AE Shipping on a Roll Once Again with Soaring Bulk Shipping Rates

Freight Surge Signals Strong Post-Pandemic Recovery in Global Trade

The consignment market is a good indicator of how quickly demand for goods has recovered after the coronavirus. The Baltic Dry Index, a common gauge of freight transport costs, rose for the tenth consecutive time on Monday, reaching its highest level in 11 years.

Jan Rindbo, CEO of D/S Norden A/S, a 150-year-old Danish operator with more than 500 vessels, said: “At the beginning of the year, people thought this was a short-term spike in the market, but now they see it as structural and longer-term.”

Reviving Tradition: The Iconic Walking Liberty Coin Design and Its Modern Evolution

Adolph A. Weinman’s iconic “Walking Liberty” design, which appears on the obverse (side) of the coin, has long been a favorite with collectors. It depicts Liberty in full dress, surrounded by the folds of the flag, holding oak and laurel branches in her left hand and extending her right. To create a more accurate representation of Weinman’s original interpretation and details, including the inclusion of his trademark artistry, the U.S. Mint retained his original historical assets. “LIBERTY,” “IN GOD WE TRUST,” and “2025” are the inscriptions.

In 2021, a new reverse (tail) design was introduced. It depicts an eagle holding an oak branch as if adding it to its nest as it approaches a landing site.

Global Freight Costs Surge Amid Congestion, Capacity Shifts, and Labor Unrest

Price increases and surcharges on low-volume commercial routes are driven by congestion and capacity changes. Prices in East Asia and India have doubled since the beginning of April, according to Freightos Terminals statistics. The major carriers have not lowered their trans-Pacific or Asia-Europe rates even as their east-west capacity is growing.

While traffic remains a problem in Barcelona, ​​it is better in Singapore, Malaysia and China, partly because more people are using India’s now congested port of Mundra. Dockers in France have postponed their planned strikes to September. A rail strike is looming in Canada as the Industrial Relations Board prepares to make a final decision.

Tens of Thousands of UK Businesses at Risk from Soaring Bills

Begbies Traynor, an insolvency firm, showed that 632,700 companies were at significant risk of failure in the three months to September.  Almost a third more than the same period last year and 5% more than the previous quarter. The Begbies Traynor Red Flag Alert report, which tracks key financial indicators such as profit retention, interest coverage ratios, and non-current liabilities, revealed the highest level of corporate distress. However, this figure is higher than the levels seen during the 2008 global financial crisis.

UK Businesses at Risk

UK Businesses, on the other hand, are not protected by the cap. Red Flag warns that energy-intensive companies risk going bankrupt or having to lay off employees if they don’t receive government support. Meanwhile, the government’s proposal is expected to include some support for businesses, but details are still unknown. According to Red Flag, many businesses are having to choose between paying wages and energy bills.

Businesses will not be able to absorb these costs and will very quickly be forced to make a decision about whether they can pay their energy bills. According to the Office for National Statistics, 45% of small businesses in the UK  have less than three months of cash reserves. The FSB chief said that around 13%, or 210,000, are in “severe difficulty,” while another 310,000 have only a few weeks left.

UK Businesses at Risk

That’s a real possibility because they don’t have cash reserves. They have no way of resolving this situation. McTague cited a situation in which a Scarborough hotel owner’s income was wiped out by rising energy costs, five times higher than the average. In fact, they were no longer able to trade without incurring significant losses and therefore damaging the future of their business and everyone who worked for them.

More Americans Covered by Health Insurance in 2020, CDC Says

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