Leading News Stories Beyond the Headlines

Mobilitas Solidifies Leadership Position at 50 Years!

Paris-headquartered Mobilitas, the parent company of IAM member’s AGS and Santa Fe Relocation, have released a powerful video celebrating their 50th anniversary and a message to staff that the company is focused on consolidating its leading market position.

This video from Mobilitas, dedicated to the memory of Issac Ta?eb and narrated in parts by his wife and co-founder Sarah, charts the humble beginnings of AGS in 1975, using funds that she set aside without telling her husband. Over time, family members would join the business, including the current Chairman, Alain TAIEB , and Chief Executive Officer, Cédric Castro .

The video highlights the geographic expansion of the company over five decades to its 380 locations today, beginning in the French Overseas Territories, then in Europe, Africa, Asia, and the Middle East, as well as the diversification of services into records management and more recently digitization and preservation of works of art and documents. “I believe that no company is static, all businesses grow, you cannot remain as you are,” said Alain Ta?eb in the video.

In a letter thanking their 4,950 employees and shared by the company with IAM, Ta?eb said that future strategy will focus on consolidation and talent. "The next 50 years won't necessarily see us establishing ourselves in many more countries. There will be a few more, but that's not the essential part of our trajectory. Solidifying and consolidating our operations throughout our international footprint will take decades of work. Recruiting, training and promoting a large number of managers and employees remains an essential pillar of the group. Over and above its 50 years of existence, our group is a veritable breeding ground for talent - talented individuals who we need to attract, retain, and promote in all positions and at all levels of responsibility,” he wrote.

U.S. Home Sales Fell to Lowest Level in Three Decades

The depth of the challenges faced by the domestic moving industry in the United States was brought into sharp focus last week, with news that home sales fell to their lowest level for nearly 30 years in 2024.

The Wall Street Journal reported that the National Association of Realtors (NAR) said existing-home sales fell 0.7% last year to 4.06 million. However, offering some encouragement to the industry, homes sales increased in December for the third straight month. Across the nation, there were 1.15 million homes for sale or under contract at the end of December, up 16.2% from December 2023. “This could be a sign that buyers and sellers may be coming to terms with a higher interest rate environment,” said Priscilla Thiagamoorthy of BMO Capital Markets.

However, the prospects for the housing market in 2025 remain uncertain. Despite three cuts in short-term interest rates, mortgage rates have increased in recent months, exceeding 7% last week, and rising home prices have continued to impact affordability. “Inventory is increasing—that brings people into the market,” said Leo Pareja, Chief Executive of brokerage eXp Realty. “We think that existing-home sales will marginally increase,” this year, he added.

Freight Rates Could Fall by 25%

The return of shipping to the Red Sea could see freight prices "come crashing down", according to a leader of ports owner and logistics company, DP World.?

Reuters reported that the Deputy CEO of DP World, Yuvraj Narayan, made the comments during the World Economic Forum in Davos and said that sea freight rates could drop "at least 20%, 25%" and that the fall could happen over two to three months. Narayan’s comments follow the news reported in last week’s IAM ePortal that Yemen's Houthis will not attack on commercial vessels, unless they have links to Israel.

?Narayan said that the conflict had tied up at least 30% more capacity than usual and that freight rates are expected to reduce as more traffic returns to the shorter route via the Red Sea and Suez Canal.

In terms of their own expansion, Narayan said that the Dubai-headquartered port owner is working on investment at London Gateway. As the size of vessels increases, "we have the greatest possible location right now," he stated. "We're going to do a complete build-up of London Gateway ...that was always our strategy." The company also see opportunity on the east and west coasts of Africa.

"I think there's massive potential there because there's nothing available ...and the cost of moving cargo in Africa is so high that it just makes sense," said Narayan.

Millionaires Move from the United Kingdom

It may be “rich pickings” for the international moving industry in the United Kingdom as an analytics firm estimated that 10,000 millionaires moved from the country last year.

The Daily Telegraph reported that figures equate to one millionaire leaving every 45 minutes in a significant exodus, compared to the prior year’s figure of 4,300 departures, according to figures compiled by analytics firm, New World Wealth, for advisors Henley & Partners. China was highlighted as the only country with a greater loss of wealthy people. The New World Wealth report said that 78 centi-millionaires (assets of 100 million) and 12 billionaires left the United Kingdom last year.

Critics have blamed the government for tax policies that impact “non-doms”, a person living in the United Kingdom, considered under British law to have a permanent home in another country. “It appears that (government) decisions have been made not based on the evidence but based on ideology. It’s a real worry because more and more people are leaving. And its businesses, jobs, investment, spending into the economy and tax take and philanthropy that are hit,” said David Hawkins of Foreign Investors for Britain.

