The year 2024 saw global wine consumption hit its lowest consumption level in 60 years, since 1961. This decline can be attributed to numerous economic and geopolitical factors, such as inflation and global uncertainty, as well as an evolving market shaped by changing lifestyle preferences,...
The 2nd of April saw Trump unveil his schedule of tariffs which will vary by country. These duties will apply to all goods imported under current U.S. trade agreements, except where otherwise specified. Baseline Tariff Nations: including Australia and New Zealand According to the Executive Order (section...
United States President Donald Trump's announcement of tariffs on the nation's three biggest trade partners, Canada, Mexico and China, has raised global market concerns. The three tariffs, consisting of 25% tariffs on Mexican and Canadian imports and an additional 10% on China, have momentarily been paused...
According to The United Nations Conference on Trade and Development (UNCTAD), world trade is on track to reach a record US$33 trillion in 2024. This represents an annual growth rate of 3.3% and highlights the resilience of global trade despite persistent challenges. However, despite this monumental...
A new direct freight service between Shanghai and Fremantle ports is set to boost trade between Western Australia and China, its largest trading partner, reducing shipment time from 30 days to 14 days. This new “direct” route effectively removes the need to discharge cargo at the...
Kazakhstan Railways (KTZ) recently signed a memorandum of cooperation with Xi'an Free Trade Port Construction and Operation (China) to create a joint intermodal cargo terminal on the Danube River in Budapest, which is part of a comprehensive network for multimodal transports in Europe. With a capacity...
Continuing rising demand has seen global air cargo experience a 9.4 per cent year-on-year growth. The Asia-North America route has hit 11 consecutive months of growth, rising by 7.6 per cent in September, and holding 25 per cent of the world's trade share. The Europe-Asia trade lane...
As industrial action takes hold, Canada's top three ports have been impacted with such significant levels of disruption that they are effectively no longer operating. The start of November has seen the start of an indefinite strike at the Port of Montreal's Viau and Maisonneuve terminals...
The combination of record September import levels, strike diversions and continued Red Sea disruptions has resulted in congestion and extended dwell times of up to an average of 9.25 days at Los Angeles and Long Beach, the highest since 14.2 days in October 2022. With only...
Government delegates from around the world at the International Maritime Organization (IMO) have progressed closer towards toward global greenhouse gas regulations aimed at cutting the carbon intensity of shipping by 40% by 2023. A draft legal text which is to serve as the basis for ongoing...