Cuban president says the country’s power grid has completely failed after the US stopped oil shipments for three months.
Cuba’s power grid has totally collapsed, leaving around 11 million people in the dark. The country depends heavily on oil for its electricity, and the ongoing U.S. embargo has intensified its energy crisis. As a result, the U.S. has halted oil shipments from Venezuela to Cuba and has warned other nations against supplying the island […]
OPEC+ decides to increase oil production despite disruptions in shipments caused by the US conflict with Iran.
OPEC+ to Increase Oil Production Amid Geopolitical Tensions On Sunday, OPEC+ decided to increase oil production by a modest 206,000 barrels per day starting in April. This move comes as tensions rise due to the U.S. and Israeli military actions against Iran, which are disrupting oil flow from key producers in the Middle East. Although […]
Shipments from China to US midsize companies fall by 20%, according to JPMorgan Chase.
Payments from mid-sized U.S. companies to China saw a notable decline last year, according to recent findings. This drop is linked to the tariffs imposed on imports during the Trump administration. A study by the JPMorgan Chase Research Institute, released on Thursday, indicated that these companies reduced their payments to China by around 20% from […]
Reduced Cocoa Shipments to Ivory Coast Ports Raise Cocoa Prices
Cocoa Prices Surge Amid Supply Concerns Cocoa prices experienced a notable rise on Monday, with ICE NY Cocoa closing at +206 (+3.51%) and March ICE London Cocoa #7 ending at +109 (+2.57%). This uptick can largely be attributed to dwindling cocoa supplies from Ivory Coast, the world’s leading cocoa producer. Recent statistics indicate that farmers […]
Apple will top smartphone shipments in 2025 for the first time since 2011.
Apple Poised to Overtake Samsung in Smartphone Market According to a new report by Counterpoint Research, Apple is projected to reclaim its position as the largest smartphone maker in the world by 2025, surpassing Samsung in shipments for the first time in over ten years. Global smartphone shipments are anticipated to rise by 3.3% year-on-year […]
China’s total exports increase despite a sharp decline in shipments to the US
China’s exports to the US saw a substantial rise of 33% in August, largely driven by new markets as the European Union and other partners joined in. This shift resulted in an overall export growth of 4.4%, particularly as China sought alternatives amidst President Trump’s attempts to sidestep tariffs. Even though this marked the slowest […]
European and Asian postal services to stop sending shipments to the US as Trump’s de minimis exemption ends
Postal services worldwide, particularly in Europe, are gearing up to suspend shipments to the US as a result of the upcoming end to the DE Minimus tariff exemption under the Trump administration. This “de minimus” rule previously allowed carriers to ship items valued under $800 to the US without incurring duties. Recently, the White House […]
European Postal Services Halt Shipments to the US Due to Tariffs
Postal Services in Europe Halt Shipments to the US ATHENS, Greece – Several postal services across Europe have announced a suspension of shipments to the United States due to uncertainty regarding new import regulations, as stated on Saturday. Postal services in Germany, Denmark, Sweden, and Italy have halted the shipping of most packages. France and […]
China Satisfying Its Huge Oil Needs Through Illegal Shipments from Russia, Iran, Venezuela
Global Oil Smuggling Network Exposed On Wednesday, the Financial Times reported, in collaboration with a research group known as C4ADS, about a complex international operation that is circumventing sanctions to ship significant amounts of oil from Russia, Iran, and Venezuela to China. Essentially, this operation was initiated by an Iranian accountant working for a Panama-based […]
A change in tax-free rules for low-cost goods is affecting air shipments to the US from China.
Air freight volumes from Asia have dropped significantly since the US ended its tax exemption for low-value packages coming from China, as noted by trade groups and analysts. According to data from the International Air Transport Association, demand for air freight from Asia to North America decreased by 10.7% in May compared to the previous […]