June 20, 2024 at 1:03 pm | Uncategorized | No comment
As online shopping has evolved into a marketplace dominated by extremely low prices, the hidden human cost behind these bargains has been significant. Consumers have grown accustomed to inexpensive products, but many of these come at the expense of ethical labor practices and fair working conditions. Retail giants like Shein and Temu have been at […]
Read moreJune 15, 2024 at 1:30 pm | Uncategorized | No comment
The Port of Colombo has achieved a significant milestone by being recognized as the best-performing port worldwide for the first quarter of 2024 by Alphaliner, a leading platform in the liner shipping industry. Colombo’s remarkable growth rate of 23.6% outperformed all other global ports, with the Port of Long Beach in Los Angeles following in […]
Read moreMay 28, 2024 at 12:45 pm | Uncategorized | No comment
Vigor has successfully completed the Post-Shakedown Availability (PSA) for the USNS John Lewis (T-AO 205) at Swan Island, marking a key milestone for the first-in-class Military Sealift Command vessel. This eight-month maintenance period involved system enhancements and post-delivery modifications aimed at optimizing the ship’s performance. Now that the PSA is complete, the John Lewis is […]
Read moreMay 27, 2024 at 10:46 am | Uncategorized | No comment
CIOT and ATT experts featured prominently in the media throughout March, providing insights on key tax issues. Kelly Sizer from the Low Incomes Tax Reform Group (LITRG) appeared on BBC Radio 4’s Money Box to discuss how frozen tax thresholds have increased pension taxation. Meanwhile, ATT technical officer Emma Rawson spoke on BBC Radio Essex, […]
Read moreMay 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 […]
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