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Shipping hurt by weak demand for Chinese goods

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Shipping hurt by weak demand for Chinese goods

Weaker worldwide demand for Chinese language items has led to an increase in transport cancellations on the nation’s greatest ports, placing a damper on the anticipated financial enhance from its emergence from zero-Covid insurance policies.

Business individuals in China level to a rise in “clean sailings”, the place carriers miss ports as a result of there’s not sufficient cargo to select up or they concern delays.

Whereas cancellations are typical throughout the trade and normally rise throughout lunar new yr, the provision chains information supplier Drewry mentioned the speed is “exceptionally elevated” this yr, due to a drop in demand within the West. China’s exports have fallen for 3 consecutive months, weakening a core pillar of its struggling financial mannequin.

The cancellation fee for ships travelling east from Asia throughout the Pacific or to Europe will attain 31 per cent over the approaching weeks, in contrast with 23 per cent over the identical interval final yr and 16 per cent in 2021, Drewry mentioned.

In addition to weak demand there’s much less to be shipped after lots of of hundreds of thousands of estimated Covid-19 instances over the previous month added to stress on the nation’s provide chains, resulting in workers shortages and manufacturing unit closures.

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“What occurred to the transport market because the virus unfold in every single place in China . . . is worse than my worst projection,” mentioned Mark Younger, chief govt of Shanghai-based Asia Maritime Pacific, which owns a fleet consisting of dozens of ships.

“The market has many empty ships however fewer cargo able to be shipped,” he added, evaluating the state of affairs with the start of the Covid-19 pandemic in early 2020.

China’s huge infrastructure linking factories and ports has grappled for 3 years with a strict zero-Covid regime that required frequent quarantines for personnel and “closed-loop” operations. The coverage led to delays and cancellations, however exports largely boomed over that interval as demand for items soared.

Simon Sundboell, founder and chief govt of information supplier eeSea, mentioned the character of the disruption had now modified, from a state of affairs pushed by delays inside a “scorching market” to one among weaker demand.

“The trade is coming slowly again to regular and also you do must cancel extra due to demand decreasing,” he mentioned. “Final yr, that was right down to all these extreme delays.”

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One Shanghai-based producer who requested to stay nameless mentioned the carriers “simply aren’t coming into the ports as a result of there’s no quantity”. He added {that a} fall in demand “is leading to transport strains lowering the variety of vessels in circulation”.

Jan Dieleman, head of Cargill Ocean Transportation, mentioned the coronavirus outbreak was “completely” contributing to a rise in clean sailings. The commodity transport group has not cancelled deliveries however has decreased coal shipments to China in latest months, partly due to seasonal adjustments in demand.

Younger mentioned Asia Maritime Pacific had been compelled to cancel a crusing to a port on the Changjiang river to gather steel-related cargo as a result of the manufacturing unit couldn’t produce it in time. He expects to ship one other ship to gather it in a month.

Clean sailings have elevated globally over the previous yr on a weakening financial backdrop. In China, the primary nationwide outbreak of coronavirus coincided with the build-up to lunar new yr. Maersk, the Danish container transport firm, mentioned demand will be “anticipated to be risky given the vacation closure in China mixed with each the Covid state of affairs and the continuing stock correction in US and Europe”.

Anne-Sophie Zerlang Karlsen, head of ocean operations for Asia-Pacific at Maersk, nonetheless steered that the broader rest of Covid-19 measures was “a really constructive improvement that has the potential of lifting the Chinese language economic system considerably”.

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Cargill’s Dieleman mentioned the transport trade was now counting on a rebound in financial exercise. “Folks assume that the primary [Covid-19] wave will go,” he mentioned. “There’s going to be stimulus from the federal government. So folks begin being bullish.”

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Employee non-compete agreements barred by US regulator

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Employee non-compete agreements barred by US regulator

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The US Federal Trade Commission has voted to ban non-compete agreements, taking aim at contracts that limit employees’ freedom to quit for a new job at a different employer.

The regulator’s commissioners voted 3-2 on Tuesday to implement the far-reaching measure first proposed in January 2023 in a bid to avoid wage suppression and protect innovation. But the move sparked immediate legal pushback.

Non-compete agreements have become pervasive across industries, amid limited oversight and a decline in unionisation, experts say. The FTC said approximately 30mn workers are subject to such contracts, which prohibit employees from working for a competitor or setting up a competing business for a period of time or within a geographical area after they leave a job.

