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Business Times
4 days ago
- Business
- Business Times
Singapore SMEs can tap Japanese technology for innovative solutions
[SINGAPORE] Small and medium-sized enterprises (SMEs) can work with Japanese giants to find applications for innovative technology or develop new solutions together, under an initiative that is now in its second year. The second Japanese Corporates Technology Innovation (JCTI) Launchpad networking event on Thursday (May 29) featured six Japanese multinational corporations (MNCs) – one more than the inaugural event in 2024. Returning for a second year are electronics manufacturers Ricoh, Panasonic and Nisshinbo; Mitsui Chemicals; and packaging maker Toyo Seikan Group. They are joined by adhesive maker Nitto Denko, which is seeking partners for a stress-monitoring smart watch. Nitto Denko was one of four participants showcasing 'co-development-ready' technology and intellectual property (IP) – innovations that have been developed but need to be tested or applied. The companies are therefore seeking Singapore SMEs as proof-of-concept partners. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up Nisshinbo and Toyo Seikan did not give details of specific technologies, but attended to network with local SMEs and seek potential partnerships. Since the JCTI Launchpad began last year, eight projects have been formed across sectors such as sustainability, chemicals and communications. Matching innovation and application The JCTI Launchpad event this year is organised by Enterprise Singapore subsidiary Innovation Partner for Impact (IPI), the Japan External Trade Organization (Jetro) and business consulting firm N9. It aims to match advanced technologies from Japan with Singapore companies who can put them to good use. In a media release, the organisers noted that Japan has a wealth of IP, yet many corporate technologies are underutilised – while Singaporean companies and startups are looking for unique technologies but face challenges in adapting and accessing them. Under the JCTI Launchpad, Singapore SMEs can license or source technology from the MNCs, or work together to co-develop solutions. 'It is heartening that our Japanese partners are generous with sharing their technologies and know-how with our local SMEs,' said IPI chief operating officer Michael Goh. 'The beauty of working with diverse corporations across different industries is the diverse types of technologies our SMEs can access,' he added. IPI helps local SMEs collaborate with technology providers, research institutions, and other companies. For example, local water treatment supplier Bioflux is partnering Panasonic to develop a coating that prevents algae and scale from forming on cooling towers and chillers. Bioflux managing director Michael Ng said: 'As Panasonic is a huge company, we hope this collaboration will allow us to work more closely with them and develop better water treatment services for Singapore.' Nitto Denko's senior business development manager Sugihara Takaya noted that the technology in Singapore 'is more mature and comfortable to work with', adding: 'We hope that Singapore can be a stepping stone for us to reach out to other regions in the future.' The company has embedded optical sensors and 3-axis acceleration sensors into a wristwatch, allowing it to track the wearer's stress level. It is looking for partners that can either diversify the type of wearable devices using this technology; diversify algorithms to enhance the application of data; or expand business channels in healthcare across Asia, the US and Europe.
Fibre2Fashion
22-05-2025
- Business
- Fibre2Fashion
US imports to surge amid temporary China tariff relief: ITS Logistics
Confirming earlier projections of a steep decline in imports following tariff increases on Chinese goods, ITS Logistics has released the May forecast for its US Port/Rail Ramp Freight Index. The index also highlights growing operational stress at rail ramps in key regions, as shippers redirect front-loaded inventory through interior point intermodal (IPI) routes. Compounding these challenges, cargo theft at rail interchange points is emerging as a serious concern for shippers and logistics providers heading into 2025. Recently, trade officials announced that the US and China agreed to a temporary tariff reduction, with the US lowering tariffs from 145 per cent to 30 per cent and China lowering its tariffs on US goods to 10 per cent from 125 per cent. With the new rates officially in place for the next 90 days, shippers are eager to restart imports, replenish inventories, and prepare for upcoming holiday seasons. The sudden surge in demand and uncertainty surrounding long-term availability of Chinese imports has the potential to spur another frontloading event that drives an early start to peak season for businesses in key industries like retail, the company said in a press release. 