Impact of impending strike on US container shipping
September is traditionally one of the busiest months for containerized imports into the U.S. as companies prepare for the holiday rush, a boost to the peak shipping season. However, this year has presented an unprecedented combination of challenges that could severely impact supply chains. Potential strikes, natural disasters, and tariff uncertainty are converging to create a highly volatile environment for global trade. This is also causing retailers to place orders forward, resulting in ample inventory in the U.S. See also: U.S. freight volumes steady, container prices not plunging In August 2024, U.S. containerized cargo imports increased 12.9% year-on-year, with major ports handling nearly 2.5 million TEUs. While this reflects strong freight demand, it also heightens concerns about an impending labor strike on October 1. "The potential for a strike at ports on the U.S. East Coast and Gulf Coast adds uncertainty to container shipping professionals doing business in the United States," Christian Roeloffs, Co-founder and CEO of Container xChange. For…
TIA report shows freight industry fraud crisis growing
The Transport Intermediaries Association (TIA) has released its 2024 State of the Industry Fraud Report, revealing the growing threat of fraud in the transport and logistics industry. The report provides a comprehensive analysis of financial losses and highlights the urgent need for stronger protection measures as fraud continues to surge throughout the supply chain. See also: Maintaining a secure supply chain: Responding to a surge in fraud and cargo theft “Our industry is suffering, and authorities are not giving us enough support to deal with this crisis,” said Anne Reinke, president and CEO of TIA. “Fraud in the supply chain not only affects businesses, but also consumers and the economy as a whole. This is a multi-million dollar problem that requires immediate action.” The report, based on responses from 200 TIA members, details the most common types of fraud, regional hotspots and the products most often targeted. It also highlights the heavy financial burden that fraud places on businesses and…
TIA report shows freight industry fraud crisis growing
The Transport Intermediaries Association (TIA) has released its 2024 State of the Industry Fraud Report, revealing the growing threat of fraud in the transport and logistics industry. The report provides a comprehensive analysis of financial losses and highlights the urgent need for stronger protection measures as fraud continues to surge throughout the supply chain. See also: Maintaining a secure supply chain: Responding to a surge in fraud and cargo theft “Our industry is suffering, and authorities are not giving us enough support to deal with this crisis,” said Anne Reinke, president and CEO of TIA. “Fraud in the supply chain not only affects businesses, but also consumers and the economy as a whole. This is a multi-million dollar problem that requires immediate action.” The report, based on responses from 200 TIA members, details the most common types of fraud, regional hotspots and the products most often targeted. It also highlights the heavy financial burden that fraud places on businesses and…
Class 6 Truck Market Size Expected to Exceed $29.6 Billion in 2020
The Class 6 truck market will grow from $16.1 billion today to more than $29.6 billion by 2032, according to a new research report Global Market Insights Also read: Self-repairing trucks and three other innovations that will transform supply chain operations This growth trajectory is primarily driven by the growing demand in utility services and construction applications, coupled with ongoing advancements in truck technology and design. The market is likely to benefit significantly from increasing infrastructure projects, urban expansion, and the growing demand for versatile and efficient multi-purpose vehicles. The market is supported by ongoing efforts in sustainable innovation. For example, in May 2024, ZM Trucks, an emerging commercial truck brand focused on zero emissions, announced that it will debut at the Advanced Clean Transportation (ACT) Expo in Las Vegas and showcase five models in the Class 4, 5, 6 and baby 8 segments. In addition, enhanced design and technology make these trucks an integral part of modern infrastructure and…
Artificial intelligence to save us: New study shows ChatGPT can change
Recent research from MIT Sloan and American University reveals a surprising ally in the fight against conspiracy theories: artificial intelligence. A study led by professors David Lander, Thomas Costello, and Gordon Pennycook shows that AI conversations can effectively reduce people’s belief in conspiracy theories — and that the effects last for at least two months. Also read: 9 counterintuitive trends in artificial intelligence In their paper, “Sustained Reduction of Conspiracy Beliefs through Conversation with AI,” published in the journal Science, researchers show that large language models like GPT-4 Turbo can engage conspiracy theorists in personalized, evidence-based conversations to challenge and refute their beliefs. This technology offers a potentially powerful tool to combat misinformation in a way that human conversations typically can’t. Testing conspiracy beliefs about AI The study invited more than 2,000 conspiracy theorists and asked them to explain their beliefs and evidence in their own words. GPT-4 Turbo was then used to develop customized arguments to address these specific…
Freeport marks historic milestone with zero tariffs
On September 12, the Freeport Commission voted to adopt a zero tax rate for the first time ever, marking a new era of financial self-reliance for the Freeport. The move means that the Freeport will no longer collect taxes from the public, a major milestone in the port’s nearly 100-year history. Freeport was founded in 1925 when Brazoria County voters approved the creation of the Brazos River Harbor Navigation District (now Freeport) and a $1 million bond issue to work with the U.S. Army Corps of Engineers to divert the Brazos River. This pivotal decision laid the foundation for economic growth and prosperity in the region, and today’s tax independence reflects that legacy. Reflecting on the achievement, Chairman Ravi Singhania commented: "This milestone is a testament to the hard work and vision of current and former commissioners and staff. It all started with the bold decision of voters in 1925, and we are very proud to carry on their legacy."…
CPC Logistics Team Drivers Shine at 2024 NPTC National All-Stars Race
