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Millions being spent to “skip the line” at Panama Canal
Last updated on September 7, 2023 by Ben Thompson
Low rainfall and shifts in oil and gas flows have led to severe congestion in the Panama Canal, reducing daily vessel limits and causing a backlog. This situation has tripled waiting times and significantly increased shipping costs, with fees for queue skipping surging to as high as $2.4 million. The high costs make alternative routes…
The Shifting Tides of Globalization: What really impacted trade over the past decade.
Last updated on August 31, 2023 by Ben ThompsonFrom 2015 to 2023, global trade and globalization faced challenges from protectionism, the pandemic, and geopolitical tensions. Despite initial resilience, with trade rebounding post-2008 and 2020 crises, recent pressures like the U.S.-China trade war, Brexit, and supply chain debates have sparked a reassessment of dependencies and international cooperation. The U.S.'s tech export bans to China…
European Union’s Russian LNG Dilemma
Last updated on August 31, 2023 by Ben ThompsonDespite aims to cut reliance on Russian fossil fuels, the EU's imports of Russian LNG surged by 40% from January to July 2023, setting a record. This increase, driven by significant purchases by Belgium and Spain, contrasts with a global average rise of 6%. The EU's growing dependency on Russian LNG, which constitutes 16% of…
Ocean shipping rates hit multi-year low
Last updated on August 24, 2023 by Ben ThompsonTrans-Atlantic shipping rates have plummeted to their lowest in over a decade, with a 79% drop from a 2022 peak to $1,577 per FEU, significantly below pre-pandemic levels, highlighting major shifts in shipping costs and market dynamics.
BRICS Alliance & US Dollar Pressures
Last updated on August 9, 2023 by Ben ThompsonThe BRICS Alliance aims to use local currencies for trade, reducing reliance on the U.S. dollar to boost economies and efficiency. This move could reshape global financial structures and lessen the dollar's dominance in foreign reserves.
USA Driver Pay Reaches $170k
Last updated on August 9, 2023 by Ben ThompsonUPS driver pay is set to reach $170k annually under a new labor agreement, reflecting significant wage hikes amid rising inflation. This move aims to improve worker conditions but is expected to impact UPS's profits due to increased labor costs.
Millions being spent to “skip the line” at Panama Canal
Last updated on September 7, 2023 by Ben Thompson
Low rainfall and shifts in oil and gas flows have led to severe congestion in the Panama Canal, reducing daily vessel limits and causing a backlog. This situation has tripled waiting times and significantly increased shipping costs, with fees for queue skipping surging to as high as $2.4 million. The high costs make alternative routes more attractive, and with low water levels expected to persist, shipping delays and elevated costs may continue. Read More »
The Shifting Tides of Globalization: What really impacted trade over the past decade.
Last updated on August 31, 2023 by Ben ThompsonFrom 2015 to 2023, global trade and globalization faced challenges from protectionism, the pandemic, and geopolitical tensions. Despite initial resilience, with trade rebounding post-2008 and 2020 crises, recent pressures like the U.S.-China trade war, Brexit, and supply chain debates have sparked a reassessment of dependencies and international cooperation. The U.S.'s tech export bans to China highlight a shift towards competition. The future of globalization is uncertain, with potential paths towards either limited interventions or a more divided world. Read More »
European Union’s Russian LNG Dilemma
Last updated on August 31, 2023 by Ben ThompsonDespite aims to cut reliance on Russian fossil fuels, the EU's imports of Russian LNG surged by 40% from January to July 2023, setting a record. This increase, driven by significant purchases by Belgium and Spain, contrasts with a global average rise of 6%. The EU's growing dependency on Russian LNG, which constitutes 16% of its total LNG imports, raises concerns over energy security and financial support to Russia amidst calls for reduced consumption and potential sanctions to avoid energy crises. Read More »
Ocean shipping rates hit multi-year low
Last updated on August 24, 2023 by Ben ThompsonTrans-Atlantic shipping rates have plummeted to their lowest in over a decade, with a 79% drop from a 2022 peak to $1,577 per FEU, significantly below pre-pandemic levels, highlighting major shifts in shipping costs and market dynamics. Read More »
BRICS Alliance & US Dollar Pressures
Last updated on August 9, 2023 by Ben ThompsonThe BRICS Alliance aims to use local currencies for trade, reducing reliance on the U.S. dollar to boost economies and efficiency. This move could reshape global financial structures and lessen the dollar's dominance in foreign reserves. Read More »
USA Driver Pay Reaches $170k
Last updated on August 9, 2023 by Ben ThompsonUPS driver pay is set to reach $170k annually under a new labor agreement, reflecting significant wage hikes amid rising inflation. This move aims to improve worker conditions but is expected to impact UPS's profits due to increased labor costs. Read More »