'I have clients with thousands of containers pre-loaded in China that is ready to come in,' said Paul Brashier, vice president of global supply chain at ITS Logistics . Over the next four to six weeks, Brashier said he expects a surge of containers, calling the 90-day pause 'the pivotal moment for supply chain planning out of China.' ITS Logistics' May forecast confirms a sharp import decline due to China tariffs, but a temporary 90-day reduction is expected to trigger a surge in shipments and an early peak season. Shippers face growing rail congestion, equipment shortages, and rising cargo theft. The index tracks port and rail activity across key US regions, offering insights into supply chain disruptions and capacity trends. 'Shippers should be prepared to increase trucking and equipment capacity immediately to ensure they can withstand volatility and get their goods to market on time,' Brashier continued. Adding to emerging market challenges, industry experts are reporting a surge in cargo theft. Criminal networks in the US and internationally are exploiting weaknesses in current supply chain systems, as well as technology intended to improve overall efficiency, to steal freight. 'Using IPI offers more storage elasticity and allows shippers to avoid 3PL storage fees on front-loaded inventories,' Brashier explained. 'However, chassis availability and congested ramp operations are becoming more frequent, and theft at interchanges between rail providers is a serious ongoing concern.' Amid industry professionals seeking ways to best navigate the current supply chain disruptions, ITS advised companies to prepare for an early kick-off to peak season that lasts through Q3. Additionally, as the supply chain industry enters Q4, tax policy, deregulation, and federal reserve policy could spur economic growth that drives higher year-over-year volumes. ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfilment services to 95 per cent of the US population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omni-channel distribution and fulfilment, LTL, and outbound small parcel. The ITS Logistics US Port/Rail Ramp Freight Index forecasts port container and dray operations for the Pacific, Atlantic, and Gulf regions. Ocean and domestic container rail ramp operations are also highlighted in the index for both the West Inland and East Inland regions. Fibre2Fashion News Desk (RR)
Yahoo
15-05-2025
- Business
- Yahoo
ITS Logistics May Port Rail Ramp Index: Heavy Import Volumes and Pent-up Demand from China Set to Pull Forward Peak Retail Season and Cause Transportation Challenges for U.S.
--The anticipated disruptions and capacity challenges compound the fraud crisis plaguing cargo and freight operations. -- ITS Logistics May Port Rail Ramp Index RENO, Nev., May 15, 2025 (GLOBE NEWSWIRE) -- ITS Logistics today released the May forecast for the ITS Logistics US Port/Rail Ramp Freight Index. This month's index confirmed the previous projections of a steep import drop-off following tariff increases on Chinese goods. In addition, rail ramps in key regions are experiencing operational stress as shippers redirect front-loaded inventory to interior point intermodal (IPI) routing, all while cargo theft at rail interchange points shows distressing trends for shippers and providers in 2025. On Monday, trade officials announced that the U.S. and China agreed to a temporary tariff reduction, with the U.S. lowering tariffs from 145% to 30% and China lowering its tariffs on U.S. goods to 10% from 125%. With the new rates officially in place for the next 90 days, shippers are eager to restart imports, replenish inventories, and prepare for upcoming holiday seasons. The sudden surge in demand and uncertainty surrounding long-term availability of Chinese imports has the potential to spur another frontloading event that drives an early start to peak season for businesses in key industries like retail. 'I have clients with thousands of containers pre-loaded in China that is ready to come in,' said Paul Brashier, Vice President of Global Supply Chain at ITS Logistics. Over the next four to six weeks, Brashier says he expects a surge of containers, calling the 90-day pause 'the pivotal moment for supply chain planning out of China.' Brashier continued, 'Shippers should be prepared to increase trucking and equipment capacity immediately to ensure they can withstand volatility and get their goods to market on time.' Adding to emerging market challenges, industry experts are reporting a surge in cargo theft. Criminal networks in the U.S. and internationally are exploiting weaknesses in current supply chain systems, as well as technology intended to improve overall efficiency, to steal freight. CNBC recently reported industry-wide losses estimated to be close to $1 billion or more a year. A leader in fraud prevention solutions, Highway, cited in its quarterly Freight Fraud Index that the company blocked more than 914,000 fraud attempts in 2024, and over 400,000 were blocked in Q1 of 2025 alone. Additionally, the Association of American Railroads (AAR) data showed a 40% year-over-year increase in container theft incidents in 2024. In the months preceding the April tariff announcement, shippers turned to IPI to move front-loaded goods away from congested ports — only to create new chokepoints at inland rail ramps, where cargo theft is now surging. This is occurring as industry stakeholders demand federal intervention as the current freight fraud crisis escalates, leaving vulnerable supply chains at risk. 