Five outstanding drivers from CPC Logistics were honored as 2024 National All-Star Drivers, an award presented by the National Private Truck Council (NPTC) at its annual National Safety Conference in Orlando, Florida, on September 5. The award recognizes drivers who excel in customer service, safety, regulatory compliance and community involvement. See also: CPC Logistics Honors Hall of Fame and All-Star Drivers at NASCAR Events The following CPC drivers were recognized for their outstanding contributions: 1. Jose Cruz, Toyota Quality Parts Express, South Gate, California 2. Jerrid Gossett, Fabri-Kal from Valhalla, South Carolina 3. Ricky Owens, Walgreens clerk in Easley, South Carolina 4. Christie Tilton, Procter & Gamble, Eaton, Ohio 5. Brian Troutman, John Deere, Wayland, Iowa Recalling his experience of winning the award, Troutman attributes his success to the values passed down by his father. "Regardless of what company's name is on the truck, treat it like your own. Take pride in maintaining the vehicle and satisfying the customer, that's…
Leveraging automation and machine learning to ease port
In an increasingly fragmented global supply chain, ongoing port congestion has reached a tipping point, with many major ports struggling to handle incoming and outgoing cargo. Highlight The congestion level of each port is as follows: in the first half of 2024, the average waiting time at Durban Port is 8 days; the average waiting time at Ningbo-Zhoushan Port is 6.1 days; the average waiting time at Vancouver Port is 4.28 days; the average waiting time at Los Angeles Port is 3.6 days; and the average waiting time at Chittagong Port is 3.4 days. In addition, Estimated At risk is $131 billion in trade at ports such as Singapore, Tanjung Pelepas and Port Klang, where cargo has been severely backlogged in recent months, largely because ships have been diverted around the Red Sea. See also: Riding the wave: Examining the looming threat of port congestion As congestion periods become more frequent, costly and prolonged, targeted deployment of automation can streamline…
How to Incorporate Ethical Leadership Principles into
“Business ethics” and “ethical leadership” may be just buzzwords to the average executive. Almost every business claims to strictly adhere to these practices. Also read: Leadership and company values in the service logistics industry: It’s time to take action But in the busy world of work, where executives must communicate the bottom line to shareholders, how many executives truly use ethics as the North Star in every decision they make? How many people have received training? Where on earth do they begin? First, it’s important to understand that ethical leadership and decision-making is more than just the right thing to do. “Research consistently shows that companies that adopt ethical policies and practices achieve better long-term financial performance and tend to be more successful,” Greenlee said. Today's emerging workforce demands to work for companies where ethical leadership and corporate social responsibility (CSR) are key principles. On the other hand, customers tend to remain loyal to companies and brands that operate according…
How technology-driven solutions are changing profitability and
Financial stability is key for drivers in any successful logistics ecosystem, but in reality, many face real challenges: long delivery intervals, unpredictable schedules, and fluctuating income. These issues not only affect drivers’ income, but also disrupt the logistics chain including dispatchers, shippers, and retailers who need to deliver goods on time. See also: Riding the wave: How technology is revolutionizing ocean cargo tracking To address these issues, technology-driven solutions have emerged to improve driver well-being and, broadly speaking, operational efficiency. Logistics has undergone a radical transformation due to the gig economy of freelance and on-demand work. Crowdsourcing is a key component of this transformation, providing flexible delivery solutions and meeting the growing last-mile needs. According to a Gartner report, more than 30% of retailers said they plan to deploy crowdsourcing this year to optimize their delivery networks and reduce costs. Crowdsourcing enables companies to dynamically scale delivery resources, reduce costs and improve service levels. It provides retailers with the additional…
The power of data: using analytics to get smarter
Successful leaders in transportation industry organizations recognize the value of leveraging data analytics. Doing so can help logistics professionals plan shipments more efficiently and utilize resources more wisely. Also read: Resilinc's latest data shows that the number of supply chain disruptions will surge by 30% in the first half of 2024 It is useful to study real-world applications and strategies to better understand how companies can use data-driven insights to optimize operations, enhance decision-making, and ultimately improve transportation systems. Key Benefits of Data Analytics for Transportation Companies Here is an overview of the key benefits that transportation companies can gain from leveraging data analytics: Real-time vehicle tracking Using a transportation management system can give you better visibility into the location of each vehicle in your fleet. TMS for freight forwarders Keep managers and dispatchers informed of each driver’s location without having to contact them directly for updates. Optimize routes Of course, transportation companies must weigh a large number of variables…
Why use tube packaging? Explore the exciting
Many brands choose to package cosmetics and various other items in hoses. Hoses are widely used to package thick liquids, gels, ointments, and creams. They can also be used to package solids as they provide a layer of protection to prevent the contents from breaking. Due to the development of plastic hoses, hoses can now store a wider variety of contents, while aluminum hoses are no longer available. Also Read: How is Technology Disrupting the Packaging Industry? Despite this, paperboard and aluminum tubes are still widely used due to their eco-friendly credentials. Since tube closures are available in various sizes and forms, tubes are increasingly being chosen as packaging containers for many products. In addition to being affordable, eco-friendly, and capable of protecting active ingredients, they are also highly adaptable and convenient. Therefore, the tube packaging market is expected to grow at a considerable CAGR during the forecast period. Growing consumer preference for convenience and ease of use of household…
Despite challenges, supply chain leaders remain confident in recovery plans
New research from CargoWise shows that while supply chain professionals are increasingly diversifying their networks and leveraging real-time monitoring to address rising risks such as geopolitical tensions and cybersecurity threats, many may be overconfident in their ability to recover from disruptions due to a lack of consistent scenario planning. See also: GEP Report: Global manufacturing slowdown intensifies as supply chain capacity reaches peak in 2024 The study, Future-proofing Supply Chain Operations: Leveraging Technology for Lasting Impact, surveyed more than 450 global logistics professionals between March and April 2024. Findings show that while 57% of respondents are confident in their recovery strategies, only 32% regularly conduct scenario testing to assess their responses to potential threats. Key Insights Main concerns: Geopolitical tensions and cybersecurity threats are the top risks to global supply chains, with North American professionals particularly concerned about cyberattacks (28%, compared to a global average of 19%). Diversified and real-time monitoring: To mitigate risk, companies are prioritizing multi-sourced supply chains…
