The peak-shipping season in the eastbound Pacific has yet to take off in earnest as spot rates declined slightly for the third consecutive week. By contrast, in mid-July last year spot rates were moving higher, and they remained strong through the end of the year.
A slowdown in euro zone business growth at the start of the second half of 2017, alongside declining inflation pressures in a key business survey, could put paid to expectations of a stimulus clawback by the European Central Bank later this year.
June was another bumper month for US cargo airlines as the three major bellyhold players all registered double-digit percentage improvements in freight traffic. The largest US bellyhold airline, United, recorded a 22.3% year-on-year improvement in traffic in June to 280m cargo revenue ton miles. This is the airline’s tenth double-digit percentage improvement in a row […]
The Port of Los Angeles closed its 12-month fiscal year with total cargo volumes of 9.2 million TEUs, hitting its new annual record for most container throughput for a Western Hemisphere port. The volumes from the 12-month period increased by 9.7 percent, compared to 8.4 million TEU seen in the previous fiscal year ended June […]
China’s economy expanded faster-than-expected in the second quarter, setting the country on course to comfortably meet its 2017 growth target and giving policymakers room to tackle big economic challenges ahead of key leadership changes later this year.
Airfreight growth looks set to slow over the coming months after a bumper start to the year, according to one forwarder index. The latest APAC Forwarding Index shows that in June fewer Asia Pacific forwarders noted month-on-month growth than they did in May. The index showed that 41.4% of respondents registered higher airfreight volumes on […]
July and August should be two of the busiest months ever seen for imports at US major retail container ports, possibly setting a new record, the latest Global Port Tracker report released by the US National Retail Federation and Hackett Associates says.
Global demand for new smartphone models is driving Taiwan’s trade surplus and corporate revenues to record highs, underlining the strength of Asian trade even in the face of geopolitical jitters and rumors of protectionism. As a result, Taiwanese companies are posting record sales, a development they owe largely to an upswing in the global electronics […]
Like many multinational companies, Italian engineering business Brembo relies on London to run its finances. The company, based close to the Alps, makes brakes for Formula One cars and motorbikes and sells them in 70 countries. Hundreds of millions of euros pass through its bank accounts each year – and London is the hub for […]
Airfreight rates on major routes out of Asia continued to climb in June as demand to and from the region surges. The latest statistics from Tac Index show that average airfreight prices from Hong Kong to the US reached $3.27 per kg in June, an increase of 38.6% compared with the same month last year. […]
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