Global shipping faces dual challenges: the drought of the Panama Canal and the security threat of the Suez Canal
4 December 2023
The two world’s largest shipping gorges, the Panama Canal and the Suez Canal in Egypt, have faced serious transportation challenges in recent years. The drought crisis in the Panama Canal has caused congestion, while the Suez Canal has been affected by security threats and potential additional pressure. The two shipping channels have had a significant impact on global trade, forcing many shipping companies and export companies to rethink the issue.
At the end of the year, high-season sellers face rising airline prices and operational tensions
December 1, 2023
As the end of the year approaches, the cross-border e-commerce market has entered the boom season, but at the same time, sellers also face major challenges in air transport logistics. According to recent market feedback, after entering October, air transport prices continue to rise, mainly due to the joint role of several key factors.
The General Administration of Customs relaxes processing trade measures to promote stable economic development
November 28, 2023
In order to stimulate the potential of processing trade and contribute to the stable development of the economy, the General Administration of Customs issued the Announcement on the implementation of measures to relax the deadline for the declaration of deep processing and concentration of processing trade (Announcement of the General Administration of Customs No. 166 of 2023) These new measures will be implemented from November 14, 2023, mainly including: 1.
Global intermediate product exports will continue to decline in 2023
24 November 2023
In the second quarter of 2023, global exports of intermediate goods (Intermediate Goods, IG) showed a continuous downward trend, with a year-on-year decrease of 8%, totaling $2.3 trillion. This decline is due to reduced global consumer demand, mainly affected by high inflation and high interest rates, as well as stagnant commodity prices. In addition, the IG indicator of global supply chain activities, namely...
Thailand’s Land Bridge Project: Expected to Redirect the Global Shipping Pattern
22 November 2023
The Thai government recently launched a massive project worth $28 billion aimed at building a “l(fā)and bridge” to circumvent the bustling Malacca Strait. This initiative is expected to significantly reduce shipping time between the Indian and Pacific Oceans while reducing transport costs and has a profound impact on global shipping.
The impact of the growth of US oil exports on the global oil market
20 November 2023
In recent years, U.S. oil production has continued to grow, especially in the first nine months of 2023, with oil exports to overseas markets increasing by one-fifth compared to 2022, reaching about 4 million barrels per day. This growth has had a significant impact on the global oil market, especially against the backdrop of OPEC+ countries implementing production cuts.
Indias Ministry of Commerce and Industry Innovation Initiative: Automated Exporter Identity Certificate
16 November 2023
The Ministry of Commerce and Industry of India has taken a major step in improving the facilitation of foreign trade. Recently, Co-Minister Shri Piyush Goyal announced an innovative initiative, namely, the automated issuance of exporter identity certificates under the Foreign Trade Policy (FTP) in 2023. This change means that exporters will no longer need to submit applications to the General Administration of Foreign Trade (DGFT), but through...
Chinas steel exports increased by 34.8% in October
15 November 2023
Recently, data released by the General Administration of Customs of China showed that Chinas steel exports were strong in the ten months prior to 2023, up from 34.8% to 7473.2 million tons. This growth momentum has caused widespread attention in the market, especially in the context of the complex international political and economic situation.
US trade deficit widens in September: Challenges remain behind favorable export performance
13 November 2023
According to recent data released by the U.S. Department of Commerce, the trade deficit in commodities and services increased by 4.9 percent in September to $61.5 billion, above the $59.8 billion expected by economists. This growth is mainly due to the increased demand for foreign goods by U.S. consumers, the deficit in Chinese trade.
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