Air Freight Rates Drop Amid Ocean Shipping Recovery

Air Freight Rates Drop Amid Ocean Shipping Recovery

Impacted by the recovery of ocean freight, air cargo prices have significantly declined, prompting retailers to accelerate their shift to ocean shipping for cost reduction. The market is exhibiting a trend towards shorter-term contracts, placing pressure on industry profitability. However, new opportunities, such as cross-border e-commerce, persist. The market is expected to gradually stabilize in the future, but short-term challenges remain, requiring flexible strategies. The drop in air freight rates is primarily driven by retailers switching to ocean freight due to lower costs.

Fast Fashion Giant Shein Invests 15M in Factory Upgrades

Fast Fashion Giant Shein Invests 15M in Factory Upgrades

Fast fashion giant Shein announced a $15 million investment to upgrade its supply chain factories, aiming to improve working conditions and enhance its corporate image. This move follows media exposure and internal investigations, and while Shein disputes some allegations, it acknowledges excessive working hours. Facing scrutiny over labor rights and environmental pollution, Shein needs to establish a transparent supply chain, protect worker rights, and promote sustainable development to shed its “sweatshop” image. The investment is a step, but long-term commitment to ethical practices is crucial.

Algeria Boosts Trade Security with Dutch Customs Lab Aid

Algeria Boosts Trade Security with Dutch Customs Lab Aid

Algerian experts visited the Netherlands to study customs laboratories, aiming to adopt best practices for building a modern customs laboratory in Algeria. The visit focused on work organization, infrastructure, and technology application, with a deep dive into the laboratory's role in tariff classification. This initiative is part of the EU-World Customs Organization (WCO) HS-Africa Programme, designed to enhance customs management in African countries, promoting trade facilitation and security. The knowledge gained will contribute to Algeria's efforts to improve its customs procedures and efficiency.