PSA container throughput performance for 2022
PSA International Pte Ltd (PSA) handled container volumes of 90.9 million Twenty-foot Equivalent Units (TEUs) at its port projects around the world for the year ending 31 December 2022. The Group’s volume decreased by 0.7% over 2021, with flagship PSA Singapore contributing 37.0 million TEUs (-0.7%) and PSA terminals outside Singapore handling 53.9 million TEUs (-0.7%).
Mr Tan Chong Meng, Group CEO of PSA, shared, “The world experienced another challenging year in 2022 and although most countries were emerging from the global pandemic, many continued to suffer from the negative aftershocks which were compounded by the war in Ukraine, higher energy prices, global inflation and supply chain disruptions.
Global PSA News Release
BDP International appoints new finance leaders to drive growth
BDP International (BDP, a member of the PSA Group), a leading provider of globally integrated supply chain, transportation, and logistics solutions, has announced Mr. Vincent Ng and Ms. Eileen Graber as Chief Financial Officer, and Deputy Chief Financial Officer, respectively.
Mr. Ng will oversee all aspects of BDP’s financial operations throughout its global network of wholly-owned subsidiaries, joint ventures, and strategic partnerships. BDP has over 130 locations around the globe, with over 5,500 employees serving customers across a wide range of industry verticals, including chemical, life sciences & healthcare, industrial & manufacturing, and consumer & perishables.
AJOT
Readout of January negotiating round under the U.S.-Taiwan Initiative on 21st-Century trade
The United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), held an in-person negotiating round for the U.S.-Taiwan Initiative on 21st-Century Trade in Taipei, Taiwan from January 14-17, 2023.
The Office of the United States Trade Representative (USTR) and Assistant United States Trade Representative Terry McCartin led the U.S. delegation as the designated representative of AIT. The U.S. delegation also included officials from AIT, as well as the Department of State, the Department of the Treasury, the Department of Commerce, the Department of Agriculture, the Food and Drug Administration, and the United States Agency for International Development.
AJOT
Huge sanctions are looming for the fuel that powers the world
An unprecedented chunk of the global diesel market, the workhorse fuel of the global economy, is just weeks away from being subject to aggressive sanctions.
From February 5, the European Union, the G-7 and its allies will attempt to impose a cap on the price of Russia’s fuel exports — the latest punishment for its invasion of Ukraine. That will coincide with an EU prohibition on almost all imports of Russian oil products.
Supply Chain Brain
EVs made up 10% of all new cars sold last year
BERLIN—Electric-vehicle sales crossed a global milestone last year, achieving around 10% market share for the first time, driven mainly by strong growth in China and Europe, according to fresh data and estimates.
While EVs still make up a fraction of car sales in the U.S., their share of the total market is becoming substantial in Europe and China, and they are increasingly influencing the fortunes of the car market there as the technology goes mainstream. The surge in EV sales also contrasted with the broader car market that suffered from economic worries, inflation and production disruptions.
The Wall Street Journal
Air traffic seen back to normal by June on China rebound
China’s reopening to international travel could propel global air traffic back to pre-pandemic levels as soon as June, one of the world’s leading aircraft-leasing firms predicts.
Avolon Holdings, the world’s second-largest jet lessor, said January 16 that the aviation sector “is set to thrive in 2023,” with Asia driving the rebound from years of COVID-19 disruption after Europe and North America did so last year.
Supply Chain Brain
China’s economic growth fell to near-historic lows as Covid took a bite
SINGAPORE—China’s economy grew at one of its slowest rates in decades last year as repeated lockdowns hammered households and businesses, emphasizing the high cost of zero-tolerance Covid-19 policies that Beijing abruptly abandoned at the end of 2022.
China’s economy expanded 3% in 2022, the National Bureau of Statistics said Tuesday, a sharp slowdown from the 8.1% pace recorded in 2021. Aside from 2020, when the economy grew only 2.2%, last year marked the worst year for gross domestic product growth in China since 1976, the year that Mao Zedong’s death ended the decade of strife known as the Cultural Revolution, according to World Bank data.
The Wall Street Journal
