up the year with a strong holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.
IBM and Maersk Are Creating a New Blockchain Company
IBM and Danish shipping giant Maersk are teaming up to form a new company whose aim is to commercialize blockchain technology-the nifty, shared accounting ledgers first made famous by the cryptocurrency Bitcoin. The as-yet unnamed, New York-based venture is set to be owned 51% by Maersk and 49% by IBM, the companies said. The concern […]
Airfreight rates end the year on a high
Airfreight rates ended the year on a high, but indications are that pricing slowed towards the end of the year in line with the Christmas slowdown. The latest airfreight rates from TAC Index show that rates on services from Hong Kong to North America and Hong Kong to Europe increased in December.
More Mega-Ships Are a Big Problem for Cargo Carriers
Container shipping companies are bracing for a challenging year — they will have more space available for carrying goods than the amount of cargo that’s out there. Corrine Png, chief executive officer of research firm Crucial Perspective, estimates freight-carrying capacity on container ships will rise 5.9 percent this year, outstripping demand growth for the first […]
2018 a Year of Transformation for Port Operators
2018 could be a defining year for global ports industry, according to the international law firm Ince & Co, which has advised port operators to expect a year of transformation. The transformation will be driven by shifting economic trends, trade flows and global demographic patterns, in tandem with changes in port ownership and ongoing investment […]
Airfreight rates in dramatic peak season rise, states Freightos
Against a background of IATA’s estimated 9.3% growth in world cargo volumes for 2017, airfreight rates have been dramatically up this peak season, reports online platform Freightos. Freightos stated: “While some rates have eased recently, others are heating up. Most US airlines canceled 7-10 scheduled flights coming in from China between December 22-30, especially those […]
APMT: North American Ports Must Adapt to Changes
North American ports need to adapt to changes in customer demand and future industry trajectory, according to port and terminal operator APM Terminals.
Oil Resurrection Sets Stage for Another OPEC-Shale Clash in 2018
Oil continued its revival from the biggest crash in a generation, with prices set for a second annual gain after a year marked by hurricanes, Middle East conflict and the tussle between OPEC and U.S. shale.