International trade practices by US importers and exporters are “laughably archaic” say respondents to logistics technology provider Freightos’ latest industry survey. With small businesses accounting for a third of total US imports, “a whopping 50% still rely on spreadsheets to manage shipments”, Freightos said after its survey of more than 500 companies.
After a steep plunge into negative growth in mid-2016, world air cargo traffic rebounded sharply last year and is on course for 4.2 percent average annual tonnage gains through 2020. The pace is currently outracing cargo belly and freighter capacity, improving yields for carriers, and creating space shortages for shippers. That is essentially the snapshot […]
A strong wind is expected to continue blowing on the economic seas in the first half of 2018 but could recede for the full year, based on the most recent edition of the Port Tracker report, which was released late last week by the National Retail Federation (NRF) and maritime consultancy Hackett Associates.
A complete transformation of how ports operate is on the horizon, according to Bret Greenstein, Vice President of Watson Internet of Things (IoT), Consumer Offerings, IBM. Over the past few years, IBM has partnered up with industry majors such as Maersk Group and CMA CGM in order to digitize their ways of doing business.
The International Air Transport Association (IATA) recently released full-year 2017 data for global air freight markets showing that global demand grew by 9.0%. This was more than double the 3.6% annual growth recorded in 2016
Last year ushered in the formation of three major ocean carrier alliances, all with the hope that this dysfunctional transportation sector would at long last begin to find a way to provide shippers with sustainable service while managing to keep its capacity in check.
Global schedule reliability deteriorated to 74.5% in 2017, dropping by 8.4 points from 82.9% in 2016. SeaIntel Maritime Analysis said. Taiwanese container carrier Wan Hai was the most reliable carrier in 2017, with schedule reliability of 81.0%. Hamburg Süd and Evergreen followed close behind with on-time performance of 79.7% and 79.1%, respectively.
The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil. Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly […]
The late Lunar New Year holidays this year may ease the pressure on an air cargo industry that saw severe space constraints on key east-west routes during the end-of-year peak season, frustrating shippers and causing freight rates to hit record highs. At the end of January there are still almost three weeks to go before […]
U.S. oil production surged above 10 million barrels a day for the first time in four decades, another marker of a profound shift in global crude markets. The milestone comes weeks after the International Energy Agency said the U.S. is poised for “explosive” growth in oil output that would push it past Saudi Arabia and […]
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