Asia-U.S. West Coast avg spot rate down 85%
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Asia-U.S. West Coast avg spot rate is down 85%.
After the collapse in spot market freight rates, the spread between high and low rates from South East Asia to the U.S. has collapsed. It has fallen to less than $4,500 per FEU compared to upwards of $12,000 per FEU at the start of the year, says Xeneta in its latest update. In line with the average fall, South East Asia to U.S. West Coast is also the trade that has seen the most significant drops in the highest and lowest spot rates. "The market high has fallen by more than $10,000 per FEU since the start of the year, and the market low is down by $5,600 per FEU.
Indian trucking community: challenges and opportunities ahead.
Riding the wave of a solid post-pandemic recovery, India has now edged the UK out and entered the exclusive club of top 5 economies worldwide. This is a perfect precursor to the country becoming a $5 trillion GDP nation, a goal which we are expected to reach within the next few years. However, to achieve this objective, there is a need to put the domestic logistics industry into top gear. This is because logistics is needed to transport goods and create employment. And in today's world of just-in-time inventory and 10-minute deliveries, the role of logistics has become even more pronounced. India is quite distinct in terms of its logistics operations which have created challenges and opportunities for the Indian trucking community. However, before delving into this aspect, let's compare the Indian and global logistics markets.
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2021, termed as the year of unbalanced recovery by the UN after the pandemic, turned out to be partial to the real estate sector of the Nation, and the warehousing market was not left out. The restoration of human mobility and revitalization of consumer demand spurred the warehousing market to record large transaction volumes along with robust rent growth across markets, which contributed towards India’s sparked recovery of 8.7% in GDP levels in FY 2022 compared to a contraction of 6.6% in the previous period.
The civil?aviation ministry is yet to launch new training for staff as per CBTA.
In the past, there have been hundreds of reports of shortfalls in handling dangerous goods aboard flights in India. In some of the recent incidents, an IndiGo flight en route to Bengaluru from Thiruvananthapuram witnessed tense moments after smoke and sparks emerged from a laptop bag kept in the passenger cabin, reportedly after catching fire, while the plane was still mid-air.
The impact of autonomous trucks on India’s logistics sector.
According to a study, the global autonomous trucks market size is projected to reach USD 2,013.34 million from 2019 to 2027, at a compound annual growth rate (CAGR) of 12.6%. In India, there are already a handful of start-ups working to make self-driving trucks a reality, indicating market confidence in AVs. India has also revealed plans to build 26 green expressways in the next three years to reduce travel times between cities. While a more connected road network will bring cities and communities closer together, this presents a great opportunity to spur the trials of autonomous trucks in India, which will benefit supply chains and alleviate congestion in international shipping ports.