The Stifel Logistics Confidence Index continued its downward trend in May as it fell for the second consecutive month. Compiled by Transport Intelligence, the overall index, which combines the current situation with future expectations, was down 0.8 points from April to 50.7 in May and was 1.3 points lower compared with the same month in 2012. Yet, even with deteriorating confidence, the Logistics Confidence Index registered above the 50 threshold, indicating growth, for the fourth consecutive month. An index value of 50 indicates no change in the volumes currently being experienced for the time of year; above 50 indicates higher volumes, while below 50 indicates lower volumes.
The first full-service carrier to move to Dubai World Central (DWC), the emirate's new airport, will likely begin operations during the summer of 2014, according to Dubai Airports CEO Paul Griffiths.
Today's ever-expanding supply chain offers businesses greater opportunities for efficiency and success in the growing global business environment. The instantaneous and constant flow of data, products and services around the world, however, brings with it a greater risk of violating the numerous and often complex U.S. trade compliance laws and regulations. Businesses that fail to set up policies and procedures to ensure compliance face risks ranging from shipment delays to hefty fines and penalties.
Bribery scandals have dominated headlines in several countries in recent months, among them India and Nigeria. International enforcement of anti-bribery laws has been increasing in the United States and major European countries.
The recent revelation that the owner of an Algerian cargo ship whose crew was held by Somali pirates paid them $2.6m in ransom is yet another indication that the rewards these denizens reap for their illegal, life-threatening work remain a serious stumbling block to ending maritime organized crime, said William H. Watson, president and COO of AdvanFort Company, a maritime security solutions provider.
The deliveries of new ultra-large container ships that are scheduled later this year will further depress Asia-Europe freight rates unless carriers make more radical changes, Drewry Shipping Consultants report.