Afternoon Coffee: China’s Economy Slows Shipping Lane Demand, But Port Activity Returns to Normal in Tianjin

Slow economic growth in China is causing major container-shipping lines to reduce traffic and container volumes between Asia and Europe.

Port activity is returning to normal, however, in Tianjin, China, where recent explosions halted many operations last week. Loading and unloading at Tianjin freight terminals has picked back up this week.

Oil prices hit their lowest levels today since the 2009 financial crisis due to rising supplies. US crude futures fell to nearly $40 a barrel after the Energy Information Administration reported US inventories rose 2.6 million barrels last week.

US economic activity took a dive in July. The Conference Board’s Leading Economic Index fell to 123.3 last month, a drop of 0.2%. The index increased 0.6% in both June and May.

SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.