IMF cuts world economic growth forecasts as import tariffs, emerging market issues biteThe Saigon Times Daily A cargo ship is seen behind containers at an automated container terminal in Qingdao port, Shandong province, China October 1, 2018 – PHOTO: REUTERS NUSA DUA (REUTERS) - The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows. The new forecasts, released on the Indonesian resort island of Bali where the IMF and World Bank annual meetings are getting underway, show that a burst of strong growth, fueled partly by U.S. tax cuts and rising demand for imports, was starting to wane. The IMF said in an update to its World Economic Outlook it was now predicting 3.7% global growth in both 2018 and 2019, down from its July forecast of 3.9% … [Read more...] about IMF cuts world economic growth forecasts as import tariffs, emerging market issues bite
Cargo marketing
Freight forwarding market to reach USD77bn by 2022
Increasing the number of channel points, strengthening infrastructure connections, improving service quality, and promoting railways for freight transportation will have a positive impact on Vietnam’s freight forwarding industry, which is expected to be worth USD77 billion by 2022. Photo from linkhay.com These key factors are contained in the “Vietnam Freight Forwarding Market Outlook to 2022 - By Normal and Express Delivery; By Sea, Road, Air and Rail Freight and By International and Domestic Freight Forwarding” report released by Indian market research company Ken Research on September 24. Vietnam’s freight forwarding industry is expected to register a positive CAGR of 14.2 per cent during the forecast period of 2018-2022. The market is further expected to be driven by expanding industrial activities, a growing consumer preference for online shopping, upcoming infrastructure in the country, and continuous investment by the government in … [Read more...] about Freight forwarding market to reach USD77bn by 2022
Logistics companies recommend to use metro as cargo transportation
Viet Nam News HCM CITY — Logistics enterprises in HCM City have asked city authorities to allow goods to be transferred by metro to reduce costs and traffic jams, according to online news outlet zing.vn. The proposal was put forward in a recent conference between the city Department of Industry and Trade and local companies on listing key products and services. Đặng Thị Minh Phương, director of Minh Phương Trading Service Company said logistics centres in HCM City were still small and not connected. Meanwhile, bigger logistics centres are located in neighbouring provinces including Long An, Đồng Nai and Bình Dương. As road transport accounts for up to 55 per cent of logistics costs and cargo trucks can only operate six hours a day in urban areas, she recommended using a metro to transfer goods to ease cost and traffic congestion pressure. Phạm Thị Thuý Vân, deputy marketing director of … [Read more...] about Logistics companies recommend to use metro as cargo transportation
Maritime cargo shipping sees positive growth in first half of 2018
Cargo handled at the Hai Phong Port, one of the three biggest port complexes in Vietnam. (Photo: VNA) Hanoi (VNA) - Cargo shipping has seen positive growth in the first six months of the year, with 254.8 million tonnes handled via the country’s seaports, up 17 percent on last year. The Vietnam Maritime Administration (under the Ministry of Transport) reported that 8.7 million TEUs (20-foot equivalent units) of freight containers were processed, up 28 percent against the same period last year, and fulfilling 57 percent of the target set for 2018. During the period, Vietnamese container ships carried about 69.9 million tonnes of cargo, representing a year-on-year rise of 9 percent, according to the administration. According to Nguyen Dinh Viet, deputy director of the Vietnam Maritime Administration, despite the positive growth in the first half of the year, there remains inherent weaknesses that need to be addressed. “The Vietnamese sea fleet still doesn’t have … [Read more...] about Maritime cargo shipping sees positive growth in first half of 2018
Maritime cargo shipping saw positive growth in first half of 2018, weakness remained
Viet Nam News HÀ NỘI — Cargo shipping has seen positive growth in the first six months of the year, with 254.8 million tonnes handled via the country’s seaports, up 17 per cent on last year. The Việt Nam Maritime Administration (under the Ministry of Transport) reported that 8.7 million TEUs (20-foot equivalent units) of freight containers were processed, up 28 per cent against the same period last year, and fulfilling 57 per cent of the target set for 2018. During the period, 38 Vietnamese container ships carried about 69.9 million tonnes of cargo, representing a year-on-year rise of 9 per cent, according to the administration. Foreign journeys According to Nguyễn Đình Việt, deputy director of the Việt Nam Maritime Administration, despite the positive growth in the first half of the year, there remains inherent weaknesses that need to be addressed. “The Vietnamese sea fleet still doesn’t have any container … [Read more...] about Maritime cargo shipping saw positive growth in first half of 2018, weakness remained