The shipping industry is now returning to normality and is in a downward spiral. The cost of shipping goods from China has slumped to the lowest level in more than two years as the world economy stumbles, dimming prospects for container carriers that turned in record profits during the pandemic.
China’s shipping industry has reported a 60 per cent drop-in freight rates, as congestion linked to Covid-19 eases globally and the country’s foreign trade slows down. Spot rates, as recorded by the Shanghai Containerized Freight Index (SCFI), are on a “fast-declining trend”.
In what’s typically the peak season for seaborne trade, global demand for Chinese goods is waning instead as consumers cut back spending because of inflation and the shift away from goods toward services.
Container shipping has been warned to brace for a hard landing rates-wise as multiple indices around the world plunge further.
The steady fall in spot container rates is putting pressure on carriers that have been pushing to sign more long-term contracts with customers as those prices soared into early 2022. Many of the carriers’ customers want to re-negotiate for discounts.
Agents and freight forwarders in Asia have received calls recently from cargo owners asking to lower their shipping costs, with some exporters complaining about the unfairness of paying almost twice as much on contracts than the spot market. Shipping companies want exporters to bulk up their volumes, but many are refusing to because of the weaker economic outlook.
Reference:
https://fijisun.com.fj/2022/09/21/chinas-shipping-industry-face-60-drop-in-freight-rates/
In a converging policy shift on both sides of the Atlantic, European regulators this week published a roadmap toward fully replacing animal testing for chemical safety assessments, while the US Environmental Protection Agency issued a rare update to its list of alternative test methods.
The global pharmaceutical fine chemicals sector is undergoing a profound transformation, with India emerging as a central growth engine amid sweeping changes in supply chain strategies and regulatory priorities. As drug makers and contract manufacturers adapt to stricter oversight and evolving sourcing preferences, the industry’s focus is shifting rapidly from cost efficiency to compliance, localisation and technical sophistication.
Stakeholders are being encouraged to weigh in on the European Chemicals Agency (ECHA) 60-day public consultation period related to a planned ban on per-and-polyfluoroalkyl (PFAS) substances, also known as forever chemicals.
We’re pleased to share an important milestone in our sustainability journey.
ExSyn has been awarded the EcoVadis Platinum Medal, placing us among the top 1% of companies globally evaluated for environmental, social and ethical performance.
While fears around a complete shutdown of the Strait of Hormuz primarily raise concerns around oil prices and energy security, recent history shows that even partial disruptions or security threats along key sea routes can quickly spill over into freight inflation, longer transit times and working capital stress for exporters and importers.
The European Union (EU) has agreed to offer Indian pharmaceutical and medical devices companies preferential access to EU market, along with cutting tariffs on 97.5 percent of chemical products to zero.
As we approach the close of this year, we at ExSyn would like to extend our heartfelt gratitude for your trust, collaboration, and continued support. Your confidence in our products and services has been the driving force behind our growth and success.
The U.S. Food and Drug Administration (FDA) today announced significant action to make it faster and less costly to develop biosimilar medicines, which are lower-cost “generic” alternatives to biologic drugs that treat serious and chronic diseases.
Products containing titanium dioxide in the EU are no longer required to carry warnings about cancer risk, after the European Chemicals Agency (Echa) revoked its classification as a suspected carcinogen. The move follows a June 2025 decision by the Court of Justice of the European Union and means that safety data sheets, labelling and packaging requirements for titanium dioxide have been relaxed across industries including paints, pharmaceuticals, cosmetics and food.