GLOBAL ECONOMY

Air cargo market: From ‘doom mongering’ to stability

The air cargo market is experiencing an unexpected bounce during the traditional peak shipping season culminating the year, fueled by e-commerce exports from China, but revenues for air logistics companies could be lower even if strengthening demand carries over into 2024, according to industry experts.

Still, the vibe in industry circles is that the worst of the freight recession is in the rearview mirror, with next year bringing welcome stability even if it takes until late summer for a...

https://www.freightwaves.com/news/air-cargo-market-from-doom-mongering-to-stability

Port Houston’s Export Triumph Amidst Challenges

Credit: pymnts/Unsplash

Port Houston has once again experienced a significant increase in loaded exports through its Bayport and Barbours Cut Container Terminals,says an article published on port houston website.

September Export Surge

Port Houston experienced a record-breaking increase in loaded exports during September, marking a significant milestone in its history. Handling 124,739 loaded export TEUs, this surge, a 21% increase compared to the same period in 2022, is primarily attributed to...

https://mfame.guru/port-houstons-export-triumph-amidst-challenges/

Uptick in airfreight rates creates mirage of market recovery

Air logistics stakeholders may want to pump the brakes on celebrations of shipping volumes and rates finally climbing from the depths of a prolonged downturn. Newfound optimism is tempered by the fact that growth has more to do with normal seasonal patterns than a fundamental shift in demand. The market is essentially flat versus an anemic final stretch in 2022, according to the latest data.

And with no signs of a demand push as consumer finances get squeezed, analysts remain bearish about...

https://www.freightwaves.com/news/uptick-in-airfreight-rates-creates-mirage-of-market-recovery

Price war keeps air cargo rates below natural level

Amid a burgeoning price war, pessimism is growing in air cargo circles that a market in prolonged recession could drift further downward, after a short pause, reducing the chance of a modest recovery during the traditional preholiday shipping rush.

Logistics professionals had hoped for an upturn by now that would steadily build into the second half, but that hasn’t happened. Freight forwarders and, increasingly, cargo airlines have responded by chasing volumes without regard to cost, which...

https://www.freightwaves.com/news/price-war-keeps-air-cargo-rates-below-natural-level

Global Economy 2023

Credits: Eric Prouzet/Unsplash
Countries by Share of the Global Economy

As 2022 draws to a close, we may look back on numerous significant historical events that occurred during the year, such as the Earth reaching 8 billion people and the global economy surpassing $100 trillion.

Using statistics from the IMF, we depict the world’s GDP in this graph, highlighting the largest economies and the percentage of global economic activity they account for.

The GDP Heavyweights

If the world economy were a...

https://mfame.guru/global-economy-2023/

Global Economy Heads for One of Its Worst Years Since 1993

Credits: Jason Leung/Unsplash
  • Bloomberg analysis anticipates recessions in Europe and the US
  • China seen rebounding, monetary policies on divergent paths

The world economy is facing one of its worst years in three decades as the energy shocks unleashed by the war in Ukraine continue to reverberate, according to Bloomberg Economics.

World economy is facing one of its worst years

In a new analysis, economist Scott Johnson forecasts growth of just 2.4% in 2023. That’s down from an estimated 3.2% this...

https://mfame.guru/global-economy-heads-for-one-of-its-worst-years-since-1993/

‘Oil’ Presumed To Be The Weakest Link Of Fossil Fuel!

Credits: Chris LeBoutillier/ Unsplash
  • Consequently, oil producers should prepare for a faster-than-expected stranding of their reserves.
  • Coal producers and users have a symbiotic relationship. 
  • Investors who build coal-burning power plants are unlikely to shut down voluntarily. 

The New York Times recently carried a front-page story asserting that Saudi Arabia planned to “keep oil at the center of the global economy” for decades. 

Supply chain linkup

Other Mideast Gulf countries no doubt share...

https://mfame.guru/oil-presumed-to-be-the-weakest-link-of-fossil-fuel/

China Cannot Develop In Isolation, Call For Win-win Shipping Ecosystem

A recent China Daily news states that enhanced shipping ties to chart fresh growth course for global supply chain.

Promoting international shipping cooperation

Promoting international shipping cooperation is of great importance in ensuring the smooth flow of global logistics supply chains and boosting the global economy amid an increasingly complex market environment, officials and industry players said at the second World Maritime Merchants Forum in Hong Kong on Tuesday.

Delivering his speech at...

https://mfame.guru/china-cannot-develop-in-isolation-call-for-win-win-shipping-ecosystem/

$4 Trillion Loss Ringing In The World’s Economic Output

  • Because the figures aren’t adjusted for inflation, the data suggest demand for merchandise slowed in the third quarter.
  • Meanwhile, China is being hit by a rebound in Covid-19 cases following the week-long National Day holiday, just as the country’s top leaders gather in Beijing for a meeting with President Xi Jinping.
  • That may offer insights into whether officials see a risk of renewed turmoil that already plagued pension funds following Britain’s mini-budget.

The warning of a potential $4...

https://mfame.guru/4-trillion-loss-ringing-in-the-worlds-economic-output/

Why World Economy Is Slowing Down?

  • The world economy will take a bigger hit than previously forecast next year due to the effects of Russia’s war in Ukraine, the OECD said Monday.
  • In a bleak report titled “paying the price of war”, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly.

A recent news article published in the Yahoo News states that World economy to slow, ‘paying the price of war’, according to OECD.

Covid outbreaks and global...

https://mfame.guru/why-world-economy-is-slowing-down/

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