With shipping prices falling at record rates, the number of container ships waiting offshore at the Port of Los Angeles–Long Beach has fallen to fewer than 10 from more than 100 in January. The risk of a global recession is rising, according to analysis from experts. According to Nomura Research Institute, in the first week…
Freight Rates on US–China Routes Plunge Amid Rising Risk of Global Recession
September 26, 2022
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Trucking Industry Downturn Foreshadows Possible Economic Troubles
Demand for trucking services has declined notably in the early months of 2022, foreshadowing the likelihood of economic tribulations as the economy roils from inflation, supply chain issues, and interest rate hikes. By April 17, trucking on-demand rates had fallen to $2.19 per mile, down from $2.27 on the same day in 2021, and significantly…
Australian Fuel Excise Cut Hits Trucking Industry Hard with Ripple Effect on Consumers
The halving of Australia’s fuel excise as part of last month’s Budget will save consumers 22 cents per litre at the bowser for the next six months, but the simultaneous scrapping of the 18 cents per litre fuel tax rebate on diesel is seriously impacting the trucking industry, with potential knock-on effects for consumers. With…
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