Hanjin Shipping Files Bankruptcy

Hanjin Shipping, the largest Steam Ship Line in Korea, filed for bankruptcy court protection after their liquidity plan submitted to Korea Development Bank was rejected on August 26th. Below is a quick recap of what happened, what will happen moving forward and what you need to know:

G20 Summit Kicks Off In Hangzhou China This Weekend

The G-20 or (Group of Twenty) is an forum for the leaders from 20 major economies to study, review, and promote high-level discussion of policy issues pertaining to the promotion of international financial stability.  The members include 19 individual countries along with the EU. The G20 countries represent about 70% of the world’s

Asia Manufacturing Cost Drivers Report – 7/16

In regards to Asia Manufacturing Cost Drivers, July saw a couple tracked commodities post large increases in price. The largest being Cotton, posting a 17% gain since last month’s report. Nickel also saw big gains of over 10%. General Plastics were mainly down slightly, while Engineered Plastics remained steady. Steel & Iron prices were mainly up, in many cases

Source International 2016 Summer Party

The Source International 2016 Summer Party was held on July 22, 2016 at GuanYin Shan Beach in beautiful Xiamen, China. The party was held in order to show appreciation for all Xiamen employee’s hard work so far in 2016. Through the diligent efforts of everyone in the Source International Xiamen office, we have been able to continue to provide clients with

SourceDirect ASD – Sourcing Seminars

Please come join Source International Managing Partner & COO, Mr. Jim Ullum, at the SourceDirect Show at ASD from July 31 to August 3, 2016 at the Las Vegas Convention Center – North Hall in fabulous Las Vegas, Nevada. Mr. Ullum will be presenting on effective negotiation when sourcing, best sourcing practices in China, and sourcing in low-cost countries throughout Asia.

Asia Manufacturing Cost Drivers – 6/16

General Plastic prices were mainly flat in June. General Purpose PP varieties, Food Grade PP, and PVC saw no changes whatsoever in asking price. General Purpose PS, High Impact PS, and PET all saw increases of around 2%, while HDPE decreased by nearly 3%. Prices continue to be a mixed bag year over year with half our tracked

Libbey Glass to Expand Via New Product Offerings

It was reported in the Toledo Blade on June 26, 2016 that one of Source International’s valued clients, world renowned glassware manufacturer/provider Libbey Glass, is set to expand their business via a new initiative to reposition its focus as a more consumer-oriented firm. The new initiative,

Manufacturing Trends in Myanmar

As labor and other related manufacturing costs continue to rise in traditional Asian production powerhouses such as China, many firms are looking for new ways to reduce overhead and increase their bottom line. Relocation to Southeast Asian countries such as Vietnam and Thailand has been happening for quite some time; however, until now, Myanmar has

Asia Manufacturing Cost Drivers – 5/16

General Plastic prices were some of the only commodities to see an increase in the month of May. General Purpose PP prices increased 3% for the month and continued an upward trend over the past six months approaching a nearly 33% increase. PET and General Purpose PS prices also saw increases of 2% and 0.9%, respectively.

Asia Manufacturing Cost Drivers – 4/16

General Plastic prices saw a decrease in price for most varieties in April with the exception of General Purpose PP and PET which increased 3.6% and 2%, respectively. The biggest decline in plastics pricing was seen in High Impact PS, while Food Grade and HDPE varieties remained flat. Year over year, prices are a mixed bag with half our tracked

Asia Manufacturing Cost Drivers – 3/16

General Purpose Plastic resin prices were up by over 10% on average in March, led by GP-PP which was up close to 23%, meanwhile, Food Grade PP & PET conversely moved down slightly. Year-over-year, most prices are still significantly lower on average by over 9% , led by Food Grade PP down by over 23%, and PS prices down by 13%

Five Best Practices For Buying In China

To be successful buying in China there are some key practices that are critical to drive good purchasing decisions. With a highly developed infrastructure and the most diverse availability of raw materials in Asia, China is likely to remain a primary manufacturing center for all types of products for years to come.

Asia Manufacturing Cost Drivers – 2/16

General Purpose Plastic resin prices were mixed in February with General Purpose PS & High Impact PS up sharply in price by over 11% while HDPE & PET conversely moved down by 6% & 4% respectively. Meanwhile, most other GP resins prices were unchanged. Year-over-year, most prices are still significantly lower on average by over

Asia Manufacturing Cost Drivers Report- 1/16

Asia manufacturing cost driver prices showed mixed trends in the first month of 2016. Plastics were up mostly in price while rubber prices continued to drop. Carbon steel & stainless grades were mixed while Aluminum and other metals were most down while wood, paper, ceramics, labor, freight and textiles were mostly unchanged.

Source International Wins 2015 Outstanding Vendor Award

Libbey (LBY) the No. 1 glassware company in the Americas and one of the largest tableware suppliers in the world celebrated Source International with their 2015 Outstanding Vendor Award. Michael Bunge the Libbey Director of Global Sourcing presented the award to the Source-Libbey Team at the Source International annual banquet held at the Weston

Source International To Host ASD Source Direct Show Seminars

SourceDirect at ASD is the premier wholesale trade show for sourcing professionals around the world and a top destination for Importers, Distributors, Wholesale Manufacturers, and Product Development companies globally. Buyers come the ASD Source Direct Show to source the products they need from suppliers around the world.