Business and Financial Planning: A Guide to Success
Planning is critical to the success of both business and personal finance. Without a clear strategy, businesses can easily fall into financial traps and individuals can struggle to effectively manage their wealth. This guide outlines the key steps in business and financial planning to help ensure long-term growth and stability. See also: Business Loan Guide: Key Strategies and Tips 1. Understand your financial situation The first step in any business or financial plan is to understand your situation. This involves a comprehensive assessment of your assets, liabilities, and sources of income. For a business, this may include financial statements such as a profit and loss report, balance sheet, and cash flow statement. Tip: Review financial statements regularly to identify trends and potential problems early. Conduct a SWOT analysis to understand the internal and external factors that affect your financial health. 2. Set clear financial goals Whether you are running a business or managing your personal finances, it is vital to…
The global manufacturing slowdown deepens, supply chains
The GEP Global Supply Chain Volatility Index for August 2024 showed that global procurement activity contracted by the largest amount since December 2023, with manufacturers in North America, Europe and Asia reporting underutilization of capacity. The index fell to -0.37, the lowest level this year, indicating falling demand and overcapacity among global suppliers. See also: GEP Global Supply Chain Index predicts manufacturing downturn will continue until 2024 The North American market was the weakest, with a sharp drop in demand for US factories, while the European manufacturing recession, affected by Germany and France, continued to deepen. Meanwhile, Asian suppliers, including China, have idled capacity for the first time since March, although India remains a major supplier. Despite weak market conditions, UK manufacturers are still operating at close to full capacity. The report highlighted shrinking global demand, lower inventories, fewer material shortages, stable labor conditions and slightly lower transportation costs as manufacturers brace for further economic headwinds. GEP President Neha Shah…
3 ways smart IoT technology can help tackle climate change
Supply chains have undergone rapid changes, with climate change emerging as one of the most critical disruptors. As extreme weather events continue to increase in frequency and intensity, they pose an unprecedented threat to global supply chains. Also Read: IoT in Warehouse Management Market: Revolutionizing Logistics with Connected Devices According to the World Meteorological Organization, weather-related disasters have increased fivefold over the past 50 years, resulting in more than $3.64 trillion in global economic losses. These disruptions are forcing businesses to rethink their risk management strategies and adopt more advanced, resilient approaches that go beyond traditional methods. Climate risk challenges in the supply chain Climate change affects supply chains in a variety of ways, including extreme weather, rising temperatures and shifting precipitation patterns that can disrupt manufacturing processes, delay shipments and complicate logistics. A stark example is the 2021 Texas winter storm, which caused widespread supply chain disruptions. Manufacturing and energy production came to a standstill, leading to ripple effects…
Hazardous goods supply chain faces obstacles…
Labelmaster, in partnership with the International Air Transport Association (IATA) and the Dangerous Goods Bulletin, has published the results of its Global Dangerous Goods Confidence Outlook 2024. This annual survey reveals innovations and challenges facing the dangerous goods (DG) and hazardous materials (hazmat) industries. The findings highlight advances in digitalization and sustainability, but also identify barriers that are hindering progress towards safe and compliant shipping. Also read: Best practices for global dangerous goods transportation “Like other industries, the DG supply chain is evolving,” said Robert Finn, vice president of Labelmaster. “The good news is that organizations are increasing their investments in digitalization and sustainability. However, these efforts still face significant challenges.” Key findings of the survey: Digitalization continues to advance, but challenges remain 83% of respondents said they were working to digitize DG operations, with initiatives including electronic documentation (52%), virtual training (51%) and paperless regulations (49%).– 80% face difficulties, with the biggest challenges being financial investment (86%) and supply…
Beyond hypergrowth: How the gaming business can thrive amid the rise of AI
The video game industry is no stranger to innovation and creativity. From its youthful and vibrant beginnings, the past few decades have seen technological breakthroughs, storytelling forms unfold in completely unexpected ways, and the way players enjoy the world has been revolutionized. With the entry of artificial intelligence into the industry, it is preparing for a new round of change. If the past decade was one of astonishing growth in the number of players and sales worldwide, the next fifteen will be something else entirely: video game companies must manage their growth more effectively, rather than simply rushing forward blindly and reaching stability later than their competitors. This change is not just a numbers game, not a waste of money, but to achieve sustainable technological progress. This means adapting to new technologies and even reshaping the player experience itself to a certain extent. Embracing AI: From Hype to Reality For example, some computer games have quietly incorporated AI. However, the…
TIA urges quick resolution of port labor dispute
With the International Longshoremen’s Association (ILA) threatening to strike at East and Gulf Coast ports, the Transportation Intermediaries Association (TIA) is calling for an urgent resolution to the labor dispute as the holiday season approaches. Also read: CH Robinson: How shippers can prepare for potential ILA strikes amid growing disruption in North American shipping landscape Anne Reinke, president and CEO of TIA, highlighted this significant risk, noting that a strike would severely disrupt supply chains, especially during the peak holiday shipping period. “With 43% of U.S. imports passing through these ports, any delays would create bottlenecks for industries ranging from retail to manufacturing,” Reinke said. TIA supports good-faith negotiations between the ILA and the United States Maritime Union (USMX) to avoid shutdowns that could impact the industry nationwide. The association also urges the Biden Administration to intervene, if necessary, to ensure that the U.S. supply chain remains intact during this critical time for businesses and consumers alike.
