Economic activity in the manufacturing sector contracted in May for the first time since November 2012, and the overall economy grew for the 48th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

3D printing is being hailed as a breakthrough technology that will revolutionize manufacturing and supply chain management. This may be the case, but we should avoid repeating the mistake of relying on hype to judge its value.

Drewry's latest Dry Bulk Forecaster reports that coal has been the recent saviour of the dry bulk market. Global GDP grew by 3.2 percent in 2012, following growth of 5.2 percent and 4.0 percent in the post-recession years of 2010 and 2011. This slowdown blighted dry bulk cargo volumes and in turn tonnage demand. Global steel production, reflecting industrial and growth activity around the world, grew by only 1.3 percent in 2012, with a subsequent impact on iron ore and coking coal trade.