Container shortages have eased, with the current issue now being congestion at key international ports.
LOGISTICS
More space and cheaper rates on the floating market continue to entice importers with fixed-rate contracts looking to take advantage of near-term cost savings, said Flexport.
Excess available space pushed Asia – US West Coast rates down 29% in June, while prices have decreased only 4% so far in July, per Freightos.
Asia-Europe Q3 volumes are up, however the overall market is relatively stable with no major surge in volumes, said Flexport.
Port worker strikes at major European ports and the threat of strikes at US ports is adding further pressure to supply chains.
Local lockdowns in China are causing regional port congestion, per multiple sources.
Sri Lanka’s port operations and related services are functioning as usual without interruptions, despite the state of emergency and curfew, according to GAC, a Swedish port agent.
Recent reports of an increase in blank sailings may explain the recent leveling off, as rates have fallen only about 4% so far in July, said Freightos.
INDUSTRY OUTLOOK
The Great Deceleration
The pandemic-driven retail boom has now been met with growing inflation and waning consumer sentiment. While most analysts are not expecting the market to bust, there are specific danger zones, as well as hot spots, that companies need to be aware of. Read More
PODCAST
Why Every Executive Needs a Personal Leadership Brand
Leadership and branding are two words that don’t typically appear in the same sentence.
But what if to be more successful senior executives need to combine the principles of both branding and leadership?
Brenda Bence has deep experience in both branding and leadership.
She spent 20 years working in six countries in Europe and Asia leading billion dollar consumer brands for Procter & Gamble and Bristol-Myers Squibb, and has since coached over a thousand leaders from around the world.
Brenda believes that every great leader has their own personal brand.
In this podcast she talks about
- What a ‘personal brand’ is and why it plays a critical role for leadership success.
- How to get started identifying and building our leadership brand.
- Errors that leaders might not realize they make that undermine their brand image.
MATERIALS SOURCING
The Art of Reinvention
“Being a textile mill is like running a restaurant. We have to keep adapting to meet what our customers want,” said Vitaya Likittanawong at L.V.W. Group. There’s also the need to be able to respond quickly to urgent needs and maintain costs. Read more
ENERGY
Indian oil refiners have been buying up Russian oil sold at hefty discounts, which is helping to reduce losses for state-run refiners selling fuel and lower prices on the domestic market, per Wood Mackenzie.
MATERIALS
Cotton is down 35% from an 11-year high of $158 hit in May amid concerns of weak demand after China adopted fresh covid curbs, said analyst reports.
A reversal in consumer demand in major markets is continuing to push down materials prices.
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