Logistics News - Page 6

German shipping investment that once helped shape the world’s maritime operations is in retreat, as years of steep losses lead many of the country’s biggest banks to abandon ship financing altogether.

Supply chains have fractured under the weight of recent import demand, forcing shippers like Peloton (NASDAQ: PTON) to find pricier alternatives in order to not miss their window of opportunity. Judging from FreightWaves’ new Inbound Ocean TEU Volume Index (IOTI) and the recent Transportation Air Cargo Index (AIRUSD), that is not the only company choosing to fly versus ship goods over the Pacific. 

The European Union rejected on Wednesday most of Britain’s demands for easier trade with Northern Ireland but said it was examining more flexibility on steel.

Exports from Britain to the European Union fell by 68% in January as trade was disrupted after the end of a transition period following Britain’s departure from the European Union, according to a trade body representing hauliers.

Second-tier ports have been slammed for a lack of digitalisation, putting global logistics chains at risk. According to Singapore-based port software provider Innovez-One, some 80% of the world’s 4,900 ports are “not yet using digital technology for even the most basic processes”.

Dubai has launched a logistics alliance that aims to speed up distribution of Covid-19 vaccines around the world through the emirate. The Dubai Vaccines Logistics Alliance said it would combine Emirates SkyCargo’s air network with DP World’s worldwide network of ports and logistics operations, along with the infrastructure of Dubai Airports and International Humanitarian City (IHC) to distribute vaccines worldwide.

The new year is off to a hot start for the air cargo market with no sign of cooling off. International transport activity typically softens following the holiday peak season, but demand and rates remain elevated because of unusual shipping patterns and a severe shortage of airlift triggered by the coronavirus pandemic.

Martin Humphreys, the lead transport economist at the World Bank, writes exclusively for Splash today. The bank has a new technical report out later today on how best to accelerate maritime digitalisation with Martin sharing some of his thoughts on the matter.

Despite no signs of massive queues of trucks in the first two weeks since the UK left the EU’s single market and customs union, various sources indicate that post-Brexit red tape is hitting UK-EU trade, with indications of significant disruption to the flow of goods crossing the Channel, especially those involving products of plant or animal origins.

Moderna started shipping the first supplies of its Covid-19 vaccine in Europe on Monday.The company, which secured EU approval for its vaccine last week, said it was starting deliveries to EU and European Economic Area member states. However, it is not clear whether any of the initial supplies are destined for Ireland.