Pakistan’s ports are bloated with frozen imports

Trade & Border IssuesHot SpotsInflationMoney Matters
Written By Jennifer Joslyn

🇵🇰 Pakistan’s ports are bloated with frozen imports.

The country’s economy is teetering on the edge of collapse, and many companies - especially those that manage the ports - have been forced to halt operations in response. Pakistan’s level of foreign currency reserves sits at $3.19 billion and its inflation rate for consumer prices have risen 27.5% year-over-year. According to Pakistan’s central bank data, this is the nation’s highest inflation since 1975. As the Pakistani government scrambles for a solution, raw material imports have been nearly nonexistent for most of February - forcing manufacturing operations to pause, as well.

Read more from More Than Shipping ▶

Featured
U.S. Companies Scramble to Avoid Port Strike Disruptions
U.S. Companies Scramble to Avoid Port Strike Disruptions

With a potential strike looming at East and Gulf Coast ports on October 1, U.S. companies are taking drastic measures to avoid supply chain chaos.

Baltimore Bridge Collapse Has Quick Updates
Baltimore Bridge Collapse Has Quick Updates

In Baltimore, officials have quickly established a temporary shipping route around the Francis Scott Key Bridge collapse site to resume port operations.

Transloading Resurges With Supply Chain Disruptions in the Logistics Landscape
Transloading Resurges With Supply Chain Disruptions in the Logistics Landscape

Transloading, a logistics strategy used to alleviate container backlog during the pandemic, is gaining traction once again as U.S. West Coast ports receive increased container volumes redirected from the East Coast.

South Carolina Ports Authority Records 9% Drop in Cargo Volumes for August
South Carolina Ports Authority Records 9% Drop in Cargo Volumes for August

The South Carolina Ports Authority reported a 9% year-on-year decline in cargo volumes for August, totaling 203,169 TEUs.

One Dead in the North Sea as Massive Fire Engulfs Car Carrier
One Dead in the North Sea as Massive Fire Engulfs Car Carrier

One person has died, and several others have been injured in a major fire that broke out on a car carrier in the North Sea off the Netherlands.

Import Cargo Volume at US Ports Set to Peak in August, but Labor Disputes Pose Concerns for Retailers
Import Cargo Volume at US Ports Set to Peak in August, but Labor Disputes Pose Concerns for Retailers

The Global Port Tracker report indicates that import cargo volume at major container ports in the United States is expected to increase towards a peak in August.

Union Pacific and BNSF have introduced new intermodal services at Port Houston
Union Pacific and BNSF have introduced new intermodal services at Port Houston

Union Pacific and BNSF, two of the largest rail carriers in the United States, have introduced new intermodal services at Port Houston, transforming the logistics landscape for transporting goods to key U.S. markets.

The Toyota manufacturer in Pakistan serves as a cautionary tale for supply chain management
The Toyota manufacturer in Pakistan serves as a cautionary tale for supply chain management

The Indus Motor Company (IMC) in Pakistan, which manufactures Toyota vehicles, has experienced ongoing production problems due to inventory shortages.

Production at Toyota Indus has been temporarily halted
Production at Toyota Indus has been temporarily halted

Toyota Indus, a subsidiary of Toyota operating in Pakistan, has announced the complete shutdown of its production plant in Karachi from June 3 to June 8, 2023.

February's U.S. Container import shows the largest monthly decline on record
February's U.S. Container import shows the largest monthly decline on record

Last month, the container volumes received by the U.S. dropped 28% in merely thirty days.

Pakistan’s ports are bloated with frozen imports
Pakistan’s ports are bloated with frozen imports

The country’s economy is teetering on the edge of collapse, and many companies - especially those that manage the ports - have been forced to halt operations in response.

Pakistan’s failing economy is forcing ports to shut down operations
Pakistan’s failing economy is forcing ports to shut down operations

Unable to fund imports due to the country’s depleting foreign currency reserves, Pakistan is abandoning containers full of goods at the ports.

Norway is now Germany’s biggest supplier of imported gas, replacing Russia
Norway is now Germany’s biggest supplier of imported gas, replacing Russia

Germany has traded Russia for Norway as the country’s import share dropped to just 22% in 2022. Russia began gradually cutting its gas supply via the Nord Stream pipeline to Germany over the summer and shortly thereafter ceased supplying via pipeline in September.

Port congestion problems eased in Oakland after November drop in imports
Port congestion problems eased in Oakland after November drop in imports

Compared to 2021, November imports and exports were down in November of 2022 at (-17.4%) and (-12.3%) respectively.

Port of Savannah congestion eases after November volume drops
Port of Savannah congestion eases after November volume drops

With seventeen container ships sitting in a vessel queue outside of the Port of Savannah, Georgia’s harbor, it’s a pleasant relief after the reported thirty ships in line in October.

Import dwell fees are coming to the Port of Houston
Import dwell fees are coming to the Port of Houston

A new policy is bringing a $45 per day “Sustained Import Dwell Fee” for shippers to the Port of Houston.

Pineapples from Costa Rica cloudy history before they show up in your grocery store
Pineapples from Costa Rica cloudy history before they show up in your grocery store

The largest exporter of pineapple across the globe is Costa Rica, but it doesn’t come easy.

Foreign goods are cheaper than ever to import
Foreign goods are cheaper than ever to import

Manufacturers in the United States are likely to suffer from the value of the dollar going up as US-made goods become more and more expensive for buyers internationally.

Russian imports to US still coming, despite White House threats
Russian imports to US still coming, despite White House threats

War? What war?

UN deal secures more corn shipments through Black Sea
UN deal secures more corn shipments through Black Sea

Corn shipments continue to leave Ukraine ports after the UN deal brokered between Russia, Turkey, and Ukraine takes effect.

American cherry exports boom in China
American cherry exports boom in China

The Chinese love their American cherry imports - so much so, that the top buyer of US cherries has impacted airfreight capacity for other export markets to ensure their shipments get delivered.

Shanghai reopens, bringing massive cargo surge to CA ports
Shanghai reopens, bringing massive cargo surge to CA ports

While the port of Shanghai was technically in operation during the three-month shutdown due to Covid-19 restrictions, the operations were slowed significantly.

U.S. invites foreign formula makers to export product
U.S. invites foreign formula makers to export product

Baby formula imports, incoming!

Jennifer Joslyn
Previous

With the addition of Run Rail, Blume Global's customer roster expands.
Next

FAA head nomination continues to stumble as Congress debates approval