2022 was a year of seismic and rapid changes for international trade and trade finance. War in Europe, COVID-19, and inflation created unimaginable disruptions in the industry. This dynamic phase is creating opportunities and gives way for new entrants in the ecosystem.
To learn more about sustainability approaches within the industry, Trade Finance Global spoke to Eva Rubio, head of global transaction banking at BBVA at BAFT’s Europe Bank to Bank forum held in London this January.
The digital economy has seen tremendous growth over the past decade for several reasons. This has given rise to a large number of digital assets that are commonly used as part of transactions in digital environments and beyond.
‘Permacrisis’ was crowned word of the year by the editors of the Collins English Dictionary at the end of 2022, defined as “an extended period of instability and insecurity”. It seems an appropriate term to describe the state of global trade, finance, and supply chains as we enter 2023.
As 2023 unfolds, shippers are experiencing signs of relief from the supply chain upheaval over the past few years. U.S. container imports in December continued to close in on 2019 volumes, port delays continued to improve, the maritime capacity crunch has eased, and ocean shipping rates have approached pre-pandemic levels.
Over the past five years, the logistics industry experienced an explosion of new market entrants. This expansion started before COVID-19 and then accelerated dramatically over the last three years. Who are these new carriers, what distinguishes them from traditional carriers, and are they right for you?
There is no question that the turbulent global economy and the unending impact of the COVID-19 pandemic have wreaked havoc on China’s supply chain. The country’s economy is taking a hit with factories being forced to shut down, resulting in a significant disruption in international commerce.
Certainty has been in short supply in the world of shipping in recent years. Shippers, manufacturers, and carriers have all had to adapt to rapidly changing circumstances, from the lingering impacts of COVID to geopolitical conflicts, from stocking trends to industrial action.
I remember reading a quote which has stuck in my mind ever since – “Sharing among an entire ecosystem of innovative partners is a crucial step for modernisation.”
To learn more about their collaboration and the role that technology can play in the commodities industry, Trade Finance Global (TFG) spoke with Peter Johnston (PJ), senior manager digital and agtech at GrainCorp, and Sean Birrell, CTO and co-founder of Veridapt.
