China has long been considered “the world’s factory,” offering Western manufacturers inexpensive, skilled labor and robust supply chain infrastructure. Pandemic-fueled production and shipping delays — combined with rising labor costs and geopolitical tensions across the globe — have undercut those benefits in recent years. As a result, more and more companies are moving their manufacturing…
Labour Minister Seamus O’Regan has given a federal mediator 24 hours to send him recommended terms to end the British Columbia port strike that has snarled cargo in about 30 ports and […]
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Decarbonizing shipping is like herding cats, and that herd, otherwise known as the International Maritime Organization (IMO), unveiled major new global emission-reduction targets Friday. From a future freight rate perspective, it was a win for tanker and dry bulker owners. The uncertainty over future regulations that has stymied newbuilding orders was not only kept in…
Freightos, a digital marketplace for international air and ocean shipping, announced Tuesday that it will reduce staff levels by 13% and lowered its full-year outlook again in an effort to stem mounting losses as revenues fall short of expectations because of a prolonged downturn in freight markets. The news is the latest example of the…