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Global Trade & Economics: Page 208

‘Shadow Fleet’ of Tankers Hauling Russian Oil Swells to 600 Ships, Trafigura Says
The European Union has imposed a ban on almost all seaborne imports of Russian refined fuels from February 5, two months after imposing a prohibition on crude oil.
Photo: Bloomberg
Slowdown in Warehouse Construction Could Extend Shortfall of Space, Experts Say
Vacancy rates are ticking up, but the increases have been slim, and space in big markets remains scarce.
Warehouse Exterior Old
Mexico’s Industrial Hubs Grow as Part of Shift Toward Nearshoring
The pace of the growth is putting a premium on logistics capabilities, including distribution centers positioned to quickly reach U.S. customers.
Photo: iStock / natatravel
FedEx to Cut Management Jobs by More Than 10%, CEO Says
The slump in parcels is industry-wide, with rival United Parcel Service Inc. reporting on January 31 lower U.S. volumes and a forecast for declining sales in 2023.
Photo: Bloomberg
Truck Freight Volumes Continued Decline in Fourth Quarter — U.S. Bank
U.S. Bank said the slowdown in volume was driven by a significant contraction in the West region.
Photo: iStock.com/Nikolay Malshakov
Exxon 2022 Profit Hits Historic High for Western Oil Industry
Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion.
Photo: iStock.com/JHVEPhoto
India Says Its Path to Net Zero Must Pass Through Fossil Fuels
Environmentalists have blamed the fuel — along with other factors like crop burning, construction dust and vehicle emissions — for the country’s toxic air that reaches alarming proportions every winter.
Photo: Bloomberg
Turkey and Morocco Are Emerging as Demand Sources for Russian Diesel Before EU Ban
The EU will still get more than a quarter of its diesel imports — around 612,000 barrels a day — from Russia even in January.
Photo: Bloomberg
Brexit Has Had a Negative Impact on the U.K. Economy
The U.K. is the only major rich economy that remains smaller — poorer — than prior to the pandemic and Brexit may be a factor.

Photo: iStock.com/Tanaonte
U.S. Consumer Spending is Falling
Freight carriers are seeing the impact, as the number of big and bulky shipments declines and retail customers continue to pare inventories and push back restocking.
Photo: iStock.com/Antonio_Diaz
2022 Holiday Spending Higher than Forecast, Says ACI Worldwide
While inflation accounted for much of the rise in holiday spending, the data shows a steady uptick in transactions, with many consumers buying goods and services via mobile devices.
Photo: iStock/Drazen Zigic
Japan, Netherlands Agree to Limit Exports of Chip-Making Equipment to China
The agreement is a result of the Biden administration’s effort to widen export controls on companies with critical technologies.
Photo: iStock.com/Mykola Pokhodzhay
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