Regarding the labor negotiations at West Coast ports, the shipping industry and Biden administration officials had hoped to conclude them last fall, starting from May of last year.On January 25th, Mario Cordero, the executive director of the Port of Long Beach, stated in an interview with Bloomberg TV: "I thought we would reach a deal last year, but we'll see in the next month whether these political parties can unite and work around the clock to bring their differences and some compromises to the table.""Everyone hopes to see the negotiations concluded, so that there will be no more uncertainty in the market and we can move forward," said the info...
This week, the spot exchange rates from Asia to Northern Europe have fallen to their lowest levels since before the outbreak of COVID-19 in 2020. As European importers bear the burden of inflation and high inventories, carriers are unable to fill the deployed capacity on trade routes.According to the GEP Global Supply Chain Volatility Index, destocking efforts in Europe and North America are being reversed as companies build up safety stock, partly due to the resurgence of COVID-19 infections in China and heightened concerns about future supply and pricing.Due to the abundant container transportation capacity in the market, high inventory levels, and weak demand, shippers...