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tariffs on imports from Canada, Mexico, and China is impacting global trade networks, affecting industries ranging from automotive and electronics to agriculture and energy. auto parts are sourced from Mexico, making the tariff impact immediate and severe. China has tightened export controls on U.S. Approximately 40% of U.S.
Home Container rates surging as shippers rush ahead of deadlines – June 10, 2025 Update The Freightos Weekly Update keeps you informed on international freight with key economic data, demand trends, and rate insights. Air rates – Freightos Air index China – N. China – N. Europe – N.
It creates a single source of truth for your rate management, automating RFQs and streamlining the entire procurement process. billion rate data points monthly to provide the most comprehensive view of the market, helping you identify savings opportunities and make data-driven decisions.
More concerning, we found that manual processes have an average error rate of 4-6%, which may seem small until you consider the impact on a $50M+ freight spend. We’re talking about solving for the entirety of the procurement lifecycle from strategic sourcing through execution and analysis.
Home Meet Freightos Procure: The Next Evolution of SHIPSTA Freightos Procure rebrands SHIPSTA, enhancing procurement with market intelligence and seamless booking within the Freightos Enterprise suite, empowering shippers to manage the entire freight lifecycle efficiently. Leadership Perspective We’re not just changing a name.
Value networks do not interoperate and the business leader trying to track shipments must manually sync multiple data sources to get to answers. Freight Rates 2019-2021. As a result, companies plug along planning based on historic lead times and freight rates which as you can imagine is doomed for failure. Why I Am Worried.
The Initial Hurdle: 2021’ Freight Fiasco During the COVID-19 pandemic, Conor from Fort Toys , like many other entrepreneurs, found himself dealing with skyrocketing demand… and skyrocketing freight costs. to 0.85 (Source: ShipBob ). One of the most prominent shifts has been sourcing patterns. The key takeaway?
If you don’t want to click through, you can subscribe to our weekly roundup or visit our own COVID-19 update page , which includes expert tips for managing freight during the crisis alongside the latest developments in logistics. Finally, you can always get free access to our Freightos Baltic Index daily freight index here.
Air Freight Rates Peak, Ocean Rates Slowly Sink: Freight Rate Update Wk 50. Beyond bad weather and peak season, there are several other contributing factors for the air freight increase, including brisker world trade, burgeoning cross-border e-commerce, and air freight growth for several non-retail sectors. China-Europe.
However, as air freight rates climb and capacity tightens and questions regarding the future of US de minimis, interest in ocean freight services is on the rise. Indeed, over the past couple of years, online platforms have introduced ocean freight services that target SMBs. fulfillment center network. fulfillment center network.
The threat of tariffs prompted companies to preemptively order goods and stockpile inventory to avoid cost-prohibitive levies—tariffs that would have significantly reduced, if not eliminated, demand, particularly for goods from China, their primary target. China accounts for the largest share of U.S.-bound ports in the coming weeks.
This strategic move has not only circumvented significant costs but also dramatically increased air cargo demand from China, particularly from hubs in Hong Kong and Guangzhou, impacting traditional logistics and shipping frameworks. From Q3 2021 to early 2022, Freightos Air Index China-U.S. These rates dipped to around $3.50/kg
Home Meet Freightos Procure: The Next Evolution of SHIPSTA Freightos Procure rebrands SHIPSTA, enhancing procurement with market intelligence and seamless booking within the Freightos Enterprise suite, empowering shippers to manage the entire freight lifecycle efficiently. Leadership Perspective We’re not just changing a name.
But SHIFEX, the freight forwarder rate index, recently recorded the lowest ocean freight rate between China and the port of Long Beach in 24 months —a rate of $3,500 to move a 40-foot container. Economists are beginning to speak of “immaculate disinflation.” This is an 80% drop year on year drop.
The international inbound transportation service is only available to Walmart Fulfillment Services (WFS) sellers that source or manufacture goods in China, and all cargo must be shipped from Yantian, Shanghai, or Ningbo ports. according to the Walmart Marketplace website. according to the Walmart Marketplace website. from May’s 2.24
Growing tensions between China and trading partners. As consumer spending fell, the days of escalating ocean freight and extreme shipping variability eased this year. Build in-market sourcing. Rationalize global strategies to focus on building markets based on in-market sourcing. Over four-hundred days of war in Ukraine.
The two recent crises in global trade – the outbreak and the US-China trade war – show how vulnerable small and medium size businesses (SMBs) can be to shocks to the supply chain, but also point to ways to mitigate that risk. million freight containers each year. The (Digital) Rise of SMBs. Coronavirus Impact.
A lot of companies set up operations and sourced from Mexico back in the 90s, then the focus shifted to China and other Asian countries, and now Mexico is back in the spotlight. We’ve seen, for example, instability in ocean freight, cost, and issues with [Los Angeles] ports in past years. Luckily for Mexico, the U.S.
Wouldn’t it be amazing if someone could cut through the hype and summarize the key freight and logistics trends every month? If you prefer to find the news yourself, head over to our free roundup of nearly 100 digital logistics and supply chain news sources. China’s slowing economy is generally bad news for the freight industry.
Since we live and breath freight, we constantly come across information that’s critical for our customers – logistic providers, shippers and carriers. And as freight innovators ourselves, we love seeing more innovation. Freight Rates News that rates for freight and logistics trends – October 2015.
The sheer influx in demand, combined with the variety of supply chain stressors, also catapulted global freight to new levels of infamy (although none perhaps as famous as the Suez Canal blockage). Freight rates as a forward looking indicator of CPI. Let’s start by taking a look at global ocean freight prices. Sources: U.S.
