Global freight remains in the fog
🚢 Global freight remains in the fog.
While things are moving at a generally lower cost and more fluidly than in the earlier pandemic days, supply chain disruptions are far from over. Consumers worldwide are feeling the pain of inventory imbalances, soaring costs, and labor shortages. Bottlenecks and backlogs are no longer part of the norms at West coast ports, but stabilizing these locations is in part due to slowing demand.
OPEC+ decided to maintain its current production cut strategy after Saudi Arabia extended its unilateral cutback of 1 million barrels a day into September.
Pertamina International Shipping (PIS) achieved a major milestone by signing four business cooperation agreements with global players through its branch office, PIS Middle East (PIS ME), based in Dubai.
The United Nations-brokered Black Sea Grain Initiative, which has facilitated the safe export of 32 million metric tons of food from Ukraine, is set to expire on July 18.
The International Maritime Organization (IMO) has reached a unanimous agreement on updated rules to reduce greenhouse gas emissions from shipping vessels.
Unforeseen drops in international freight pricing and an oversupply of freight capacity have led to a reversal in the global trade, supply chain, and logistics landscape.
Supply chain professionals are expressing concerns about three main challenges in the second half of 2023: the possibility of a U.S. recession, geopolitical risks, and rising operating costs.
The International Chamber of Shipping (ICS), which represents 80% of the world's commercial fleet, has advised its members to consider the implications of a new plan to reduce maritime emissions before committing to it.
China is asking some of its biggest solar panel manufacturing companies to get tough and hold steady against an incoming barrage of international “threats” to their trade power.
At the COP27 United Nations Climate Change Summit in Egypt this week, Norwegian Prime Minister, Jonah Gaher Støre, and U.S. Special Presidential Envoy for Climate, John Kerry announced the launch of their new project.
While some are concerned about UPS and FedEx shipping rate increases, it also looks like you can’t look anywhere else for lower prices.
They might be right. FedEx’s sales forecast was full of cost-cutting measures after Q1 profits showed poor performance.
Spreadsheets and email may be seen as archaic in the days of robotics and data harvesting systems - but the reality is that most of the largest shippers and suppliers in the world are still relying upon these processes to get work done.
In 2022, 19% of high-level positions are led by women, as compared to 15% in 2021.
Wealthy American families are increasingly obtaining second, or even multiple, citizenships and residences, a trend highlighted by Henley & Partners, a law firm specializing in high-net-worth citizenships.