News & events
Announcements, milestones, and event coverage from across our network.
Red Sea crisis could clobber the global economy ?
Attacks by Iran-backed militants in the Red Sea have effectively closed one of the world’s main trade routes to most container ships — vessels that carry everything from car parts to Crocs from one corner of the globe to another. A prolonged closure of the waterway, which connects with the Suez Canal, could snarl global supply chains and drive up the prices of manufactured goods at a crucial moment in the battle to defeat inflation. The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes
Warehouse Availability Surges to Highest Level Since the Pandemic
The fourth-quarter vacancy rate of 5.2% reported by Cushman & Wakefield was up from 3.1% in the same period a year earlier. More warehouse space is sitting empty across the U.S. than at any time since the pandemic. The average warehouse vacancy rate across the U.S. jumped to 5.2% in the fourth quarter of 2023 from 4.6% the previous quarter and 3.1% a year earlier, according to a new report
Saudi Arabia opens new logistics zone in Jeddah
Jeddah's new 2.3 million sq. m logistics zone is set to create 10,000 jobs and strengthen its role as a global trade hub.