European air travel will not recover to pre-pandemic levels until 2025 due to the recession, the war in Ukraine and higher fuel prices, said ACI Europe, the European division of the Airports Council International. It expects 2023 travel to be 9% lower than 2019.
LOGISTICS
For January 2023, carriers have announced 40 blank sailings for the Transpacific Eastbound Lane in an effort to curb excess capacity, per UPS.
Ocean carriers will plan more blank sailings for Q1 2023, most to take place one to two weeks prior to Lunar New Year, according to Flexport.
On Indian Subcontinent to North America routes capacity will be removed if carriers implement blank sailing programs. This is starting to happen on services to the US West Coast already, said Flexport.
Air Cargo rates out of China have seen a 20% increase due to increased demand for airfreight and the reduced belly capacity, per UPS.
MATERIALS SOURCING
Seeing An Opportunity in Smaller Orders
While most factories were targeting large orders, Erawan chose to go in the opposite direction and build their business on serving the growing demand for smaller orders.
“Our business model is based on understanding our customers’ changing requirements and adapting to them,” said Komson Supamit.
Erawan, which is vertical from spinning to garment production, can take orders as small as 5,000 yards. Read More
PODCAST
Innovative Technologies That are Shaping the Future of Business
Organisations of all sizes are looking to new digital solutions to help them successfully navigate complex and often fast changing environments.
Newer technology solutions are providing more immersive ways to use applications, as well as far greater predictive capabilities.
In this podcast Slava Podmurnyi, Co-founder and CEO at Visartech, a software development agency that helps companies create and implement advanced technologies to transform their business, discusses new developments in SaaS products, interactive apps and metaverse platform.
You’ll Learn:
- Digital Twin Technology: A Brand New Way of Business Process Transformation.
- How To Align Metaverse Solutions With Your Specific Business Goals
- Web 3D Technologies: The Driving Force To Provide In-Depth Content Perception
MARKETS
The UK has slipped into a recession, which is forecast to last through 2023, according to KPMG. The accountancy firm cited surging fuel and food prices as prompting UK citizens to cut back on discretionary spending.
MATERIALS
Cotton futures rebounded to their highest in over two months, supported by a weaker dollar and expectations of lower supply in major producers India and Pakistan.
Cotton yarn prices were up week-on-week, but remain well below price levels seen in the second half of the year.
Crude oil prices rose during the week driven by a surge in holiday travel and reduced US oil supplies.
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