Īmazon Expands Hydrogen Supplier Deal As It Strives For Carbon Neutrality. ![]() For more information, consider reading International Arbitration 2022 and Dispute Escalation Provisions And International Arbitration - A Rising Threat In England & Wales. Rising inflation, geopolitical conflicts, contract termination provisions, and a rise in insolvency are all potential factors that could lead to this continued rise in international arbitration. This comes for a number of reasons, but largely due to significant time, cost, and liability issues that are saved by using the procedure. International arbitration is becoming the preferred method for global supply chains in order to resolve cross-border disputes. The Power Of International Arbitration Amid Supply Chain Disruptions. Now, it is at 9K and continues to drop according to Saade. For more, consider reading Shipping Giant CMA CGM Sees Softening Of Global Freight Rates and Hutchison, CMA CGM and COSCO Invest In Expanding Egyptian Terminals. Freight rates between the North of Europe and China were nearly $14K during COVID for an average 40-foot container. “What we’ve been seeing now for many weeks is a decrease of freight rates in almost all sectors/” stated CEO Rodolphe Saade. CMA CGM, one of the largest container lines in Europe, has reported that logistic issues being cleared up have resulted in demand decreasing. □ Shipping Giant CMA CGM Sees Softening Of Global Freight Rates. “The average vacancy rate for warehousing and distribution facilities in the US was just 3.7% in Q2 2022.” This demand has been confirmed by large players in the supply chain space as well. Retailers are not in a hurry to ship across seas since their warehouses are currently stuffed to the brim. Container spot rates from Asia to the US West Coast have plummeted nearly 24% since early July. Ĭlogged US Warehouses Accelerate Decline In Trans-Pac Spot Rates. For more information on the Felixstowe strike, read Felixstowe Port Disruption ‘Could Continue Until Christmas’ Says Union. ![]() This clearly doesn’t seem fair to Unite, as the company recorded a 75% profit increase in 2021. Members rejected the 8% average pay offer from the Felixstowe Dock and Railway Company, as it was not even higher than the rate of inflation. Following failed wage negotiations, over 1.9K Unite union workers have walked out for 8 days in the UK’s largest container port in Felixstowe. $4.7B In Trade To Be Delayed In Eight-Day Strike At Port Of Felixstowe.
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