Without a doubt 2020 will be etched in our memories as the year of multiple disasters, with the Covid-19 pandemic, trade issues between the US and China, wildfires in Australia, social unrest in Hong Kong, drastic declines in oil prices, turbulent financial markets and other politically dominated issues in emerging markets.
A global market defined by tariffs and uncertainty has left express provider FedEx rushing to adapt to lower demand and changes in trade lane patterns, which the China-US route has long dominated. Shipment volumes between China and the US, its largest lane by revenue, dropped sharply and remained low throughout the quarter.
And on our direct imports over the last several years, we've reduced the share from China north of 90% to currently below 70%, and we're on track to be closer to 50% by year-end. Brian Grass - Chief Financial Officer We also began dual sourcing more of our production and are now intensifying those efforts even further. Christopher J.
For example, it can look like imports from China are cheaper than the same goods imported from Mexico if a company is not relying on analysis produced by an advanced good global trade compliance (GTC) system. Furthermore, the transit time from Mexico averages just 8 days versus 40 to 48 days from China. FTZ’s have many advantages.
and global ports, with highly complex air freight systems suffering the heaviest hit, as global airlines grounded flights. and global ports, with highly complex air freight systems suffering the heaviest hit, as global airlines grounded flights. Dozens more are awaiting delivery to China.
Importing From China! Either they can’t get products at all or there is a massive delay in when they can get them, resulting in upset customers, frustrated business owners, and overworked freight companies. Here are the three ways a 3PL fulfillment agent in China can keep your e-commerce company competitive. The Essential Guide!
Unifor claims that the company is pushing to implement changes to pay systems that would have drivers travel more than 60 miles to get to their routes or pick up freight with no compensation. Hunt, BNSF and GMXT Launch Intermodal Freight Delivery Service in Mexico More from this author Subscribe to our Daily Newsletter!
Strategic rethink in supply chains With such a substantial shift in operating costs over the short and long term, as well as an increased risk of dislocation disrupting supply chains, businesses are reconsidering their strategies, with major implications for global manufacturing and sourcing.
Carriers, freight forwarders, and shippers that were dealing with the China to North America trade lanes were already operating in crisis mode. 336,500 TEUs were transported from China to the EU by rail in the first six months of 2021, that is 44% more than 2020 and 99% more than in 2019. More than 2,100 U.S.-based
The impact of the COVID-19 pandemic followed by supply chain disruptions around the world has sparked a resurgence of companies bringing sourcing and manufacturing back to the United States or closer to U.S. Companies are coping with rising costs to source and produce goods in China and other Asian locales. trade with Asia.
UPS Broadens Multimodal Express Portfolio with China-Europe Rail Offering. Moving on to other news, UPS announced the addition of a Full Container Load (FCL) rail solution to its China-to-Europe transportation lineup. Combining the rail movement with a truck network, UPS can provide service to customers throughout China and Europe.
In two recently published scientific papers , an international team of scientists offered the strongest evidence to date that the COVID-19 pandemic originated in animals at a market in Wuhan, China. So how did an African pangolin end up in a food market in China?
A TMS helps companies move freight from origin to destination efficiently, reliably, and cost-effectively. Finally, in making sourcing decisions, global trade compliance needs to be part of companies strategic sourcing programs. Secondly, one core supply chain application is a transportation management system.
Reported May 20 Let me take a moment to comment on our global sourcing strategy. Today, more than 50% of our purchases are sourced in the United States. During that period, the vast majority of our supplier partners developed diversified sourcing strategies across several countries, including the United States.
One-third of respondents (33%) paused shipments entirely, while 29% are exploring alternative sourcing options outside of affected regions. Interestingly, while rates from China have declined, prices from Taiwan and Vietnam have remained elevatedlikely reflecting importers’ rapid pivot to alternative sourcing markets.
For many years the predominant priority in sourcing has been finding the lowest cost possible. What is the appropriate sourcing strategy going forward? Should you keep work in low cost geographies, establish sources in multiple geographies, or on-shore work into high cost domestic countries? Geographic Sourcing History.
His mission is to help craft the firm’s growth strategy while assisting with deal sourcing, capital raising, and the creation of value within portfolio companies. John also shared his logistics industry outlook which includes insights on the truckload, LTL, and freight brokerage markets. market share could grow to have 3.0%
Thanks to container prices rising as much as 600%, money that could be used for advertising went to freight companies instead. 28% of global retailers have tried to find alternative sourcing options due to supply chain issues (RetailNext, 2020). Source: Consultancy.UK. Image source: Fortune. Image source: Financial Times.
Value networks do not interoperate and the business leader trying to track shipments must manually sync multiple data sources to get to answers. Freight Rates 2019-2021. As a result, companies plug along planning based on historic lead times and freight rates which as you can imagine is doomed for failure. Why I Am Worried.
Walmart announced that it will pilot agriculture technology with crop supply intelligence company Agritaskto get real-time information on crops and improve sourcing decisions around produce. The USDA has estimated that 30 percent of food loss occurs during agricultural production and harvest.
The surging Delta virus, devastating floods in China and Germany and cyber attacks on South African ports are amongst the latest in a series of events that continue to send shock waves throughout the system. For more than a year, global supply chains have been buffeted by one major disruption after another. The impact?
But then global freight kicked in. . It really got tricky when we hadover thousands of unitsin production and were starting to book freight and suddenly realized that the cost of freight was almost 4 or 5X what we had budgeted. Take Conner, the manufacturer of FORT, a magnetic pillow fort. It’s suddenly about the economy.
Riding this wave were droves of Chinese or Indian manufacturers that can now tap into digital platforms to source, import and sell directly to SMBs or consumers online. Two Retail Paths Diverged In The Forest… Alibaba and Amazon are at the heart of the new digital sourcing and retail, both with very different methods.
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