The Panama spread (FBX.PANA) widened last night when Freightos released new container rates for this week: rates from China to the American East Coast (FBX.CNAE) climbed to $3,683, while rates to the West Coast (FBX.CNAW) fell slightly to $2,527.
The North Carolina Department of Transportation says not to travel in or to the state; Walmart grabs a 200K square foot foothold in NYC; the IMF says British economy will contract if no deal on Brexit; Freightos raises $45M; global seaborne coal trade grows 4%; Tesla’s having a hard time delivering cars.
Freightos raised an additional $44.4 million in a third round of funding, led by the Singapore Exchange, as it seeks to expand into risk management tools for container shipping.
The Freightos Baltic Container Price Index shows the volatility of container prices out of China to the North American West Coast as importers try to adjust to a new era of global trade.
High capacity, steady rise in oil prices, a weaker U.S. dollar and a dull spot market had sunken margins of shipping majors in Q1 2018.
China-U.S. ocean freight rates have been falling continuously for the record 32nd week, in the wake of the Chinese New Year and a continous surge in capacity.
Despite its consistent growth, international trade is very fragmented with small businesses accounting for 1/3rd of U.S. imports. So how would freight movement be for such companies in the future?
It is estimated that international trade-related freight transport accounts for nearly one-third of the total emissions across the world. Such situations call for innovation in the freight industry that could help mitigate carbon footprint through optimizing fuel consumption and improving operational efficiency.