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“Non-compete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 new start-ups that would be created a year once non-competes are banned,” said Lina Khan, FTC chair. Non-competes constituted “unfair methods of competition”, she added.

The FTC estimated the new rule will raise an average worker’s earnings by $524 a year. The agency received more than 26,000 public comments on the matter, a sign of its importance to workers and their employers.

But the measure also inflamed industry groups that have claimed it is too drastic and will increase costs while putting trade secrets in jeopardy.

The US Chamber of Commerce announced it would sue the regulator, arguing the agency lacked constitutional and statutory authority to enact the rule, calling it a “blatant power grab” that “sets a dangerous precedent for government micromanagement of business”.

The FTC declined to comment on the chamber’s move.

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Andrew Ferguson, one of two Republican FTC commissioners who voted against the rule, agreed with the argument that the agency lacked congressional authority to adopt the rule.

The expected lawsuit will compound the legal sparring between corporate America and regulators appointed by President Joe Biden who have ushered in tougher stances on rulemaking and enforcement.

Khan is among a new generation of progressive officials who have adopted more stringent antitrust policies in an effort to fight what they argue has been unchecked anti-competitive conduct. 

The impending litigation is also set to add uncertainty for businesses, some lawyers said.

“The question is: what are companies supposed to do now?” said Russell Beck, an attorney who sat on a working group tackling the noncompete issue during the Obama administration.

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He said the best course of action for companies was to wait and see how the issue plays out in court. “I think there will be a slew of challenges until a judge issues a nationwide injunction prohibiting the operation of the rule.”

But Rachel Dempsey, an attorney at Towards Justice, a non-profit law firm representing employees, said in a statement that non-compete agreements “keep workers trapped at jobs with low wages and poor working conditions”.

The rule was “a historic step towards protecting workers from employer abuse and empowering them to stand up for their basic rights in the workplace”, she added.

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'Total disbelief': Friends shocked by man setting himself on fire outside Trump trial, say he was kind but troubled

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'Total disbelief': Friends shocked by man setting himself on fire outside Trump trial, say he was kind but troubled

When Doug Johnson received a text that his friend of over a decade, Maxwell Azzarello, had died after setting himself on fire in New York City, he didn’t believe it.

“I was like, ‘No, you got the wrong person. I don’t know anybody that would do that,’” Johnson told NBC News.

Johnson did some research online out of curiosity, and that’s when he saw Azzarello’s face pop up in an article.

Maxwell Azzarello.via Instagram

“Just immediately, chills up my spine, like, in total disbelief,” he said.

Azzarello set himself on fire outside the courthouse where former President Donald Trump’s hush money trial was taking place on Friday.

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According to police, he walked into the center of the park where protesters were allowed across the street from the courthouse, opened a backpack and threw numerous pamphlets on the ground. He then pulled out a canister, poured a liquid accelerant on himself, lit himself on fire and then fell to the ground.

Azzarello, 37, later died of his injuries, leaving friends and strangers alike wondering what drove him to his actions.

Johnson, who was part of the same friend group as Azzarello in North Carolina, describes him as smart, funny, charismatic and the most intelligent human being he had ever met.

“I keep hearing on the news, you know, how he was a conspiracy theorist, an extremist — and obviously, you have to be extreme to do something like he did,” Johnson said. “But as far as the way the picture’s been painted of him so far, I feel like it’s a really inaccurate depiction of him.”

Selfless, but troubled

A glimpse at social media gives a small window into Azzarello’s thoughts. Multiple pictures of pamphlets entitled “Dips— Secrets of our Rotten World” and “The True History of the World,” were posted to his Facebook and Instagram, expressing anti-government views. In his pamphlets, he accused powerful people of running Ponzi schemes and warned of an imminent economic collapse and coup.

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Max Azzarello outside of Manhattan criminal court in New York City
Max Azzarello outside of Manhattan criminal court in New York City, on April 18. David Dee Delgado / Getty Images

On Friday, a user on Substack going by the name M. Crosby — Crosby is Azzarello’s middle name — published a blog post where he wrote that he set himself on fire outside of the Trump trial in New York City. The writer said that this “extreme act of protest is to draw attention to … an apocalyptic fascist world coup.”

Mary Pat Cooney, who worked with Azzarello nine years ago at the Liberty Hill Foundation, an L.A.-based social justice nonprofit, described him as a selfless person who was “always happy to help people” if they had a problem.