Hydrogen energy: Why your investment is not on the table
Clearly, hydrogen remains a core pillar in achieving net zero emissions, with hydrogen expected to account for 22% of global final energy demand by 2050. Also read: The growing green hydrogen market: A sustainable energy revolution Hydrogen is particularly effective in hard-to-decarbonize sectors of the economy, such as long-distance transport, because of its naturally abundant reserves and simple nozzle-to-pump filling distribution. With the global fuel cell electric vehicle market expected to be worth $428.7 billion by 2032, forecourt owners would be wise to invest in dedicated hydrogen pumps to future-proof their business. However, the investment also shows a significant financial contribution. Fueling company Dover Fueling Solutions explains why it is a wise decision that will pay off in the long run. How is hydrogen distributed and what is the cost? Hydrogen is transported primarily through three channels: pipelines, high-pressure pipeline trailers, and liquefied hydrogen tankers. Currently, pipelines remain the cheapest way to transport large quantities of hydrogen, with 4,300 km…
Hydrogen energy: Why your investment is not hanging in the balance
Clearly, hydrogen remains a core pillar in achieving net zero emissions, with hydrogen expected to account for 22% of global final energy demand by 2050. Also read: The growing green hydrogen market: A sustainable energy revolution Hydrogen is particularly effective in hard-to-decarbonize sectors of the economy, such as long-distance transport, because of its naturally abundant reserves and simple nozzle-to-pump filling distribution. With the global fuel cell electric vehicle market expected to be worth $428.7 billion by 2032, forecourt owners would be wise to invest in dedicated hydrogen pumps to future-proof their business. However, the investment also shows a significant financial contribution. Fueling company Dover Fueling Solutions explains why it is a wise decision that will pay off in the long run. How is hydrogen distributed and what is the cost? Hydrogen is transported primarily through three channels: pipelines, high-pressure pipeline trailers, and liquefied hydrogen tankers. Currently, pipelines remain the cheapest way to transport large quantities of hydrogen, with 4,300 km…
Shippers prepare for disruption, seek alternatives
As tensions rise between longshoremen and terminal operators on the U.S. East Coast, shippers and freight forwarders are anxiously awaiting the next development, while carriers are already preparing alternative plans for possible port closures. Also read: CH Robinson: How shippers can prepare for potential ILA strikes amid growing disruption in North American shipping landscape A recent analysis by eeSea Liner Database, examining the shipping industry’s response to the threat of a Canadian rail strike, provides insights into how carriers are responding to similar situations on the East Coast. Destine Ozuygur, eeSea’s head of operations and forecasting, said the Canadian rail strike, while short-lived, triggered a wave of port changes. In August alone, 19 vessels were rerouted to Seattle instead of Vancouver, with three more still changing routes. Some vessels even sped up their sailings on August 22 to reach their destinations before the strike’s 24-hour window, but were unsuccessful. The experience offers a glimpse into the kinds of quick adjustments…
ALAN calls on logistics industry to prepare for hurricanes
As Tropical Storm/Hurricane Francine intensifies, the American Logistics Assistance Network (ALAN) is calling on logistics companies to prepare for post-storm relief efforts along the Gulf Coast. With the storm expected to make landfall as a Category 2 hurricane, ALAN Executive Director Kathy Fulton stressed that the storm could cause widespread damage, including downed trees, power outages, and water system disruptions in Louisiana, Mississippi, and Texas. Inland flooding is also a major concern. Also read: Call for nominations: ALAN 2024 Humanitarian Logistics Award honours supply chain heroes ALAN has already begun receiving requests for assistance and is actively coordinating with nonprofits and emergency response organizations. To track the storm’s path and assess its impact on the supply chain, ALAN’s Supply Chain Intelligence Center provides real-time updates, and its disaster microsite offers important resources for businesses that want to contribute. Fulton also urged businesses along the Gulf Coast to prioritize employee safety and allow ample time to prepare or evacuate. ALAN is…
By 2025, the global solid-state battery market will exceed US$14.7 billion
this Global Solid-state battery market According to a research report by FBI & Consulting, the scale will grow from US$624.75 million in 2023 to US$16.88 billion in 2032, with a compound annual growth rate of more than 41.5% between 2024 and 2032. Also Read: Largest Import Market for Cells and Batteries The solid-state battery market is a rapidly emerging and attractive sub-sector within the broader energy storage and electric vehicle (EV) business. Solid-state batteries use solid electrolytes instead of the liquid or gel-like electrolytes used in typical lithium-ion batteries. In addition, consumer electronics such as smartphones, laptops, and wearable devices also use solid-state batteries. These batteries are attractive for a variety of portable electronic devices because they can provide more power for a longer period of time while reducing the risk of overheating. The rise of the renewable energy industry has had a major impact on the solid-state battery business. Solid-state batteries have higher energy density, improved safety, and longer…
Major import markets for petroleum lubricants worldwide
In the global petroleum lubricants and greases market, certain countries stand out as key players in terms of import value. According to the IndexBox market intelligence platform, the following are the top ten global petroleum lubricants and greases import markets (by import value) in 2023: See also: Crude oil and refined petroleum product import markets 1. China – $641.3 million China becomes the largest import market for petroleum lubricants and greases, with imports of $641.3 million in 2023. China's strong manufacturing and growing automotive industry are driving demand for lubricants and greases. 2. Germany – $378.5 million Germany ranks second in terms of import value, with imports of petroleum lubricants and greases valued at $378.5 million in 2023. The country’s highly industrialized economy and advanced manufacturing are key factors behind its large import volume. 3. Canada – $287.8 million Canada is another major import market for petroleum lubricants and greases, with imports of $287.8 million in 2023. The country’s diversified…
