Freightos: Weekly Ocean Freight Index Update

02 Oct 2024 The strike, led by the International Longshoremen’s Association (ILA) and its 47,000 members across major Eastern US and Gulf Coast ports, is primarily driven by demands for higher wages and safeguards against automation. As a result, most ports in these regions have effectively shut down.

01 Oct 2024

Oil prices steady despite geopolitical tensions, posting a 17% quarterly loss

Brent suffered a 9% drop in September, its steepest monthly decline since November 2022, and recorded a 17% quarterly slump, marking its largest in a year as prices fell for a third consecutive month.

01 Oct 2024

Daily losses of about $4 billion are anticipated from US port strike

Bloomberg estimates the strike will cost the US shipping industry between $3.8 billion and $4.5 billion per day. Other projected effects of the strike include worsening traffic at US West Coast ports.

30 Sep 2024

Dalian Commodity Exchange: 30 September 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 30 September 2024 settled as follows:

27 Sep 2024

Saudi Arabia's strategic shift sparked oil price drop as Middle East production rises

Oil prices dropped more than 3% on Thursday, September 26, following a report on Saudi Arabia's plan to abandon its $100/barrel price target. The move comes as oil production in the Middle East is set to increase

27 Sep 2024

Dalian Commodity Exchange: 27 September 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 27 September 2024 settled as follows:

26 Sep 2024

Oil dropped over 2% as Libya supply concerns eased, China demand worries lingered

The market responded to Libya's agreement on appointing a central bank governor, a key step toward resolving the power struggle over oil revenues that had slashed production and exports.

26 Sep 2024