Freight forwarders in Bangladesh have raised forwarding charges by 57% for each import bill, blaming fuel oil prices in the domestic market. Importers are the primary payee of the additional forwarding costs, which will raise the price of imported goods at a consumer level, while the export industry...
Canada's economy lost 40,000 jobs in August, enough to push up the jobless rate by half a percentage point, to 5.4 percent, Statistics Canada reported Friday. Economists had been expecting the economy to add between 10,000 and 15,000 jobs during the month, which would have been...
Asia’s largest container shipping hub may face another major storm as Typhoon Muifa bears down on Shanghai and nearby Ningbo. The US Joint Typhoon Warning Center projects the typhoon’s path will hit the ports on China’s east coast Wednesday. The storm follows close on the heels...
In a major development, India has offered Bangladesh toll-free transit facilities for exporting and importing goods to and from third countries using its seaports. India will also not take transit fees from Bangladesh to export goods to Nepal and Bhutan via its territory. Indian prime minister Narendra...
On June 21 this year, US Customs and Border Protection (CBP) began enforcing the Uyghur Forced Labour Prevention Act (UFLPA). The import of goods made with forced labour has been illegal for some time in the US, and this new Act extends the reach of CBP...
Shipping containers stacked at the Jawaharlal Nehru Port in Navi Mumbai, Maharashtra, India, on Sunday, Nov. 14, 2021. Congestion at many of the world’s major ports offered a snapshot of supply chains trying to avoid unprecedented bottlenecks, as cargo handlers searched for the quickest way...
Typhoon Hinnamor has forced the ports of Shanghai, Ningbo and Busan to close, further disrupting shipping schedules from Asia. Shanghai’s container terminals and equipment yards were closed at 4pm yesterday “until further notice”, according to Norman Global Logistics (NGL). Ningbo’s terminals closed on Friday, the forwarder added. Thomas...
The Chinese metropolis of Chengdu imposed a sweeping city-wide lockdown on Thursday evening, confining 21 million residents to their homes as the country doubles down on its zero-Covid policy ahead of a key Communist Party meeting. The move offered a stark reminder of the lengths the...
With typhoon “Ma-on” approaching Hong Kong and Guangdong Province, Hong Kong and Yantian Terminal operations have been suspended and it will cause vessels and flight delays to/from Hong Kong/Shenzhen ports and Airports. Shenzhen (Yantian) and Hong Kong Terminals gate service is suspended. We will keep you abreast...
A coronavirus lockdown in the Chinese manufacturing hub of Yiwu – home to the world’s largest small commodities market – is clouding the outlook for the country’s biggest export season ahead of Christmas. The city in eastern Zhejiang province was put under a three-day lockdown on...
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