The TransCore Link Logistics Canadian Freight Index fell behind in November, following its traditional drop this time of year, with volumes declining eight percent compared to October. While year-over-year volumes also dropped 28 percent, this is compared to historic highs set throughout 2014.
As we draw toward a close of a volatile 2015 that saw airfreight demand skyrocket in the early months only to cool down and stagnate for much of the rest of the year, the International Air Transport Association (IATA) is predicting continued sluggishness for most of 2016, thanks to continued weak growth in world trade, a slowdown in China, falling commodity prices, and an expected interest rate hike in the United States.
Across Nigeria, low-cost Chinese goods are everywhere, evidence of Beijing's growing dominance in global trade. The trade flow has helped keep life affordable for millions of Nigerian families, at a time when the country is struggling with economic stagnation and plunging prices, as well as the deadly costs of the Boko Haram insurgency.
China's cabinet has approved the merger of its two biggest shipping conglomerates, China Ocean Shipping Company (COSCO) and China Shipping Group Company (parent of CSCL), in the government's latest effort to make the industry more competitive globally.
The number of vessels in the Great Lakes-Seaway system exceeds the five-year average as ships deliver much-needed supplies and make a final push to export grain before the St. Lawrence Seaway closes Dec. 30.
Stakeholders at U.S. ports are spending $9bn a year to accommodate the next generation of super-sized container ships. But simply expanding physical infrastructure will not be enough to mitigate port congestion. With fewer vessels moving more containers per call, U.S. ports need to fundamentally change the way containers are moved in and out of terminals.