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In this article, we take a closer look at maritime competition in Asia by examining the maritime picture for 2021-2024, using indicators such as maritime connectivity, port throughput, and container fleet size. As expected, this analysis reveals why China stands out as the most powerful maritime nation by a significant margin.
inventories and consumer behavior, and reconciling them with maritime supply/demand dynamics is getting harder each day. Of course, we may still experience more factories in Asia not operating at 100 percent capacity, further trucking shortages, port issues, etc. The shipping ecosystem is ever-changing. Let’s not forget U.S.
In politics, it can of course be necessary at times to portray events as relatively simple in order to reach a wider audience. The post Analysis: Why the Biden Administration is Not Being Honest About Supply Chain Issues appeared first on More Than Shipping. President Joe Biden’s State of the Union address last week.
When the vessel veered off course due to the serious malfunction, it struck a section of the bridge and caused significant damage. Of course, like the Baltimore bridge collapse two months ago, this latest collision involving a shipping vessel brings the topic of maritime safety and infrastructure to the forefront as 2024 progresses.
A game-changing infrastructure project in the world of maritime transportation, the Stad Ship Tunnel is a planned canal and tunnel that will bypass the Stad peninsula in Stad Municipality, Vestland County, Norway. Once completed, the tunnel will provide a safe and efficient passage for the maritime industry.
But, of course, when dealing with systems that operate at such scale, exceptions happen. I can’t export maritime incident data from the US Coast Guard (which could use some tech) but based on this report there were 18 bridge allisions in the United States between 1960 and 2015. It’s the gritty reality of logistics.
There’s been a big focus on climate change and its effects on the maritime shipping sector for good reason: we see the effects of climate change everywhere. The goal, of course, is to reduce emissions and further the progress towards a greener, zero-carbon future. Funding was awarded for the project earlier this week in London.
The once-tranquil seas are undergoing noticeable transformations, with the impacts of rising temperatures affecting maritime operations. This imminent danger hits the core of maritime operations, namely the ports. In a world confronting the unyielding advance of global warming, the ocean shipping sector stands at a critical juncture.
On the other hand, the southern Chinese city of Guangzhou announced that in-person classes at elementary and middle schools shifted courses online after 27 new Covid cases were reported.
Supply chains will survive COVID-19, of course, but not without interim pain and structural change. The maritime industry — 90% of world trade travels by sea — is notoriously manual. But those new sourcing strategies must be informed by an accurate data platform that can conduct risk analysis.
Maritime trade has always had its ups and downs due to product cycles throughout history. Since over 80% of traded goods are moved via the sea (UNCTAD; Review of Maritime Transport 2021), we can confidently say that the entire developed world depends on sea transportation to survive.
Ordering early and shipping via air aren’t the best course of action anymore to solve this potential problem which may or may not occur. The International Longshore & Warehouse Union (ILWU) and West Coast employers, led by the Pacific Maritime Association (PMA), will be back negotiating a new contract as the current one is expiring.
Today, Freightos is giving away statistical analysis of some 300 million international freight market data points, launching the Freightos International Freight Index (FIFI). Business data must remain private of course. Announcing the Freightos International Freight Index. By Noam Fraenkel, VP Data and Analytics, Freightos.
According to Maritime Executive , “Eight international carriers split into three different alliances control 80% of the market today. Of course, it is also critical to apply data across all activities to identify which loads are ripe for the taking. Now, the industry is changing yet again. Carriers have a finite amount of capacity.
January 1st, 2023 marked the starting date of some new regulations drafted by the International Maritime Organization (IMO), a branch of NATO, to significantly reduce carbon emissions by large oceanic shipping vessels over time. But, of course, the shipping industry will the feel the growing pains of these new regulations significantly more.
have seen volumes drop dramatically also because of the slow pace of contract talks between the International Longshore and Warehouse Union and Pacific Maritime Association. It has classrooms, virtual reality simulators and an indoor driving course, complete with facades of porches and parking lanes. Downing St.
Of course, much more work remains. All work to restore the channel will be fully completed by June 10th, according to workers onsite. There was already a temporary channel established, but will be more permanent. The Key Bridge needs to be rebuilt. There will be further delays as things get back to normal.
Of course, much can change very quickly. It is anticipated profits for major shippers will also grow, as stocks are up. The situation is eerily reminiscent to 2021-2022, when the global supply chain crisis and delays increased costs dramatically.
Of course, the news is quite a positive development and very important for global transportation. The Panama Canal Authority made the announcement in a news release on its official website. The proposed changes were announced months ago and the increase was widely expected. The changes were made in a bid to reduce congestion in the canal.
These costs are, of course, passed along to shippers through bunker adjustment factors (BAFs). Analysis shows that it would take 18-30 months to get back to “normal” rate levels. We expect this situation will continue until at least the end of December.
Of course, the risk of a port worker strike still looms, but overall, it’s good news on the inflation front. With demand likely to rise further as consumers pay less, and more goods are demanded and produced, there are actually workers now to move goods, compared to right after the Covid pandemic when truckers were in short-supply.
On the other hand, in maritime transport, the weather and route must be taken into account. Today, many companies have already launched AI tools to improve the prediction of maritime and land transport operations. And of course, this logic can be applied to any mode of transport. How Technology Can Improve ETA.