US freight demand remains stable, container prices remain stable
The global container shipping industry continues to witness an increase in demand for US freight, with 59% of supply chain professionals surveyed in August 2024 affirming this, while 30% of respondents said they did not observe a sustained increase in demand and 11% remained unsure about the trend. This also explains the continued upward pressure on US container prices and the above-average container leasing rates from China to the US. Figure 1 US freight demand survey conducted by Container xChange in August 2024 "Looking ahead, the key question remains: how will freight and container prices evolve over the next 3 to 6 months? On the one hand, several factors are likely to keep freight rates high or at least stable. For example, ongoing disruptions on the Red Sea continue to absorb capacity, with no clear resolution in sight. In addition, labor disputes on Canadian railroads and at U.S. East Coast terminals have led to delayed container turn times. This means…
New report reveals China’s steel subsidy strategy, focusing on
Wiley Rein LLP, a prominent Washington, D.C.-based law firm, has released a report titled “Scam: A Case Study in Chinese Steel Subsidies,” which critically examines China’s steel industry and its unfulfilled promises of economic reform. The report, authored by Alan H. Price, Co-Chair of the International Trade Practice, Robert E. DeFrancesco, Partner, and Adam M. Teslik, Counsel, highlights the disconnect between China’s policy rhetoric and industry practices. See also: China's container trade and leasing markets send mixed signals “Despite China’s bold claims of ‘reform’, our research shows that the Chinese steel industry remains tightly controlled by the government, with little evidence of a genuine shift towards market-driven practices,” Price said. The report focuses on the development of China's steel industry during the 13th and 14th Five-Year Plans (2016-2020; 2021-2025), pointing to continued government involvement and subsidies. Through case studies of three steel companies, the authors show how state-led mergers, relocations, and financial support have led to overcapacity and market distortions.…
The U.S. Department of Commerce’s Bureau of Industry and Security issued new guidance to combat Russian money transfer risks and
Recently, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released New guidance Provide further assistance to exporters and the U.S. Department of Commerce’s Bureau of Industry and Security to combat third-party transfers to Russia. Specifically, BIS’s recent guidance outlines the various mechanisms it uses—in addition to its usual public screening lists (IE, The Unverified List, Entity List, Military End-User List, and Denied Persons List) — notify companies and universities of parties that present a risk of transfer to Russia. According to BIS, it has obtained information supporting the notifications described below from a variety of sources, including information from the export community, government data, news reports, and other open-source resources. Specific mechanisms BIS uses to prevent exporters from unknowingly exporting items to relevant parties include: 1. "Supplier List" Letter Identify parties that present diversion risks and are not on the public screening lists but have been determined by BIS to be exporting or facilitating transactions to destinations…
Best import market for non-corrugated boxes
In today’s global economy, the paper packaging industry plays a vital role in ensuring that goods are transported safely and efficiently. Non-corrugated paperboard is one of the most common types of packaging used for a variety of products, from food to electronics. In this article, we’ll take a closer look at the world’s best non-corrugated paperboard import markets, based on data from the IndexBox market intelligence platform. Also read: Why corrugated-free boxes are the future of stylish and sustainable packaging 1. United States – $1 billion The United States is the world’s largest non-corrugated box import market, with imports valued at $1 billion in 2023. The strong retail and e-commerce industries in the United States drive the demand for non-corrugated boxes used to package and ship a variety of products. 2. France – $970.5 million France follows the United States with imports of $970.5 million in 2023. The country’s diversified manufacturing industry relies heavily on non-corrugated boxes to package goods…
Driving the Future: The Residential Solar Storage Market
this Residential Solar Energy Storage Market Significant growth will occur from 2023 to 2032. Increasing government incentives and favorable policies to encourage residential solar energy storage will lead to market expansion. The California Energy Commission released new data on May 25, 2023, stating that in 2021, more than 37% of the state's electricity came from energy sources that meet the renewable portfolio standard (RPS), such as solar and wind power, an increase of 2.7% from 2020. Growing awareness about environmental issues is driving homeowners to adopt sustainable energy solutions. Advances in battery technology have increased the efficiency and affordability of energy storage systems, making them more attractive. Fluctuating electricity prices are encouraging consumers to seek energy independence through stored solar energy. Moreover, as grid resilience becomes essential, energy storage can mitigate power outages. Thus, the residential solar energy storage market is providing homeowners with clean energy and autonomy in electricity consumption. The overall residential solar energy storage market is categorized…
Global merchandise trade rebounds in Q3 2024, but geopolitical
