June 19th – June 25th
Asia-US container shipping rates are flashing two bearish signals
Trans-Pacific spot container shipping rates have crossed two bearish thresholds. It depends on which indexes you believe, but according to Drewry’s, spot freight rates are now below where they were at this time last year, and according to Xeneta’s, spot rates are now below current contract rates.
DB Schenker acquires USA Truck for $435M
DB Schenker is acquiring USA Truck in a $435 million deal, the two companies announced Friday.
As part of the deal, DB Schenker is paying cash for all outstanding shares of USA Truck common stock, at a price of $31.72 per share. If approved, USA Truck will be folded into DB Schenker’s Land Transport Division in the Americas Region.
US sanctions help China supercharge its chipmaking industry
China’s chip industry is growing faster than anywhere else in the world, after U.S. sanctions on local champions from Huawei Technologies Co. to Hikvision spurred appetite for home-grown components.