With Chinese COVID restrictions loosening slightly, and the cost of fuel normalizing throughout the course of this year, stability in the market may not be far away. But cargo routes from China to the East Coast of the U.S. remain 32% higher than they did three years ago. While global container volumes have fallen 9.3% and China normalize?
New advancements in technology have, of course, made new and improved ways of shipping through new routes, but new technologies have also improved or have expanded old existing methods and routes. Many aspects of global trade have changed in recent history, but yet, many aspects have remained the same.
Oil has followed a fluctuating course before the U.S. Oil prices, which have been increasing since the beginning of the Covid pandemic, have increased from $2 to $3.50 per gallon over the last 1.5 Energy prices in global markets continue to rise with the Russia-Ukraine war. Federal Reserve’s interest rate decision.
Of course, each contract is different but usually, this has been the norm for the greater population. Traditionally, up until now, rates for the next contract season, which usually runs from May to May, would have been finalized with a hard stop by the end of April or mid-May. This changed as soon as the Covid-driven shipping surge was over.
Of course, it has long been the case that publishers target their readers. My job is not to determine for the reader what they should think, but to present information from all sides of an issue, with a proper degree of analysis and context, and let them come to their own conclusions. Which leads me back to my initial tweet.
Representatives from these media outlets will offer comprehensive coverage and analysis of key developments shaping the logistics landscape, enhancing the visibility and impact of the event on a global scale. Logistics Business will also be exhibiting.
The best course of action in the polymer market is to wait and see what will happen, with a strong emphasis on global conditions. In conclusion, even though China has pushed their capacity, it still has a long way to go compared to U.S. and Middle Eastern producers due to them having very strong demand domestically.
35% of ports reported an increase in utilisation of warehousing and distribution facilities for foodstuffs and medical supplies, with some ports reporting capacity shortages,” the analysis shows. Peregrine Storrs-Fox, TT Club’s Risk Management Director, commented, “There will be regional variations within these trends of course.
Lauren is maritime industry expert & lawyer who specializes in translating FMC regulations and breaking down supply chain silos. Beagen is a seasoned maritime attorney and the founder of Squall Strategies, LLC and The Maritime Professor. About The Maritime Professor. The Maritime Professor??
With no way to unlock the infected computers, Maersk had to rebuild its IT infrastructure almost from scratch, installing 4,000 new servers, 45,000 new PCs and 2,500 applications over the course of ten days. NotPetya used versions of hacking tools stolen from the US National Security Agency. Cyberattack numbers soar .
It is in the interest of the Russian government to have disruption in maritime activity in the Middle East, as slower and delayed maritime shipping hurts the U.S. The state of the Red Sea crisis Of course, the Red Sea crisis has ebbed and flowed over the past year. and broader Western) economy.
Maritime Alliance (USMX) on a tentative wage increase. Of course, there will be a lag in getting port operations fully back to normal and getting back into the routine of normalcy. With this new tentative deal reached, there would be a 62% wage increase over the course of a new six-year contract.
It is difficult to predict the course of the process as of early 2024. It seems that we will continue to witness the reflections of all these processes on maritime transportation and their effects on the supply chain soon. Concerns about the future in areas such as global oil and energy trade have also increased.
It’s taking semiconductor firms more than twice as long as their peers in other industries to hire personnel such as technicians or mechanical engineers, with the typical process stretching to about three months, according to an analysis of the top 50 chip producers in the US by Revelio Labs, a labor-market data analyst.
Passage through Kerch Strait by vessels is a prime example of possible financing (or other financial impacts) in favor of maritime business entities being subject to sanctions. Therefore, special attention should be drawn to the latter ones, in respect of conditions whereunder shipping companies operate.
His company’s mission is to enable supply chain professionals and teams to solve industry challenges by providing on-demand courses, guides, tools, and mentoring from industry experts. . His areas of expertise include financial analysis, procurement transportation management, and global trade management. . Lisa Anderson.
Executive Insights is a series by Shipping and Freight Resource that provides useful insights and thoughtful analysis on what is happening in the maritime, shipping, freight, logistics, supply chain and trade industries. Executive Insights is your chance to pick the brains of industry veterans, leaders, and enablers.
Global maritime commerce gathered momentum two years ago and raised sentiment in the shipping industry,” says Frida Youssef , UNCTAD’s trade analyst. There’s little doubt that trade wars in these arenas could reshape global maritime trade patterns and dampen UNCTAD’s cautiously optimistic forecast. Rate uplift. Balancing act.
DHL and New York University’s Stern School of Business today released the new DHL Global Connectedness Report 2024, the most comprehensive available analysis of globalization’s state and trajectory. At the same time, the data analysis demonstrates that there is no wider split of the world economy between rival geopolitical blocs.
As such, Russia has throughout the course of the war tried to limit this export to damage the Ukrainian economy and inflict a high-cost on Ukraine. Ukraine exports grain to the world. Indeed, it is a leading global exporter of grain products. What comes next?
Maritime performance in 2021. While the COVID-19 pandemic ravaged global trades, economies, and many industries, the maritime industry seems to have defied the COVID-19 disruption with a less than feared impact in 2020. Maritime trade contracted by 3.8% Maritime Trade. seafarersmatter #seafarersarekeyworkers .
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