The worst of the global trade slowdown is likely over, but a rapid recovery is not expected, Bloombergreports. Five of the 10 indicators on the Bloomberg Trade Tracker remained below normal levels in mid-May, as key ports worldwide witnessed a decline in shipping and export volumes. Sentiment remains low, but it is slowly improving as shipping delays and raw material costs normalize.

New orders signal that better days are coming, but growth will likely be moderate, Bloomberg writes. The "slowbalization" trend — which refers to a considerable slowdown in cross-border flows and investment after a rapid phase of globalization — indicates that any potential recovery in trade will probably be “subdued,” the news information service writes. The reopening of China's economy might boost consumer demand, but it is not clear whether it will be enough to counterbalance the downturn in the US and Europe.

Up to half of the USD 4 tn diesel-powered freight truck market can make the switch to EVs on a cost-efficient basis, CNBC quotes Swedish EV trucking startup Einride’s CEO Robert Falck as saying. Einride’s ultimate goal is fully autonomous EV trucking, however, that may take up to 25 years to achieve, Falck says.

ALSO WORTH KNOWING-

  • Funding for logistics startups is drying up as the covid-19 pandemic subsides and funders are becoming more selective with their seed and mid-stage investments amid an environment of heightened interest rates. (Wall Street Journal)
  • Chinese shipping firmCOSCOwill acquire a 24.99% stake inHamburger Hafen und Logistik’s Container Terminal Tollerort (CTT) at Hamburg Port after receiving the greenlight from the German government on 10 May. (Statement)
  • E-commerce giant Amazon has overhauled its logistic network, prioritizing domestic shipping and placing commonly bought products closer to customers in areas that often buy them, in an effort to cut back on travel times across the US and improve efficiency and profitability. (Wall Street Journal)
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