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 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 […]
A new survey suggests Canadian companies are more upbeat about the future than they were three months ago with more firms planning to boost investment and to hire more workers. The Bank of Canada poll found that overall business sentiment in the country has almost bounced all the way back to its summertime high.
China’s economic growth is expected to have slowed slightly in the fourth quarter from the previous quarter, a Reuters poll showed, as the government extended a crackdown on debt risks and factory pollution. Policymakers in the world’s second largest economy have been trying to contain financial risks and slow an explosive build-up in debt without […]
Growth in imports at the busiest US container ports for retail goods is expected to tick up slightly this month before rocketing in February and then easing in March and April, the National Retail Federation (NRF) and Hackett Associates said in their monthly Global Port Tracker report. (This article requires a subscription to the Journal […]
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.
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 […]
The Bank of Canada (BoC) is likely to raise interest rates again when it makes its next monetary policy announcement on Jan. 17, according to economists at Canada’s big banks. Increasing the chances of another rate hike is the upbeat tone of the latest quarterly release of the so-called Business Outlook Survey, a closely watched […]
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 […]
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 […]
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