31
Aug

Market Update – August 2022

MARKET UPDATE – August 2022 At this time of the year, the shipping industry would typically be seeing a surge in orders as importers worldwide stock up and prepare for the year-end holiday sales. However, as shoppers grapple with inflationary pressures, the uncertainties around rising retail prices are clouding the outlook of a buoyant consumer spending ahead of Thanksgiving and
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27
Jul

Market Update – July 2022

MARKET UPDATE – July 2022 As the shipping industry enters the busiest time of the year, the sharp decline in ocean freight rates in recent months coupled with multiple reports on the high level of inventory in retailers’ warehouses, are signaling a peak season that may not be as strong as many expect. While the talks around the unsustainable consumer
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30
Jun

Market Update – Jun 2022

MARKET UPDATE – June 2022 The global economy is fluctuating rapidly in response to the government regulations influencing the financial market. Much of the world is back to normal after more than two years of a pandemic. The global effect on the world economy, especially in commodity markets, manufacturing industries and supply chain have contributed to perceptions of a slowdown
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31
May

Market Update – May 2022

MARKET UPDATE – May 2022 On a path towards economic recovery, businesses and exporters in Shanghai are now eagerly awaiting return to normalcy after daily life and commercial activities were brought to a halt two months ago. With China’s financial capital set to gradually reopen from June, the attention of many supply chain professionals now turns to the aftermath of
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29
Apr

Market Update – April 2022

MARKET UPDATE – April 2022 As destination ports in North America and Europe recover from last year’s historic congestion and delays that are still fresh in the mind of many logistics professionals, the prolonged COVID lockdown in Shanghai and the Russia-Ukraine conflict are spelling more trouble for the already strained supply chain and raising fears of another cargo logjam in
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31
Mar

Market Update – March 2022

MARKET UPDATE – March 2022 As many areas throughout the world begin to fully reopen for international travel, all eyes are on China’s plan to cope with the largest COVID-19 outbreaks the country has faced since the early days of the pandemic during the beginning of 2020. Many supply chain professionals are worried the recent lockdowns in China could cause
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25
Feb

Market Update – February 2022

OCEAN UPDATE Eastbound transpacific container freight rates were largely stable, with prices remaining at an elevated level. On the spot market, ex-China rates are at $13,492 to USWC and $15,428 to USEC, while ex-East Asia rates are at $18,517 and $23,100 to USWC and USEC respectively. The backlog created during the Lunar New Year when China’s workforce ceased  operations is

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8
Feb

How To Minimize Costly Demurrage and Detention Charges

How To Minimize Costly Demurrage and Detention Charges The pandemic-driven surge in consumer spending has unleashed a series of damaging crises that have nearly paralyzed the supply chain. Persistent port congestion, in combination with shortages of manpower and equipment, are stagnating the circulation of containers and leaving shippers worldwide with fear of greeting their customers with empty store shelves. As
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27
Jan

Market Update – January 2022

Market Update - January 2022 As we usher in the new year, unresolved global port congestion, labor shortages, and capacity restraints have dampened the hopes of many for a brighter supply chain outlook in 2022. While there is no indication whether these disruptions will finally ease as governments discuss varying exit strategies for the pandemic, building a supply chain that
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10
Jan

Reducing Import Duties & Start Saving: Duty Deduction Program

Reducing Import Duties & Start Saving: Duty Deduction Program With rising supply chain costs, it has become more common for businesses that import goods to explore new ways to minimize unnecessary spending and improve profitability. One area of opportunity is reducing the duty paid on transportation costs. Did you know there is a range of charges possibly built into the
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