May 25, 2024 at 9:37 am | Uncategorized | No comment
Freight prices are greatly impacted by the General Rate Increase (GRI), a recurring change enforced by shipping lines, especially during periods of high demand. Due to a combination of increased demand, limited capacity, and disruptions brought on by China’s Labor Day, the GRI is anticipated to raise shipping rates in May 2024. Carriers use this […]
Read moreMay 25, 2024 at 6:10 am | Uncategorized | No comment
U.S. stocks closed lower on Wednesday as investors reacted to the Federal Reserve’s May meeting minutes, which signaled ongoing inflation concerns. The Dow Jones Industrial Average dropped 201.95 points (0.51%) to 39,671.04, marking its worst session in May. The S&P 500 fell 0.27% to 5,307.01, while the Nasdaq Composite slipped 0.18% to 16,801.54. The Fed […]
Read moreMay 25, 2024 at 5:39 am | Uncategorized | No comment
In April 2024, the air freight sector experienced a 12% decline in global tonnages, yet demand and rates from the Middle East and South Asia to Europe remained strong. European tonnages, however, saw an 11% week-over-week decline, indicating regional variances in demand and market conditions. The ocean freight sector is undergoing notable changes, as carriers […]
Read moreMay 18, 2024 at 11:42 am | Uncategorized | No comment
The ocean freight (OFR) market has shown consistent year-over-year (YoY) growth since October, reflecting a sustained increase in demand. This upward trend has contributed to heightened activity across key shipping lanes, indicating strong global trade momentum. A significant 9.6% annual fleet growth rate has been observed, driven by continuous vessel additions and capacity expansions. Since […]
Read moreFebruary 27, 2024 at 9:03 am | Uncategorized | No comment
Global transportation and logistics output is expected to grow by 4.1% in 2025, with further growth of 3.7% projected for 2026. This growth is largely driven by increased business investments and manufacturing in key regions including the Americas, Asia Pacific, and Europe. Additionally, a rise in demand for trade-intensive consumer durables is anticipated, fueled by […]
Read moreApril 24, 2023 at 4:25 am | Uncategorized | No comment
A Major Port is one which is under the administrative control of the Union Shipping Ministry while a Tug (also called Tugboat) is a vessel used to manoeuvre ships into port berths. India hopes to become the global hub of Green Ship Building by 2030 according to Shipping Minister Sarbananda Sonowal. Speaking at the launch […]
Read moreApril 24, 2023 at 4:24 am | Uncategorized | No comment
The much-delayed passenger ferry service between Sri Lanka and India is set to start by the end of April, Civil Aviation Minister Nimal Siripala de Silva said on Sunday. “On April 29, the ferry service between Karaikal and Kankesanthurai in port in Jaffna district would begin. Each passenger would be allowed a 100 kg baggage […]
Read moreApril 24, 2023 at 4:21 am | Uncategorized | No comment
Sri Lankan Minister of Ports, Shipping and Aviation Nimal Siripala de Silva has said the government will spend around 132 million US dollars on port development projects. These investments would be made through revenue generated from port operations, the minister said on Saturday night, Xinhua News Agency reported. Speaking at an event in Colombo, the […]
Read moreApril 24, 2023 at 4:13 am | Uncategorized | No comment
The International Air Transport Association (IATA) released data for January 2023 global air cargo markets showing that air cargo demand declined as economic headwinds persist. Global demand, measured in cargo tonne-kilometers (CTKs*), fell 14.9% compared to January 2022 (-16.2% for international operations). Capacity (measured in available cargo tonne-kilometers, ACTK) was up 3.9% compared to January […]
Read moreApril 24, 2023 at 4:08 am | Uncategorized | No comment
Medellin is known as the capital of fashion in Colombia and they host many fashion-related events, this year it wasn’t the exception with the ColombiaTex 2023 which took place in Medellin in the 4th week of January.ColombiaTex is one of the most important events where they promote the textile industry since 1988 where they are […]
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