News
Trade Deficit & Record Imports
Recently, the US Commerce Department released some data that shows that as this year went on, the trade deficit of the United States’ imports continues to grow faster than exports, leading to an even starker differential between imports and exports. While in September...
Global Equipment Shortage
Importers or exporters in the United States have gotten to a difficult place in the current market where orders are surging as an economic recovery increases demand domestically and abroad heading into the holiday season, but a global equipment shortage has taken hold. Last week in our newsletter, the big surge in imports was noted, with orders 25% above the same time as in 2019. But in Asia, where a large volume of the US-bound cargo originates, there are massive shortages of containers, trucks, chassis, and space. Some carriers are finding themselves having to decline more cargo than they can accept, with demand outstripping supplies by huge margins.
Import Freight Market Increases
After a slow first and second quarter that saw a global drop in freight to and from nearly everywhere, the international shipping industry has been growing at a steady clip and has reached new heights this past month. October’s volumes of trans-Pacific freight saw big jumps from September, and now freight volumes are nearly 25% higher than they were a year ago in the same time.
European Union Set To Take Action
The basis of the tariffs is a series of long-running disputes between the US and EU, which have been the subject of a number of earlier updates. The two sides both sued the other in the mid-2000s over a series of subsidies given to their primary airline manufacturers, Airbus and Boeing..
Import Surge Hints Positive Signs
As we head into the end of the year, the shipping industry is seeing some good news quite literally on the horizon: ships waiting to dock outside US ports full of overseas cargo ready to dock at terminals. As an import surge hints at positive signs we noticed a...