Calgary Customs Brokers Ltd.

The freight bubble appears to finally be bursting. Daily calls and lots of spam from carriers and freight companies looking for loads. A downturn combined with excess container inventory and space that was implemented to satiate the pandemic desire for material objects has created a perfect storm as demand has cratered amid higher interest rates

Freight rates from China to West Coast down 90% as global trade falls off fast The cost of ocean freight from China bound for the U.S. West Coast has plunged year over year as demand falls more rapidly than logistics managers forecast.

https://www.msn.com/en-ca/news/world/china-locks-down-key-transportation-hub-markets-fear-economic-fallout/ar-AA14mnE9?ocid=msedgntp&cvid=217d0ac9bbeb4815be837021b4a7d98e

Guangzhou and Hebei under lockdown again. Stoking fears of another economic slowdown and a 5% slide in oil prices. Even though China has less than 27,000 cases nationally their hard line response has many worried that further and larger lockdowns could be on the horizon.

"The lockdown comes as Guangzhou scrambles to contain its worst Covid outbreak in three years. Guangzhou reported 8,181 cases on Sunday, bringing its total number of infection to over 80,000 since October 22"

China locks down key transportation hub; markets fear economic fallout China has locked down a major transportation hub in the south, as the country grapples with its largest nationwide Covid outbreak since April.