'Using IPI offers more storage elasticity and allows shippers to avoid 3PL storage fees on front-loaded inventories,' Brashier explained. 'However, chassis availability and congested ramp operations are becoming more frequent, and theft at interchanges between rail providers is a serious ongoing concern.' Amid industry professionals seeking ways to best navigate the current supply chain disruptions, ITS advises companies to prepare for an early kick-off to peak season that lasts through Q3. Additionally, as the supply chain industry enters Q4, tax policy, deregulation, and federal reserve policy could spur economic growth that drives higher year-over-year (YOY) volumes. ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, LTL, and outbound small ITS Logistics US Port/Rail Ramp Freight Index forecasts port container and dray operations for the Pacific, Atlantic, and Gulf regions. Ocean and domestic container rail ramp operations are also highlighted in the index for both the West Inland and East Inland regions. Visit here for a full comprehensive copy of the index with expected forecasts for the U.S. port and rail ramps. About ITS LogisticsITS Logistics is one of North America's fastest-growing, asset-based modern 3PLs, providing solutions for the industry's most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America's #18 asset-lite freight brokerage, the #12 drayage and intermodal solution, an asset-based dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network. Media ContactAmber GoodLeadCoverageamber@ A photo accompanying this announcement is available at in to access your portfolio
CairoScene
14-05-2025
- Business
- CairoScene
Saudi Industrial Output Rises 2% in March, Driven by Manufacturing
Non-oil industries grew 5.6% in March, with strong performance in chemicals, food, and electrical equipment, while utilities saw mixed results. Saudi Arabia's Industrial Production Index (IPI) rose by 2% year-on-year in March 2025, reaching 106.5, according to preliminary data from the General Authority for Statistics. The increase was primarily driven by strong growth in the manufacturing sector, reflecting the Kingdom's ongoing push to diversify its economy beyond oil. Month-on-month, the index also saw a 1.1% rise from February's figure of 105.4. Manufacturing posted a 5.1% annual increase, led by a 14.3% surge in chemical production and a 6.9% uptick in food manufacturing—both seen as cornerstone industries in Saudi Arabia's industrial strategy. The non-oil industrial sectors grew 5.6% compared to March 2024 and 3.3% from the previous month. Electrical equipment and paper products recorded notable gains, while output in basic metals and furniture declined. Meanwhile, utilities showed a mixed picture: water supply and waste management jumped 15%, while electricity and gas saw a decline. Mining and oil extraction—the largest components of the IPI—fell marginally by 0.2% year-on-year, underscoring the shifting weight toward non-oil industries. Oil-related activities edged up just 0.5%, reinforcing the broader economic transformation underway. The latest data reflects progress under Saudi Arabia's Vision 2030 plan, which aims to reduce the Kingdom's dependence on hydrocarbons by expanding the industrial and manufacturing base. With non-oil sectors continuing to outperform, the Kingdom is increasingly positioning itself as a regional hub for diversified industrial growth.
CairoScene
13-05-2025
- Business
- CairoScene
Saudi Industrial Output Increases by 2% in March
Non-oil sectors grew 5.6% YoY, with gains in electrical equipment and paper, while basic metals and furniture fell. Water supply rose 15%, but electricity and gas dropped. Saudi Arabia's industrial production index (IPI) rose by 2% year-on-year in March 2025, driven by solid growth in the manufacturing sector, particularly chemicals and food, according to preliminary data from the General Authority for Statistics. The IPI reached 106.5 in March, up from 105.4 in February—a 1.1% monthly increase. The manufacturing sub-index grew 5.1% compared to March 2024, led by a 14.3% rise in chemical production and a 6.9% increase in food manufacturing. Moreover, Saudi Arabia's Industrial Production Index (IPI) rose 2% year-on-year in March 2025, reaching 106.5. Manufacturing led the increase, with a 5.1% rise, driven by strong growth in chemicals and food production. Mining and oil extraction dipped slightly, down 0.2% from March 2024. Non-oil sectors grew 5.6% year-on-year and 3.3% month-on-month, with mixed results across industries. Electrical equipment and paper products saw gains, while basic metals and furniture production fell. Utilities showed mixed results: water supply and waste management surged 15%, while electricity and gas dropped. The data reflects continued growth in the Kingdom's non-oil industrial sectors, with non-oil activities expanding 5.6% year-on-year, while oil-related activities saw a 0.5% increase, aligning with Vision 2030's economic diversification goals.
