According to shipping analyst, Sea-Intelligence, global schedule reliability is demonstrating a vast improvement. In the most recent performance report, statistics show an improvement increase of 7.7% per month, reaching a reliability of 60.2%. Global reliability was 26% higher in February 2023 than in February 2022. In...
There is no doubt that 2023 has seen the logistics and shipping landscape return to what appears to be a state of normality. Freight rates across major trade routes continue to decline to pre-pandemic levels and supply chain bottlenecks have also predominantly been restored to...
In a tripartite deal with the US and UK, Australia has announced a plan to acquire a fleet of up to eight nuclear-powered submarines, which is forecast to cost up to $368 billion between now and the mid 2050s. According to the Australian Government, this AUKUS...
In 2022, Australian wine exports to Southeast Asia grew by 16 per cent in value to $305 million and 56 per cent in volume to 27 million litres. Consisting of a diverse group of markets and home to more than 686 million people, the nations of...
The Australia - United Kingdom Free Trade Agreement is a step closer to the announcement of a commencement date, after the enabling legislation in the UK received Royal Assent. This historic agreement is the UK's first new trade deal signed since Brexit and will remove tariffs...
Market sentiment from rural Australian producers has fallen to its lowest level since late 2018 as producers continue to navigate a range of economic and financial uncertainties, with commodity prices, interest rates and re-emergence of drought topping the list of concerns. According to the latest Rabobank...
During the recent earthquake, which devastated Turkey, Iskenderun Port was severely damaged. Subsequent to the earthquake, the terminal was also hit by a severe blaze that lasted for three days and destroyed around 3,670 containers. In addition, more than 1,200 buildings have been destroyed in...
The tail end of 2022 saw numerous factors such as a decrease in volume and the alleviation of port congestion across major port locations contribute to a reduction in freight rates. As such, according to Freightos data, freight rates fell across the board in the final...
The first seven weeks of 2023 has seen 50+ Asia-Europe westbound sailings cancelled, with the chance that carriers could decide to blank more sailings if demand continues to decrease more than expected. According to Alphaliner, Ocean Alliance members CMA CGM, Cosco, OOCL and Evergreen have voided...
China has agreed to a meeting with Australia's Trade Minister Don Farrell, raising wine exporters' hopes that current trade restrictions may be lifted, allowing for the free flow of Australian wine into the Chinese market. These trade restrictions, put into place in March 2021 amid rising...