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Logistics News with TELS GLOBAL
Panama Canal has reduced its carrying capacity
The queues lining the approaches to the Panama Canal totaled 154 ships as of August 10. This is equivalent to approximately 21 days of waiting time.
China’s foreign trade significantly decreased in July
According to the General Administration of Customs of the People’s Republic of China, the export volume from China amounted to $281.8 billion at the end of July, having decreased by 14.5% compared to last year.
Global trade dynamics in monetary terms is 4 times higher than in physical terms
The global commodity trade increased by 11% last year reaching $24.9 trillion, which is significantly higher than it was before the pandemic. However, in the physical volume, the shipments increased by only 2.7% against the 9.4% growth in 2021.
Growth in available road freight capacity in Europe puts pressure on rates
The spot rates have dropped by 18.5% in June 2023 compared to the previous year. The contract rates remain at the same level.
Shipping lines are looking to stop the decline in contract rates
The contract freight rates for ocean container shipping have fallen by 9.5% over the month and by 58% over the year and reached a two-year low in June.
Chinese industrial activity to shrink for the fourth consecutive month
The PMI in China’s manufacturing sector has amounted to 49.3 points at the end of July. This is the fourth consecutive month that the index has been below 50 points, indicating a decline in activity.
Global slowdown of the world economy
The IMF has published its June update of the world macro forecast. The global economy growth rate is expected to reach 3% this year, down from 3.5% in 2022. The developed countries will experience a slowdown in the GDP growth rate up to 1.5%.
Europe’s largest port reduces the cargo turnover but increases the revenue
Rotterdam (the Netherlands), Europe’s largest port, has reported that it handled 220.738 million tons of cargo during the first half of the year, which is 5.5% less than during the same period last year.
Cargo traffic along the Trans-Caspian International Transport Route nearly doubles
The press service of Kazakhstan Railways reported that between January and June 2023, the volume of freight traffic along the transport corridor amounted to 1.3 million tons, which is 77.2% higher than over the same period last year.
There are no signs of an imminent revival of the road freight market in Europe
TI’s forecasts show an average annual growth rate of 2.1% between 2022 and 2027. This is higher than the expected growth in 2023, but lower than the result in 2022.
Asian workers replace the reduced numbers of Ukrainian and Belarusian drivers in the EU
Last year experts forecasted that the market would lose even more drivers and the industry would be damaged due to the staff shortage. However, the expected outflow did not happen. Cargo carriers admit the departure of the Ukrainians was apparent, but in the long run it proved to be pretty limited.
India competes with China for Africa
The countries have received $32 billion in loans from India over the past decade, which is 38% of all the loans it has extended to other countries.
TELS GLOBAL: Counting emissions to the environment and reducing them
One of the key objectives of a socially responsible business is to reduce air pollutant emissions from its operations. A systematic approach to preservation of the planet’s ecology has long been the standard for market leaders.
Global container fleet growth sets records
Last month a new record was set for the growth of the global container ship fleet; according to Linerlytica, almost 280,000 TEU of new capacity were delivered in June.
Manufacturing activity is weakest in euro zone countries
According to J. P. Morgan and S&P Global, the average data of leading indicators of the state of global industry, purchasing managers’ indices (PMI), indicate a further weakening of demand for global industry products.
Delivery time along the Trans-Caspian International Transport Route to be cut in half
Kazakhstan, Azerbaijan, and Georgia will create a major logistics company. The new agreement between the countries will change the approach to transportation along the Trans-Caspian International Transport Route.
Contract rates for sea container transportation have halved since the beginning of the year
The latest Xeneta Shipping Index (XSI®) data has shown a 9.4 percent decrease in global shipping container rates for June 2023 compared to the previous month.
Kazakhstan is to become an important transport hub between Europe and China
Experts believe that the Silk Road is recovering, although it looks different in the today’s trade and geopolitical conditions.
FedEx cuts air cargo fleet due to reduced demand
During the fourth quarter of the 2023 fiscal year FedEx decommissioned 18 aircraft. In fiscal year 2024, the company plans to remove 29 more aircraft, nine of which will be decommissioned.
Lithuania tightens the rules for transporting goods in the eastern direction
Starting July 3, 2023, a manufacturer’s declaration will be required for certain goods in transit from Lithuania through the Russian Federation or Belarus.