According to the latest Goods Trade Barometer report from the World Trade Organization (WTO), global merchandise trade continued to recover in the third quarter of 2024. This marks a rebound in global merchandise trade from its sluggish performance in 2023, with trade growth averaging 0.7% quarter-on-quarter over the past two quarters, or 2.7% annualized. This is very consistent with the WTO's earlier forecast of a 2.6% increase in trade this year. Also read: WTO Director-General warns of rising protectionism and its threat to global trade The WTO noted that trade growth starts to pick up in late 2023 and gains momentum in the first half of 2024, growing 1% in the first quarter and 1.4% year-on-year. The recovery comes after a period of weak demand due to high inflation and high interest rates in major markets. However, the report highlighted that trade growth was uneven across regions. Europe’s performance lagged behind expectations, while other regions performed stronger than expected. The…
Discover the world’s best rail cargo import market
In the railway wagon import market, there are several key players dominating the industry. According to the latest data from IndexBox market intelligence platform, the top ten countries in the world in terms of railway wagon import value in 2023 are Germany, the United States, Canada, Austria, Australia, Kazakhstan, Slovakia, Mexico, Poland and the Czech Republic. Also read: U.S. rail freight car exports to drop to $500 million in 2023 1. Germany – $787.6 million Germany tops the list with imports valued at $787.6 million in 2023. The country’s strong demand for rail wagons is supported by its extensive railway network and strong economy. 2. United States – $365.8 million The second largest importer was the United States, which accounted for $365.8 million. The country’s extensive railway system and demand for reliable freight transportation make it a key player in the global rail freight car market. 3. Canada – $328.4 million Canada follows the United States with imports of $328.4…
Freight forwarders predict tighter space and higher freight rates
Chinese e-commerce sellers Temu and Shein are disrupting the air cargo market. Cheap clothing and home goods bound for the United States and Europe are gobbling up space on planes, raising concerns about an eventual capacity crunch. Also Read: The Essential Guide to Freight Forwarding in the United States While China has been the world's low-cost manufacturing powerhouse for some time, Shein and Temu are approaching previously unimaginable levels. Shein currently sells to more than 150 countries, while Temu has a presence in 40 countries and is growing. Both companies have an on-demand business model, where orders are placed with suppliers and delivered within a few days. Real-time demand data enables timely replenishment as needed and limits the need for storage and inventory risk. Competition for air cargo space is intensifying in southern China, home to the country’s manufacturing heartland. In June, air cargo prices rose 40% compared to 2023, a rare occurrence in the summer. It is estimated that…
Explore the global market:
While inflation is falling, interest rates continue to weigh on households and businesses. That being said, there are still “bright spots” in sector performance, a glimmer of light at the end of the tunnel for tightening consumer spending. Opportunities are emerging across multiple sectors in Europe, the Americas and Asia Pacific. See also: Navigating the global market: The role of strategy and documentation for companies doing business around the world Information and communications technology leads global innovation The global information and communications technology industry (ICT) has rapidly become a leader in economic growth. With countries and companies now placing a high priority on connectivity and innovation, the industry is poised for continued growth and technological breakthroughs, and this momentum is not slowing down anytime soon. Semiconductor sales are expected to grow by double digits next year, and artificial intelligence (AI) has now touched every aspect of the industry and is largely driving its rapid expansion. In the United States, strong…
Stuart and Square team up to simplify e-commerce delivery
Last-mile logistics specialist Stuart has announced a new partnership with global technology company Square, designed to streamline delivery and operations for restaurant, retail and beauty businesses. By combining Stuart’s last-mile delivery platform with Square’s point-of-sale (POS) system, businesses can increase efficiency and open up new revenue streams. Square's platform is customizable, allowing businesses to adapt to a variety of customer preferences for ordering, payment, and delivery. The system helps manage cash flow, team members, delivery, and customer data to provide an optimized e-commerce experience for businesses and consumers. The partnership with Stuart enables merchants using Square Online to automatically connect with a network of local independent couriers. This integration enhances digital ordering and delivery, fostering direct customer relationships and increasing brand loyalty. Cornelia Raportaru, CEO of Stuart, said: “As e-commerce grows rapidly and competition intensifies, businesses must strengthen their connections with customers and streamline operations. By partnering with Square, we’re excited to offer more businesses a fully integrated system that…
U.S. corn struggles amid falling grain prices, competition
Low interest rates and government stimulus have driven U.S. grain markets to new highs in 2021. Record grain prices, also known as the “COVID commodity boom,” have been a boon for the U.S. agricultural sector. While 2024 could be a bumper year, especially for corn, not all is well in the U.S. Farm Belt. Also Read: EU Pickled Sweet Corn Market – Key Insights Corn and soybean prices have been falling since 2021 and 2022, while the cost of farm essentials remains high. Combined, farmers’ operating margins are being eroded at a disturbing rate. Now, many are delaying capital investments, using less fertilizer or fungicides, and understandably focusing on monthly returns rather than long-term productivity and profits. Another factor contributing to the price drop is Brazil’s strong corn crop. The South American giant is expected to produce 4.6 billion bushels of corn this year — down 12% from last year, but still the second-best crop in the country’s history. Last…
U.S. East Coast dockworkers union prepares for possible strike