“He was highly intelligent, thoroughly dedicated, funny and kind — that’s the person that I remember,” Cooney said.

Azzarello attended the University of North Carolina at Chapel Hill and graduated in 2009 with a B.A. in public policy and anthropology, according to a university spokesperson. He also earned his master’s degree in city and regional planning, with a major in urban planning and policy development from Rutgers University in New Brunswick in 2012.

“I swear, as far as history and politics and, you know, social studies, social matters, stuff like that, there wasn’t a topic that he wasn’t knowledgeable in,” Johnson, Azzarello’s friend from North Carolina, said. “And it was like the equivalent of me typing something into Google and then Max is spitting out the information to me, and he was accurate with it.”

But beyond Azzarello’s brilliance, he seemed to be troubled, according to his friends. Both Johnson and Cooney said Azzarello appeared to change after the death of his mother in April 2022.

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Cooney, who kept in touch with Azzarello through Facebook, said the character of his posts became less good-natured after his mother’s death.

“In his previous posts, and all our communication — (he was) concerned, righteous, knowledgeable, a good-spirited guy,” Cooney said. “The guy that came a little later was a bit more of a ranter, had a different level of anger, and was expressing it in a — I don’t know what the right word is, but it was kind of like he was yelling at us to pay attention to him, rather than pleading his case and sharing it for the world.”

In August of last year, Azzarello posted a picture of grippy socks to his Facebook with the caption, “Three days in the psych ward and all I got were my new favorite socks.”

“I was handcuffed, shoved, and put into a psych ward,” Azzarello wrote toward the end of the caption. “I was given no information about why I was there until after my discharge. Though I committed no crime and was released upon my first evaluation, all background checks (like the ones for jobs) will show an incident with police officers that cannot be expunged (until we abolish the government, of course).”

It’s not clear what events took place before Azzarello said he was committed to the psych ward.

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A string of arrests

Azzarello’s alleged stint in a psych ward seemed to precede a string of arrests in St. Augustine, Florida, where he lived before his death.

On Aug. 19, 2023, Azzarello was charged with criminal mischief when he allegedly threw a glass of wine at an autograph by former President Bill Clinton that was on a wall at the lobby of the Casa Monica Resort & Spa, according to a warrant affidavit from the St. Augustine Police Department.

Two days later, Azzarello allegedly returned to the resort and stood outside, where he stripped down to his underwear, yelled and cursed at customers, and was blasting music from a speaker, per an arrest report.

An officer who attempted to make contact with Azzarello said “he just began yelling and was not making any sense.” He was arrested for disturbing the peace. Azzarello was put on probation for this incident, which ended earlier this month.

Three days after that, Azzarello was arrested again for criminal mischief after he was seen on surveillance video allegedly vandalizing property belonging to a nonprofit in St. Johns County, including writing with permanent marker on one of their signs, court documents state. He was also seen climbing into the bed of someone’s pickup truck and going through their belongings, as well as removing a sign placed at a home by pest control warning them to keep pets and children off the lawn.

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“Azzarello was misinterpreting the sign and was telling me that the pest control company was there to exterminate children and dogs,” an officer with the St. Augustine Police Department wrote in the arrest report.

Azzarello was also put on probation in connection with these incidents, which ended earlier this month.

His final moments

Two years after the death of his mother, Azzarello made his way to New York City where he self-immolated. It’s not clear why or when Azzarello came to the city, but NYPD Chief of Detectives Joseph Kenny said he arrived early last week and that family members were unaware that he was there.

When asked if he felt there was a reason Azzarello would self-immolate outside of the Trump trial, Johnson said Azzarello wasn’t specifically concerned about Trump, but would speak generally about the corruption of all politicians.

While struggling to understand why his friend would do this, Johnson hopes people don’t remember Azzarello just for his final moments.

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“He deserves at least to be remembered for the good person that he was, the selfless person that he was, the charismatic, loving, giving person,” Johnson said. “All he wanted was better for people and it didn’t matter if he knew you or not. He wanted better for everyone.”

 If you or someone you know is in crisis, call 988 to reach the Suicide and Crisis Lifeline. You can also call the network, previously known as the National Suicide Prevention Lifeline, at 800-273-8255, contact the Crisis Text Line by texting HOME to 741741 or visit SpeakingOfSuicide.com/resources.

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Prosecutors ask judge to punish Donald Trump for violating trial gag order

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Prosecutors ask judge to punish Donald Trump for violating trial gag order

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