November 07, 2024
This week the focus is on concerns around increased tariffs when the Trump administration enters the White House in January.
There’s lots of speculation, however it is still early days and, as we’ve learned, things could change.
LOGISTICS
China-East Coast volumes are returning to normal levels, with some carriers and service routes already fully booked or experiencing capacity constraints through November, per Flexport.
There could be some orders pulled forward to get ahead potential tariff increases, per Freightos.
On China to Europe routes, a 15-18% capacity cut is expected in November, with ten void sailings announced so far, which will continue impacting market supply, per Flexport.
Intra-Asia rates for key routes, like China to India, have tripled since early September. Major carriers, such as CMA CGM and Maersk, are capitalizing on this tighter market with peak season surcharges of $100 to $1,500 per container on various Asia routes, per UPS.
Logistics experts expect the air cargo sector’s busy season for cross-border shipping to continue in the first quarter of 2025, per UPS.
Logistics Outlook, New Services, plus Air Cargo rates
This month Prof. Calvin Wong, CEO of AidLab, talks about how AI could impact the apparel and textile industry. He shares some of the models his lab is working on that have practical application for industry.
Find out AI will help make the industry more resilient – and become an important tool that supports people, instead of replacing them. Read more
PODCAST
Everyone wants great supply chain visibility, however most companies are hesitant to commit huge capex budgets to achieve this.
New innovations in cloud-based software are now enabling companies to get better insights into their supply chains, with less investment.
In this podcast Jonathan Porter, the founder and CEO of PorterLogic, a low code application platform specializing in supply chain technology, talks about how to integrate new SaaS solutions into your legacy systems – to save both time and money.
You’ll Learn:
SUSTAINABILITY
Crystal International Group (Hong Kong) has announced its Crystal Sustainability Vision 2030 (CSV2030), spearheading sustainability in the garment manufacturing industry, and following through on its 5-year Global Sustainability Targets. Read more
Cone Denim (USA) has installed solar panels at its Jiaxing, China denim mill, giving the company the opportunity to scale its efforts on clean energy and carbon reduction. Read more
MATERIALS
Cotton prices fell on weak demand and global uncertainty. This putting more pressure on polyester prices.
Oil prices jumped on as a Trump administration is expected to stimulate US economic growth and boost consumption.
An expanded list of materials prices is available here.
MARKETS
The Fed is expected to announce a 0.25% rate cut at its meeting today.
The Bank of England is expect to cut interests by 0.25% today.
Analysts are still trying to process how Donald Trump’s landslide win in the US presidential elections this week will impact global markets.
CURRENCIES
The US dollar surged to a 4-month high as Donald Trump won the US presidential election. Global currencies fell as markets tried to price in a potential change in US policy, along with expected rate cuts from the Fed and the Bank of England.
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