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Xeneta: Long-Term Container Rates Collapsed with More Pain Ahead

Contracted long-term ocean freight rates collapse during May marking the ninth consecutive month of declines. The expiration of the 12-month contracts, which traditionally start over each May, contributed in large part to a dramatic decline of 27.5 percent and a further demonstration that the era of high demand, lack of…

Jun 01, 2023

Box contract rates plunge

The ocean freight industry saw a slump in global long-term rates of unprecedented proportions in May, as the contracted cost of shipping containers dived by 27.5%, according to the index developed by freight rate platform Xeneta.

Jun 01, 2023

China’s Recovery Slows Further as Factory, Services Activity Pulls Back

China’s factory activity contracted for a second straight month while growth in the services sector slowed, the latest signs that the country’s reopening growth momentum is struggling to take hold.

Jun 01, 2023

Companies Find Ambitious Logistics Strategies Haven’t Delivered

Companies that set out to build e-commerce fulfillment services when pandemic-driven online sales boomed are now reining in their logistics ambitions.

Jun 01, 2023

Air Demand ‘Challenging to Read,’ but Lower Prices Were Good News for Gap, A&F

Jun 01, 2023
The decline in air cargo demand appears to be slowing, leading to an influx of capacity not seen since the pandemic started.
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FedEx agrees to tentative deal with pilots

Jun 01, 2023
FedEx Corp. and the union representing its pilots said Wednesday they have reached a tentative agreement on a new contract that will ensure uninterrupted parcel and freight service if approved by rank-and-file pilots.
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