Lack of Confidence Among Exporters Hitting Air and Ocean Freight

November 14, 2019

With the mix of geopolitical tensions undermining business confidence and contributing to a lack of visibility in export markets, many observers don’t expect a significant rebound in cargo flows before 2020, according to Bolloré Logistics in its latest freight forwarding market report.

During the third quarter of 2019, a significantly slowing of international trade generated only modest gains in air and ocean volumes, representing one of the weakest periods of expansion since the 2008 global financial crisis, the French global logistics group noted.

The causes of the current doubt and hesitation are numerous, the report underlined, with the US-China trade conflict, risks of additional tariffs between Europe and North America, ‘shambolic’ negotiations towards Brexit, and dramatic developments in the Middle East all weighing even more on business planning in the third quarter (Q3) than they had the previous two quarters.

The resulting uncertainties that clouded medium-term outlook led companies to scale back procurement, production and export activities.

For the full story, please click HERE

Source: Lloyds Loading List

First in a Decade: Trans-Pacific Box Trade to Contract This Year

November 13, 2019

The trans-Pacific container trade from Asia to North America is headed for its first annual decline in a decade, according to Alphaliner. Maersk, MSC, Hapag-Lloyd and COSCO are the carriers that have lost the most market share this year as volumes have contracted.

The France-based container shipping analyst predicts that the eastbound trans-Pacific container trade will register its first negative growth year since 2009, with a 2% drop expected for the full year 2019.

“While volume growth has remained marginally positive in the first three quarters of this year despite the ongoing trade war between China and the U.S., the fourth quarter is expected to register a significant decline, with no repeat of the frontloading by shippers to avoid higher import tariffs at the end of last year,”

For the full story, please click HERE

Source: American Shipper

 

Breaking News: Arctic Cold Surge Will Shatter Hundreds of Mid-November Records in the Plains, Midwest, South and East Through Thursday

November 12, 2019

At a Glance
– A strong cold front is plunging through the U.S.
– This front will deliver the coldest air of the season so far for many in the eastern half of the country.
– Numerous daily cold records for mid-November will be set.
– A freeze is possible as far south as parts of the Gulf Coast.

arctic cold 201911

A powerful arctic cold front is plunging through the U.S. and will deliver the coldest air of the season to the central, southern and eastern United States, shattering scores of mid-November records in the process.

The front was slicing through the Northeast and Southeast early Tuesday, with frigid temperatures by mid-November standards already in place across the nation’s mid-section.

Morning temperatures have already plunged to the single digits as far south as the Texas Panhandle, with some subzero lows in parts of the Northern Plains and upper Midwest.

Indianapolis plunged to the single digits Tuesday morning, the earliest in the fall they had ever done so in records dating to 1871.

Des Moines, Iowa, dipped to minus-1 degree Tuesday morning, only the fifth time they’ve dipped below zero during the first half of November in records since 1878.

The front first arrived in the northern Plains and northern Rockies Sunday, plunged through much of the Plains and Midwest Monday.

Among daily record lows set Monday included minus-21 degrees in Turner, Montana, 13 degrees in Chicago and 16 degrees in St. Louis. Record cold highs set Monday included 8 degrees in Dickinson, North Dakota, and 18 degrees in Minneapolis-St. Paul.

Temperatures on Monday afternoon stayed well below freezing as far south as the mid-Mississippi Valley and Central Plains. These were daytime highs more typical of January than November.

Even South Texas was involved, where a Monday heat index in the low 90s was followed by a Tuesday morning wind chill in the low 30s.

As of early Tuesday morning, the National Weather Service was forecasting over 360 additional daily cold records could be tied or set Tuesday through Thursday morning in the U.S., including both record lows and record cold high temperatures for a particular day.

Timing the Cold Blast
The next round of shivering temperatures arrived in the Northern Plains and upper Midwest Sunday and plunged quickly into the Southern Plains and Ohio Valley on Monday. The front will barrel through the East Coast and Deep South Tuesday, then through the rest of the Florida Peninsula by Wednesday.

Video: Plane Slides Off Runway During Chicago Snowstorm

Source: Weather.com

Mexico, Taiwan and the EU are Winning the US-China Trade War

November 11, 2019

The lose-lose and still lingering trade war between the United States and China has cost both sides billions, and consumers and components importers are footing the biggest part of the bill.

Though holding onto a promise to protect consumers and a largely misaligned belief that tariffs on Chinese imports would only hurt China, President Trump’s and his four tranches of tariffs have fueled a multitude of adverse impacts for U.S. consumers and businesses alike.

“U.S. consumers are paying for the tariffs…in terms of higher prices,” said Alessandro Nicita, an economist at the UN trade agency, UNCTAD and author of the agency’s Trade and Trade Diversion Effects report released Tuesday. “Not only final consumers like us, but importers of intermediate products–firms which import parts and components from China.”

As such, punitively dutied product imports from China fell 25 percent in the first half of 2019, according to the report. But this may ultimately be more damaging for the U.S. than China, too.

“While substantial, this figure also shows the competitiveness of Chinese firms, which despite the substantial tariffs, were still able to maintain 75 percent of their exports to the United States,” the report noted.

For the full story, please click HERE

Source: https://sourcingjournal.com/

This week’s Arctic Blast Will Be so Cold, Forecasters Expect it to Break more than 300 Records Across US

November 11, 2019

weather-cold-20191111

Don your jackets and mittens, East Coasters. You’re going to need them.

The next five to seven days won’t just be cold — they’ll be record-breaking.

That’s according to data from the National Weather Service, which predicts more than 300 record cold temperatures could be tied or set from Monday to Wednesday.

It’s all part of the Arctic blast that’s hitting the East Coast, bringing the coldest air of the season to the eastern two-thirds of the country. On Monday, temperatures are expected to plummet in the Great Plains before moving farther east on Tuesday and Wednesday.

Lows Monday night into Tuesday morning will be more like January temperatures across the Central US. Readings below zero are forecast for parts of Minnesota and temperatures down into the teens are forecast for as far south as Texas.

On Wednesday, almost 100 record lows could be set from the Deep South to the Northeast.
Some places in the East could experience temperatures on Wednesday afternoon that are up to 30 degrees below average, said CNN meteorologist Taylor Ward.
Freeze watches and warnings extend as far south as Florida.
Bitter cold moving into the US

The harsh weather was already having an impact on transportation. An American Eagle flight slid off the runway Monday morning at Chicago O’Hare International Airport. There was light snow with visibility of less than a mile, wind gusts of 30 miles per hour and a temperature of 23 Fahrenheit.
As of 1 p.m. ET, more than 900 flights heading to or leaving O’Hare and Midway International Airport were canceled due to weather conditions.

For the full story, please click HERE

Source: https://www.cnn.com/