Although the US East Coast is typically an area with excess equipment (40DC had a CAx value of 0.7 last year), container availability fell to 0.43, indicating that there are actually fewer containers than demand. The International Longshoremen’s Association (ILA), which represents 45,000 workers at major U.S. container ports from Texas to Maine, is scheduled to hold two days of meetings starting Wednesday to discuss wage demands and strategize for a possible strike on Oct. 1. Negotiations with the United States Maritime Union (USMX) have stalled as the two sides remain at odds over issues including pay, automation, health care and retirement benefits. See also: Rising risk of closures to impact U.S. East Coast and Gulf Coast ports Sources say the ILA is pushing for a 77 percent wage increase in the new contract. Industry analysts believe the final deal could exceed the 32 percent pay raise that West Coast dockworkers received in last year’s negotiations. ILA President Harold Daggett…
4flow expands SAP professional services into the US
4flow, a global leader in supply chain consulting, software and managed services, has announced the expansion of its SAP partnership into the United States and the appointment of industry veteran Akhilesh Mohan as vice president of supply chain consulting. Mohan, who previously worked at Accenture and has nearly 20 years of SAP implementation and consulting experience, will lead 4flow’s SAP business in Atlanta. The expansion is a strategic move that builds on 4flow's established SAP partnership in Germany and demonstrates the company's commitment to providing top-tier SAP consulting and implementation services to North American clients. “Our goal is to partner with businesses across North America to help them navigate the complexities of today’s supply chain landscape,” said Kai Althoff, CEO of 4flow. “This expansion is a key step in our growth strategy, strengthening our global presence and commitment to delivering innovative solutions that drive customer success.” Mohan and his dedicated SAP team will conduct business in North America, with a…
Solve logistics and
Labor shortages in the supply chain industry have had a significant impact on logistics and transportation. Despite predictions of an improved economy after the pandemic, many organizations are still struggling to find and retain a workforce. Also read: Embracing inclusion and diversity to address the trucking industry’s labor shortage Descartes Supply Chain and Logistics Workforce It found that 37% of organizations face severe labor shortages, 61% have experienced shipping disruptions due to understaffing, and 58% said staff shortages have affected customer service. While the rest of the economy is recovering rapidly, the supply chain workforce remains in deficit, a trend that suggests things won’t return to normal without major changes. Logistics and transportation are challenging industries. Faced with pressures such as long working hours, low wages and labor-intensive work, organizations must begin to rethink their workforce strategies to attract and retain a workforce. A closer look at the impact of labor shortages on supply chains When there aren’t enough workers…
How can traders improve their ability to focus?
For traders, maintaining sharp focus and clear thinking is essential to making fast and effective decisions. Whether you are trading stocks, forex, or cryptocurrencies, the ability to focus in volatile market conditions can be the difference between success and missed opportunities. Improving focus can be achieved through lifestyle adjustments, strategic habits, and (for some) exploring alternative methods. Below is a comprehensive guide on how traders can improve their focus and performance. Also read: LLC vs. Sole Proprietorship: A Key Decision for Traders 1. Prioritize sleep and rest Sufficient sleep is Cognitive functionIncluding attention, memory and decision-making ability. Lack of sleep can lead to decreased concentration and increased stress, which can negatively affect trading performance. Tips for better sleep: Create a daily habit: Go to bed and wake up at the same time every day, even on weekends. Limit screen time: Reduce screen time at least an hour before bedtime, as blue light can affect sleep quality. Create a relaxing environment:…
How Semiconductor Packaging Shapes Future Technologies
this Semiconductor Packaging Market Semiconductor packaging is experiencing a period of significant growth, driven by rapid technological advancements and growing demand for smartphones, consumer electronics, and automotive technology. Semiconductor packaging provides mechanical and environmental protection for integrated circuit (IC) chips and ensures electrical connections, playing a vital role in the performance and reliability of electronic devices. See also: Semiconductor memory market to reach $340 billion by 2032 Market Overview one semiconductor A material with unique electrical properties that makes it ideal for controlling the flow of electricity in a variety of electronic devices. Semiconductors are the basic components of transistors, diodes, and integrated circuits (ICs), the building blocks of modern electronics. As the demand for smaller, faster, and more powerful devices continues to grow, the importance of effective semiconductor packaging has become more important than ever. Semiconductor packaging involves the use of materials and techniques to connect the IC chip to a printed circuit board (PCB) or package substrate. These…
Why non-corrugated boxes are fashionable and
In today's competitive packaging landscape, non-corrugated boxes have become a popular choice for businesses seeking lightweight, cost-effective and customizable packaging solutions. Unlike corrugated boxes, non-corrugated boxes do not have fluting or rib layers that add strength and durability. Also read: Paper and paperboard packaging is a sustainable, versatile solution shaping global markets Made from materials such as paperboard, cardboard, and plastic, these boxes are ideal for a variety of applications where presentation and cost-effectiveness take precedence over heavy-duty protection. worldwide Non-corrugated box market The gift box market size reached USD 67.22 billion in 2024 and is expected to reach around USD 137.79 billion by 2034, growing at a CAGR of 7.5% during the forecast period from 2024 to 2034. Due to the popularity trend of exquisite gift boxes, the demand for non-corrugated boxes has also increased. What is a non-corrugated box? Non-corrugated boxes A packaging container made from a single layer of material, such as paperboard, cardboard, or plastic, without…
Malaysia’s diplomatic, commercial and national enthusiasm is evident
