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Russia & China Ditch Western Currencies
Last updated on November 23, 2023 by Ben ThompsonRussia and China are shifting trade away from Western currencies, with 95% of transactions now in rubles and yuan due to Western sanctions. Bilateral trade projected to surpass $200 billion this year, creating opportunities for Chinese firms in various sectors.
NYK Line Cargo Ship Hijacked
Last updated on November 23, 2023 by Ben ThompsonThe Houthi rebels in Yemen are designated as a terrorist organization by some countries, including the United States and Saudi Arabia, due to their actions involving violence, including attacks on civilian targets and shipping vessels.
Boom & Bust Times For Shipping Lines
Last updated on November 16, 2023 by Ben ThompsonThe container shipping industry experienced unprecedented profits during the pandemic but now faces looming losses due to oversupply and decreased demand. Companies like Maersk predict significant downturns in financial health. To address these challenges, cost-cutting measures are being implemented, and investments in cleaner technologies are needed. Diversification strategies are also being pursued to mitigate market…
Cyberattack Paralyzes Major Australian Ports
Last updated on November 16, 2023 by Ben ThompsonA cyberattack on DP World has paralyzed Australian ports, causing a backlog of 30,000 containers. Operations partially resumed but ongoing investigations and security efforts are expected to disrupt services further. The incident underscores the economic impact of cyber threats on critical infrastructure.
Sky Titan Emerges: Electric Airship Unveiled
Last updated on November 9, 2023 by Ben ThompsonSilicon Valley witnesses the unveiling of Pathfinder 1, an electric-powered airship funded by Google's Sergey Brin. With advanced drone features, it aims for sustainable aviation and humanitarian missions. LTA Research eyes a fleet for disaster relief and carbon-neutral travel, emphasizing safety and collaboration with the FAA.
TikTok Follows Amazon By Introducing Logistics
Last updated on November 9, 2023 by Ben ThompsonTikTok ventures into e-commerce logistics, mirroring Amazon's integrated model but outsourcing to specialized providers like ShipBob. With 150 million U.S. users, TikTok aims to keep transactions on its platform, leveraging influencers to drive sales. Regulatory hurdles and building consumer trust pose challenges, but TikTok's move signals a strategic push into e-commerce.
Flexport Acquires Convoy’s Tech Amidst Broader Expansion Goals
Last updated on November 2, 2023 by Ben ThompsonFlexport acquires Convoy's technology stack to bolster its position in global logistics. CEO Ryan Petersen emphasizes the move's significance, aiming to create a one-stop-shop for shipping worldwide. Integration of Convoy's trucking network, comprising 400,000 drivers and 80,000 carriers, promises expanded capabilities for Flexport.
Nvidia Halted From Shipping AI Chips To China
Last updated on November 2, 2023 by Ben ThompsonThe US halts Nvidia's AI chip shipments to China, aligning with President Biden's strategy to limit China's access to advanced technology. Nvidia remains optimistic about global demand but faces potential setbacks. The move escalates the US-China tech standoff, with implications for the broader semiconductor industry.
Russia-India Trade Booms
Last updated on October 26, 2023 by Ben ThompsonTrade between Russia and India has surged, reaching a record US$43.8 billion in the first eight months of the year and projected to hit US$65.7 billion by year-end. Russian exports to India soared to US$41.2 billion, while imports from India also saw a 50% increase. This growth is partly attributed to Russia's pivot towards Asian…
NEOM & DSV’s $10 Billion Game-Changer
Last updated on October 26, 2023 by Ben ThompsonNEOM, a futuristic construction company in Saudi Arabia, partners with logistics leader DSV for a $10 billion venture, aiming to revolutionize ground, sea, and air logistics. This collaboration, aligned with Saudi Vision 2030, promises economic growth and innovation.
