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Freight updates August 16, 2023: latest news and updates on the worldwide supply chain

The worldwide supply chain is constantly changing. As we continue dealing with the fallout of pandemic-related supply chain issues, fluctuations in prices, labour disruptions, logistic delays, and port congestion persist. We provide you with industry updates that include some of the latest freight news, helping to keep you on top of the dynamic global supply chain landscape. 

Canada posts biggest trade deficit in almost three years, analyst predicts 'rough summer'

Canada's trade deficit widened to $3.73 billion in June from May, the largest in nearly three years, as exports dropped 2.2%, outpacing an 0.5% decline in imports, Statistics Canada said on Tuesday. Read more.  

Canada’s West Coast ports get 4-year labor deal after union ratification

A four-year labor contract is now in place at Canada’s West Coast ports after both the negotiating union and maritime employers ratified the deal, bringing stability back to the country’s supply chains. Read more.

Friendshoring offers Canada both risks and opportunities in new era of global trade

Canada should tread carefully when implementing a “friendshoring” policy, according to a new assessment from the Conference Board of Canada that points out the potential economic pitfalls of attempting to reshape trade patterns. Read more.

Yellow shutdown may lead to sticker shock for shippers, analysts say

Yellow Corp.’s shutdown has left shippers without a major player in the less-than-truckload space – a development that means higher costs are likely in store, according to trucking industry analysts. Read more.

Historic drop in China volumes curbs global parcel grow

A historic decline in China parcel-shipping volumes brought global growth to a virtual standstill last year and will curb global activity through 2028, according to Pitney Bowes Inc.’s annual global shipping index published Wednesday. Read more.

About Cole International’s Freight Forwarding Services:

At Cole, we’re proud to have been freight forwarders for more than 60 years. Freight forwarders are at the frontlines of today’s global supply chain challenges. These updates share some of the latest freight news: keeping you abreast of the situation and giving you insight into the complexity freight forwarders are navigating at this time. Contact us today to learn how we can streamline your shipping operations.

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