Key Factors Behind the Hike in Ocean Freight Rates

Key Factors Behind the Hike in Ocean Freight Rates

All, Market & Trade Trends, NewsMay 22, 2024285Views 0Likes 0Comments

Ocean freight container spot rates have sharply risen on major global trades since May's onset, leading to speculation of an early peak season in 2024. Emily Stausbøll, Senior Shipping Analyst at Xeneta, attributed this surge to several key factors: 1. Record Demand: Q1 2024 witnessed a remarkable 9.2% increase in demand compared to the previous year. …

Investigations Initiated in Response to Tyre Safety Claims

All, News, Safety, Maintenance & SustainabilityMay 16, 2024258Views 0Likes 0Comments

Recent actions have been undertaken at multiple facilities linked to a tyre manufacturing giant across Europe, following safety concerns surrounding specific tyre models. Legal authorities, including Etienne Manteaux, a prosecutor from Besancon, France, have initiated these actions to investigate the matter. While concerns regarding the structural integrity of certain tyre models and their potential involvement…

Tires & Rubber 2024 Conference Draws Global Attention in Moscow

All, Events & Exhibitions, NewsMay 3, 2024250Views 0Likes 0Comments

The Tires & Rubber 2024 Conference recently took center stage in Russia, drawing industry leaders, innovators, and enthusiasts from around the globe. This premier event served as a hub for exchanging ideas, showcasing cutting-edge technologies, and exploring the future of the rubber and tire sector. Hosted against the backdrop of Moscow's dynamic landscape, the conference…

£313 Million Tyre Factory Investment Shifts from Spain to Morocco Amid Approval Delays

All, General Industry News, NewsApril 24, 2024330Views 0Likes 0Comments

Sentury Tyre recently announced a strategic shift in its investment plans, opting to allocate funds initially kept for a factory in Spain to accelerate the development of its Moroccan plant. The decision stems from challenges faced in obtaining approvals for the Spanish facility, contrasted with the smooth progress of the Moroccan project. The Moroccan plant,…

Dunlop Launches Next-Gen All-Season Tyres for European Market

All, General Industry News, NewsApril 15, 2024351Views 0Likes 0Comments

Dunlop has launched its latest line of all-season tyres, the Dunlop All Season 2. This release targets a growing segment of the market projected to expand by two to three percent annually from 2023 to 2028. The All Season 2 is tailored to fit a range of modern vehicles, from city cars to SUVs, and…

Goodyear Farm Tires (Tyres) Establishes LSW European Hub in France

All, General Industry News, NewsMarch 19, 2024266Views 0Likes 0Comments

Goodyear Farm Tyres has established a new Low Sidewall Technology Development Centre in France, enhancing accessibility for UK and European distributors and customers to this innovative product. Titan International's French HQ will commence manufacturing and customizing wheels for LSW wheel and tyre assemblies from April, boosting efficiency and flexibility. LSW assemblies, known for operating at…

Yokohama Rubber to Construct New Passenger Car Tyre Plant in Mexico

All, General Industry News, NewsMarch 19, 2024692Views 0Likes 0Comments

Yokohama Rubber Co., Ltd. has unveiled plans to bolster its presence in the North American market by establishing a new passenger car tyre manufacturing facility in Mexico. The company intends to invest approximately US$380 million (¥52.1 billion) in this venture, with an annual production capacity of 5 million tyre. Construction of the state-of-the-art plant is…

Mitas Debuts ‘Most Advanced Tyre to Date’ with Speedway Release

All, General Industry News, NewsMarch 8, 2024242Views 0Likes 0Comments

Mitas is gearing up for the release of its highly anticipated SPEEDWAY tyre, poised to hit the tracks in March 2024. Developed in collaboration with elite racers across Europe, Australia, and the USA, the tyre complies with the rigorous regulations set by the International Motorcycling Federation (FIM). Gustavo Pinto Teixeira, Head of Mitas Motorcycle Tyres,…

Bridgestone to Exit Truck & Bus Tyre Market in China

All, General Industry News, NewsFebruary 29, 2024347Views 0Likes 0Comments

In a strategic move announced on Tuesday, Bridgestone is making a significant departure from the competitive Chinese commercial vehicle tyre market. Bridgestone (China) Investment, a subsidiary, is set to cease truck and bus tyre sales in the first half of this year, with Bridgestone (Shenyang) having already halted production in January. This decision is part…

German Factory Closures – Michelin Points to High Costs, Bureaucratic Hurdles

All, General Industry News, NewsFebruary 19, 2024279Views 0Likes 0Comments

Germany’s days as an industrial superpower are coming to an end, opined Bloomberg on 10 February. The media firm blames competition from the USA, the energy crisis and declining Chinese interest in German products for this development, but there are further factors to consider. Michelin, which plans to close several plants within the country, suggests…

Bridgestone Announces Closure of Shenyang TBR Tyre Plant in China

All, General Industry News, NewsFebruary 12, 2024361Views 0Likes 0Comments

As rubber prices are poised to continue their upward trajectory, tire companies are dealing with increased production costs. Coupled with recent environmental policies leading to production suspensions and reductions, the industry faces a complicated landscape. Dealers and tire shop owners are advised to closely monitor market trends, make informed decisions, and stay attuned to possible…

EU Antitrust Regulators Raid Pirelli, Continental, Michelin, and Nokian in Cartel Investigation, Prompting Share Declines

All, Market & Trade Trends, NewsFebruary 1, 2024741Views 0Likes 0Comments

In a major move, EU antitrust regulators conducted surprise raids on tyre industry leaders Pirelli, Continental, Michelin, and Nokian, triggering a notable decline in their shares. The European Commission, responsible for imposing competition rules in the EU, revealed the investigation without disclosing specifics in line with its usual protocol. Pirelli, maintaining its innocence, assured full…