International Trade News
The World Trade Organization’s trade measures approved this week in a historic agreement could cut the cost of trade by up to 15 percent, boost the global flow of goods, accelerate economic growth and add up to 20 million new jobs, most of them in developing nations.
U.S.-Mexico cross-border trucking and rail volume is poised to increase after Mexican factory export production in October hit a five-year high.
West Africa trade still points to a region with growth potential, despite a nearly 30 percent drop in exports caused by the Ebola outbreak, Drewry and carrier executives say.
Container throughput at Shanghai edged closer to the 30 million TEU mark in October, with the 3.02 million 20-foot containers handled in the month putting the port on course to blow last year’s 33.6 million box record out of the water by the close of business in December.
For a single product, the iPhone plays a leading role in Taiwan’s export orders, helping push the key economic indicator to a record $44.9 billion in October on demand for the smartphone and other consumer electronics.
Japan’s trade surplus with the United States expanded for the second consecutive month in October on a year-over-year basis despite a double-digit rise in imports, as exports also posted robust growth, according to preliminary trade figures released by the Japanese Finance Ministry.
Hong Kong’s container volumes continued to fall, down 3.5 percent in October and the fourth straight month the transshipment hub has recorded declining throughput.
Singapore handled 2.97 million 20-foot containers in October, continuing a healthy month-over-month increase that leaves the world’s second busiest container port on track to beat last year’s throughput.
Tougher Chinese regulations on imported wastepaper shipments helped drive down U.S. containerized exports in September.
Ryder System and Mansfield Clean Energy Partners are teaming up to offer natural gas vehicles and fuel to bulk carriers hauling gasoline and diesel.