International Trade News
Phil Peters, president of Cuba Research Center, a nonprofit organization in Alexandria, Virginia, says the U.S. and Cuba have been making progress in normalizing their diplomatic and trade ties, and overcoming political opposition within the United States to the Obama administration’s clear desire to end the U.S. trade embargo of Cuba.
The low cost sourcing model that has driven the apparel manufacturing industry from country to country in search of cheaper production alternatives is not sustainable and has to change, top shippers said at a sourcing conference.
Malaysia plans to invest millions of dollars into the transportation infrastructure supporting Port Klang in an effort to boost exports out of the country’s main maritime gateway.
Japan’s exports to the U.S. rose for the sixth consecutive month in February, surging 14.3 percent to 1.215 trillion yen ($10.0 billion) on the back of brisk auto shipments, according to preliminary trade figures released by the Japanese Finance Ministry this week.
Facing higher transportation costs and a shift in consumer demand, shippers are changing how and what kind of apparel they import into the U.S.: opting for less expensive cargo that can be packed and stacked over luxury goods shipped on the hanger.
India’s merchandise exports in February plunged 15 percent from a year earlier to $21.5 billion, following an 11.2 percent decrease in January, marking the lowest value in three years, according to provisional figures released by the Ministry of Commerce and Industry.
Freight rates fell on all major east-west trades this week with Asia-Europe recording $708 per TEU, its lowest level in almost 18 months, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
A look at full-year 2014 U.S. containerized ocean trade with Asian countries.
A look at full-year 2014 U.S. West Coast containerized ocean trade via Asian ports.
It’s a known unknown: We will never know what 2014 could have been, volume-wise, for U.S. West Coast ports, the gateway to the trans-Pacific container trade.