Malaysia celebrates its 67th anniversaryday On August 30, Malaysia celebrated its independence from British colonial rule at the historic Bowling Green Park in New York City. A diverse crowd of Malaysians, businesspeople, the international consular corps and New York City officials attended the flag-raising ceremony amid a national celebration. But the event also provided a chance for some to privately discuss opportunities for American businesses in Malaysia. Also read: New York State Senator delivers Malaysia's 66th National Day proclamation The presence of Christina Chelliah, first runner-up of the 2002 Miss Universe Malaysia pageant, added glamour to the event, with some attendees flocking to take pictures with her. Chelliah, wearing a tiara, told Global Trade Magazine She is a lawyer by profession and has worked in New York. “I love showcasing my country’s rich culture while emphasizing our country’s potential as a modern and prosperous economy that can be a strong partner for the United States,” she said. Appointed as Malaysia's…
Deep-sea mining faces many regulatory hurdles
The global oceans cover 71% of the Earth's surface. Extracting various resources such as cobalt, copper, nickel, silver, gold or zinc from the seabed has huge potential for commercial mining. However, as with terrestrial mining, environmental issues are of paramount importance and it is becoming increasingly urgent to establish the rules of the game. Also read: Technological innovation drives sustainable mining operations Regulatory stability in any industry is essential for efficient and predictable growth. When companies clearly define the boundaries of what is permitted, the likelihood of litigation is low and business can proceed in an orderly manner. Deep sea mining is at a critical juncture, with the exploration phase now complete and the need to determine how mining can or should proceed in the future. Currently, deep-sea mining companies engage in so-called “shallow water” mining, extracting minerals such as diamonds or tin. The International Seabed Authority (ISA) is a UN regulatory body responsible for the development and protection of…
Saudi Red Sea Authority launches “More Than an Ocean” program to promote
The Saudi Red Sea Authority (SRSA) has launched a new campaign, “More Than a Sea,” which is organized around four pillars: regulation, sustainability, investment attraction and tourism promotion. The initiative aims to boost Saudi Arabia’s coastal tourism by highlighting the multifaceted role of the SRSA. Also read: Maersk launches SAR 1.3 billion logistics hub at Jeddah Islamic Port: a major milestone in Saudi Arabia’s global supply chain ambitions The event focused on the regulatory responsibilities of the Saudi Coastal Authority, including the development of policies, strategies and initiatives to oversee navigation and marine tourism activities. The Saudi Coastal Authority, in collaboration with relevant entities, has issued seven regulations governing tourism along the coast of Saudi Arabia, ensuring a well-structured and safe environment for visitors. The campaign also highlights the potential of the Red Sea as a lucrative investment destination, with a population of approximately 7 million and 1,800 km of coastline. The region’s diverse landscapes, rich cultural heritage and abundant…
IoT in Warehouse Management Market: Revolutionary
The Internet of Things (IoT) in warehouse management refers to the integration of physical warehouse operations with internet-connected devices to enable automation and real-time data collection and analysis. The technology improves the efficiency of warehouse operations by seamlessly synchronizing equipment, inventory, and labor management. IoT devices in warehouses typically include sensors, RFID tags, smart conveyors, autonomous robots, and wearables, which together help streamline processes such as inventory tracking, predictive maintenance, and optimized resource allocation. According to Market.us, the global Internet of Things in Warehouse Management Market The estimated size is approximately $57.2 billion By 2033, $14.8 billion It will peak in 2023, with a CAGR of 14.5% during the forecast period 2024-2033. The IoT in warehouse management market includes the sales and deployment of IoT technologies designed specifically to improve warehouse operations. This market segment is driven by the need for better inventory management, increased automation, and greater operational efficiency in logistics and supply chain environments. It is applicable to…
Largest vaccine import markets: key statistics and
Vaccines are an important tool for preventing the spread of infectious diseases and protecting public health. As global demand for vaccines continues to rise, countries around the world are increasingly relying on imports to meet their vaccination needs. In this article, we will explore the main import markets for vaccines and provide key statistics on their import values. Also read: The rise of heat-resistant vaccines: A story of future innovation and global impact 1. Belgium Belgium is the world's largest vaccine importer, with vaccine imports worth $12.4 billion in 2023. The country's strong pharmaceutical industry and high vaccination rates have contributed to its large import volumes. Belgium's strategic location in Europe also makes it a major distribution center for vaccines imported from other countries. 2. United States The United States is the second largest vaccine importer, with imports of $9.2 billion in 2023. The country's extensive healthcare infrastructure and large population drive vaccine demand. The United States also imports a…
Rising freight rates drive global container shipping profits soar
The global container shipping industry posted a sharp rise in profits in the second quarter, with revenues exceeding $10 billion, helped by record cargo volumes and rising freight rates. The growth came after disruptions to Red Sea shipping, a recent analysis showed. Also read: CH Robinson: How shippers can prepare for potential ILA strikes amid growing disruption in North American shipping landscape Net revenues at major container shipping companies, including Denmark's AP Moller-Maersk A/S and China's COSCO Shipping Holdings Co., nearly doubled compared with the first quarter of this year. These profits even exceeded the $8.88 billion in the same period of 2023, as highlighted in a report published on Saturday by industry expert John McCown. McCown expects profits to continue to rise this quarter given the strong performance of international trade. The container shipping industry, which transports 80% of the world's goods, experienced a boom during the pandemic due to strong consumer demand and supply chain disruptions. However, the…
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