[Freightos Weekly Update] Rates still in a lull, as new labor issues intensify.
Key insights: 1 China - US West Coast prices dropped 4% this week as falling ocean rates, climbing inventories and inflation suggest a slow-down in…
United Air cuts 2023 growth plans as flight disruptions persist
United Airlines Holdings Inc. is limiting flying for the rest of this year and curtailing growth plans in 2023 to try to get a handle…
California port closes gates for third day amid protests
California’s third-busiest port shut down some of its gates and marine terminals for a third day Wednesday as truckers protesting a gig-work law that could…
Port of Oakland statement regarding truckers protests over AB5
Trucker protests that started Monday over the implementation of AB5 have effectively shut down operations at shipping terminals at the Port of Oakland. The shutdown…
China’s top chipmaker achieves breakthrough despite US curbs
Semiconductor Manufacturing International Corp. has likely advanced its production technology by two generations, defying US sanctions intended to halt the rise of China’s largest chipmaker.
Union Pacific’s margins slip on higher costs, network snags
Union Pacific Corp.’s quarterly operating profit margins fell from a year earlier amid higher costs and network congestion that caused carloads to drop.
American Air, rivals limit flying as disruptions hinder recovery
American Airlines Group Inc. joined its main rivals in limiting flying this quarter and for 2022 as the industry grapples with a rash of costly…
French shipping billionaire slams lawmakers’ windfall tax plan
The billionaire head of shipping giant CMA CGM SA pushed back against a plan by some French lawmakers for a windfall tax on excessive corporate…
Lufthansa pilots’ union to hold a vote on possible strike
Deutsche Lufthansa AG’s pilots’ union is holding a vote on whether to strike, a move that would further disrupt the airline’s crucial summer travel season.
Korea early exports hold up on chip sales despite China lockdown
South Korea’s early trade data showed exports remained resilient in the face of risks to global economic growth and China’s Covid lockdowns that are disrupting…
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