1. Trucker will strike from Nov.11 in Bangladesh due to rising price of oil.
Due to the rising price of fuel oil, the Bangladesh government raised the price of diesel by about 18% at midnight on November 3. The owners of trucks and covered trucks in Bangladesh have decided to strike indefinitely from November 5. In Bangladesh, most domestic goods and import and export goods are transported by truck drivers, covered truck drivers and tractor drivers. If there is a strike, Chittagong will face great crisis and pressure. The supply chain will collapse, causing serious chaos. In addition, according to foreign media, Chittagong port authority has mandated the use of high security seals in all loaded import containers from December 1 to ensure that the goods will not be damaged or lost.
2. The Suez Canal Authority of Egypt will start to increase the ship traffic fee of the Suez Canal in February 2022.
SCA mentioned that the ship toll of Suez Canal will increase by 6% from February 2022, except for LNG ships and cruise ships. The report on ship tolls is based on the basic prediction of the global economic trend by the International Monetary Fund and other institutions, which was determined after extensive research and evaluation.
3. Spot rate from China to South-east Asia rises again with tight space situation
The space has been reserved until mid-November. Singapore, Indonesia, Thailand, Vietnam and other route prices rose more than 20%. And the shipping schedule is chaotic. Most vessel suffers delay in the coming week.
3. Spot rate from China to South-east Asia rises again with tight space situation
The space has been reserved until mid-November. Singapore, Indonesia, Thailand, Vietnam and other route prices rose more than 20%. And the shipping schedule is chaotic. Most vessel suffers delay in the coming week.
4. China's economy weakens as power fails and Covid rules
CHINA's economy has shown signs of weakness in October as power shortages and surging commodity prices weighed slowed manufacturing, while Covid controls retarded holiday spending. The PMIs show the economy is under pressure from both the supply and demand side. Manufacturers are struggling with electricity shortages and rising costs, while consumer spending remains weak as the government's Covid-zero approach means a tightening of restrictions around travel and social gatherings to contain frequent flare-ups of virus cases. Another worrying sign in the data was the pick-up in inflationary pressure in October. Both input and output prices for manufacturers jumped, suggesting producers are passing on higher costs to customers. Producer-price inflation is already at its highest level in almost 26 years.
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