Russia & China Ditch Western Currencies
Last updated on November 23, 2023 by Ben ThompsonRussia and China are shifting trade away from Western currencies, with 95% of transactions now in rubles and yuan due to Western sanctions. Bilateral trade projected to surpass $200 billion this year, creating opportunities for Chinese firms in various sectors. Read More »
NYK Line Cargo Ship Hijacked
Last updated on November 23, 2023 by Ben ThompsonThe Houthi rebels in Yemen are designated as a terrorist organization by some countries, including the United States and Saudi Arabia, due to their actions involving violence, including attacks on civilian targets and shipping vessels. Read More »
Boom & Bust Times For Shipping Lines
Last updated on November 16, 2023 by Ben ThompsonThe container shipping industry experienced unprecedented profits during the pandemic but now faces looming losses due to oversupply and decreased demand. Companies like Maersk predict significant downturns in financial health. To address these challenges, cost-cutting measures are being implemented, and investments in cleaner technologies are needed. Diversification strategies are also being pursued to mitigate market volatility. Read More »
Cyberattack Paralyzes Major Australian Ports
Last updated on November 16, 2023 by Ben ThompsonA cyberattack on DP World has paralyzed Australian ports, causing a backlog of 30,000 containers. Operations partially resumed but ongoing investigations and security efforts are expected to disrupt services further. The incident underscores the economic impact of cyber threats on critical infrastructure. Read More »
Sky Titan Emerges: Electric Airship Unveiled
Last updated on November 9, 2023 by Ben ThompsonSilicon Valley witnesses the unveiling of Pathfinder 1, an electric-powered airship funded by Google's Sergey Brin. With advanced drone features, it aims for sustainable aviation and humanitarian missions. LTA Research eyes a fleet for disaster relief and carbon-neutral travel, emphasizing safety and collaboration with the FAA. Read More »
TikTok Follows Amazon By Introducing Logistics
Last updated on November 9, 2023 by Ben ThompsonTikTok ventures into e-commerce logistics, mirroring Amazon's integrated model but outsourcing to specialized providers like ShipBob. With 150 million U.S. users, TikTok aims to keep transactions on its platform, leveraging influencers to drive sales. Regulatory hurdles and building consumer trust pose challenges, but TikTok's move signals a strategic push into e-commerce. Read More »
Flexport Acquires Convoy’s Tech Amidst Broader Expansion Goals
Last updated on November 2, 2023 by Ben ThompsonFlexport acquires Convoy's technology stack to bolster its position in global logistics. CEO Ryan Petersen emphasizes the move's significance, aiming to create a one-stop-shop for shipping worldwide. Integration of Convoy's trucking network, comprising 400,000 drivers and 80,000 carriers, promises expanded capabilities for Flexport. Read More »
Nvidia Halted From Shipping AI Chips To China
Last updated on November 2, 2023 by Ben ThompsonThe US halts Nvidia's AI chip shipments to China, aligning with President Biden's strategy to limit China's access to advanced technology. Nvidia remains optimistic about global demand but faces potential setbacks. The move escalates the US-China tech standoff, with implications for the broader semiconductor industry. Read More »
Russia-India Trade Booms
Last updated on October 26, 2023 by Ben ThompsonTrade between Russia and India has surged, reaching a record US$43.8 billion in the first eight months of the year and projected to hit US$65.7 billion by year-end. Russian exports to India soared to US$41.2 billion, while imports from India also saw a 50% increase. This growth is partly attributed to Russia's pivot towards Asian markets amidst Western sanctions. India's Russian oil imports spiked by 80% in September, and diamond purchases rose by 26%. The flourishing trade relationship is poised for further expansion, particularly in energy, agriculture, and IT sectors. Read More »
NEOM & DSV’s $10 Billion Game-Changer
Last updated on October 26, 2023 by Ben ThompsonNEOM, a futuristic construction company in Saudi Arabia, partners with logistics leader DSV for a $10 billion venture, aiming to revolutionize ground, sea, and air logistics. This collaboration, aligned with Saudi Vision 2030, promises economic growth and innovation. Read More »