Rising ocean freight rates pose a growing threat to Korea’s top three tire manufacturers – Hankook Tire, Kumho Tire and Nexen Tire – as their business structure relies heavily on exports, according to data and industry officials.

Amplifying jitters, the global freight index shows few signs of stabilizing amid ongoing geopolitical tensions near the Red Sea and in the Middle East. The Shanghai Containerized Freight Index (SCFI), a key barometer of container freight rates worldwide, soared to over 2,700 for the first time since September 2022.

Apollo Tires (US) Inc. (Apollo Tires) is recalling certain Vredestein Hitrac, Quatrac, and Quatrac Pro+ tires. A contaminated compound may cause the steel belts to separate.

In the Rubber Solutions segment, net sales for Q1 2024 decreased by 3.1% to $65,469, from $67,556 in Q1 2023. Volume was up 2.3% with increases in several sectors due to increased momentum in the mining and industrial sectors especially towards the end of the quarter. Tolling volume was down 23.2% while non-tolling volume was up 3.6%.  Gross profit at Rubber Solutions for Q1 2024 increased by 27.9% to $11,033, from $8,625 in Q1 2023. The increase in gross profit was primarily the result of volume increases and product mix in addition to managing controllable overhead costs including additional overhead reductions and continuous improvement initiatives.

The major players in Global Hydraulic Rubber Hose Market are Koman Hydraulic, Eaton Corporation (Synflex), Kurt Manufacturing, Parker Hannifin, Transfer Oil S.p.A., Piranha Hose Products, Manuli Rubber Industries, HIC International, Gates, RYCO Hydraulics, and Polyhouse India among.

Trelleborg Sealing Solutions announces the launch of its Innovation Center in Plymouth, Minnesota, US, providing its global industrial customers with a single partner for design, rapid prototyping, development and serial production, ensuring cost control and scalability of customers’ solutions.
Trelleborg created the Innovation Center to accelerate customers’ time to market, reduce the production cost of parts already in market and improve the transition from design to serial production. With increased capabilities, the Innovation Center is a dedicated space with personnel possessing decades of combined experience. It enables customers to work with design, materials, and quality experts throughout the entire life cycle of a project.

he Goodyear Tire & Rubber Company announced the planned retirement of Senior Vice President and Chief Human Resources Officer Gary VanderLind and the appointment of Nicole Gray as his replacement, effective July 1, 2024.