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[FFW News] China beefing up supply chains
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📈 BY THE NUMBERS: Important numbers impacting freight and logistics
⛽ Diesel: $3.987 gal (🔽from $4.092 last week) - Source: EIA
✈️ Air Cargo Index (Oct ‘23): 165.1 (🔽from 166.9 in Sep ‘23) - Source: FRED
🚢 Global Container Index: $1,270.00 - Source: Freightos
Logistics News for Dec. 13, 2023
😐China threatens to beef up supply chains against the US in 2024
Chinese Communist Party leaders during the policy-setting Central Economic Work Conference said that amid escalating tensions between the U.S. and China, namely over semiconductors and advanced chip manufacturing and supply chains, the government would make economic security a priority. Read here….
🔻United States container import volumes declined from Oct to Nov 2023
According to Descartes, in November 2023, U.S. container imports decreased, particularly affecting East and Gulf Coast ports. The decline, consistent with previous year-end trends, was significant. Imports from China also continued to drop at a slightly faster rate than the overall figures, contributing to the overall reduction in import volume. Read more…
🤡Comedian John Oliver roasts the freight rail industry in the United States
Though not typical of our coverage, we find it worth noting. Comedian John Oliver, host of “Last Week Tonight,” called the US freight rail industry is in a “terrifying” state. “It is terrifying to think a train disaster like East Palestine could happen in New York,” said Oliver in a monologue on recent incidents. Read…
✊🏾DHL air cargo workers on strike at Cincy/Northern Kentucky Int’l Airport
Over 1,100 Union employees for DHL’s air cargo terminal at the Cincinnati Northern Kentucky International Airport cargo hub are striking. The workers voted to unionize with the International Brotherhood of Teamsters earlier this year through Teamsters Local 100. The union has filed unfair labor practice complaints with the National Labor Relations Board since April. The union voted to strike, resulting in DHL diverting cargo, leading to delays. More here…
⚖️Federal judge approves sale of 128 Yellow terminals
A federal bankruptcy court judge approved the sale of 128 terminals that were once owned by former LTL freight giant Yellow. The sale of the terminals plus two leased terminals is combined for $1.88 billion. No objections were raised by the court as it relates to the sale of these terminals under the bankruptcy. More…
☕Worth a read over the coffee this morning…☕
“MOL And Maersk Join Forces For Decarbonising Shipping Sector” - Marine Insight
“The shift of manufacturing out of China is shaking up shipping” - Quartz
“Shifting geopolitics, climate and labor ratchet up risk for container shipping” - S&P Journal of Commerce
“Inflation cools further in November as energy prices fall, housing costs remain sticky” - Yahoo! Finance
Compiled by Michael McGrady – news analyst and writer.
Do you have a tip? Feedback? Email him – [email protected]