Italy, which has a more attractive tax rate for non-doms, Switzerland, United Arab Emirates, the United States, and Singapore, are said to be popular destinations.

Police Investigate Singapore Moving Company

Singapore police are reported to be investigating international moving company, Moovaz, after complaints that the firm failed to deliver customers' shipments.

News website CNA reported that numerous Moovaz customers say that they have been contacted by subcontractors demanding additional payments to release their personal effects, after previously paying the business for a door-to-door move. The Consumers Association of Singapore confirmed to CNA that it had received 22 complaints against Moovaz in the past year, with losses amounting to about S$80,000.

The website said that they had interviewed seven customers who contracted international moves with Moovaz with complaints. One customer that moved to London in October said that the destination agent in the United Kingdom had contacted them to say that Moovaz had not paid them, with their household goods remaining in their warehouse, incurring storage costs.

Moovaz CEO Vishnu Vasudeven said the company remains operational but was severely affected by rising freight costs as a result of the crisis in the Red Sea. "We are in the midst of arranging funds to pay the vendors," said Vasudeven. "I know what's happening because every day I get a lot of threats on police, debt collectors and news or social media. We are trying our best to sort it out, I believe everything will be sorted by mid-next month," he added.

Moovaz is no longer affiliated with IAM, as their membership was canceled in 2023 for non-payment of dues. Despite this, they are falsely advertising the IAM name and logo on their website and marketing materials.?Members are strongly encouraged to regularly check the IAMX directory to verify IAM membership status. Additionally, reviewing the Company Alerts & Alleged Debtors List?provides valuable insight into a company's standing.

IAM was notified on January 23, 2025, that Eagle Relocations Limited in Watford, UK is insolvent and no longer operational. The UK Government’s Companies House has verified that Eagle is undertaking voluntary liquidation and commenced winding up its operation on January 16, 2025.?

For further information, please visit IAM's Company Alerts & Alleged Debtors?page.?

Shipping Line Reliability Falls in Q4

Industrial action and the Red Sea crisis led to another decline in shipping schedule reliability in the final quarter of 2024, but there are signs of improvement.

The Loadstar reported on the Schedule Reliability Scorecard published by eeSea, that showed average delays reached 4.8 days globally in Q4, up from the previous quarters’ 4.5 days. The final months of 2024 were “rife with challenges, and it shows”, said eeSea, pointing out that strikes at Canada’s west coast ports of Vancouver and Prince Rupert impacted transpacific trade with a decline of 1.6 days. “While still comfortably shy of the worst global delays of 7.7 days during the peak Covid years, 2024 delay averages for each quarter sit firmly in the early-mid 2021 range of between four and five days,” said eeSea.

In terms of individual shipping liner performance, Maersk retained its title as the most reliable carrier, with an average delay of 2.4 days, followed by CMA CGM at 3.6 days, Cosco at four days, and Hapag-Lloyd at 4.7 days.

Behind the Badge

IAM goes behind the conference badge to learn some fun facts about some of the personalities that make up the IAM member community.

Boris Populoh

Name: Boris Populoh – Core Members Representative, IAM Executive Committee

Company: UNIRISC

Texting or talking? Talking – most of the time.

Favorite city? Singapore.

Nickname your parents used to call you? BooBoo.

Your favorite playlist on Spotify? CHILL EDM.

Sunrise or Sunset? Sunset + Beach + Red Stripe Lager.

If you could travel back in time, what period would you go to? I think I would have to choose Marco Polo’s time in Asia and his relationship with Kublai Khan. Marco Polo’s journey from Europe to meet Kublai Kahn took nearly 4 years.

Do you believe in fate? No - nothing is predetermined!

What's for dinner tonight? Singapore Chili Crab.

What's your favorite car? Porsche 911 GTR 3 RS.

What’s something you could eat for a week straight? Sushi.

Would you go to a movie alone? Yes – I used to when I was young – for an entire day sometimes.

What’s the most boring thing ever? Very controversial… Golf… possibly Baseball.

What’s the best advice you’ve ever received? Don’t ever utter the words “that is not part of my job description”.

IAM In Action

IAM Needs Your Input!

In the coming weeks, IAM is conducting an Industry Needs Survey to help us deliver value tailored to your needs and create the best possible member experience for you and your company.

Your input will directly influence IAM’s future initiatives, training resources, ?and our ability to address industry challenges.

The survey, conducted by Scarlet Oak Consulting, is quick and easy, taking 15 minutes of your time or less. Your input will directly influence the future of IAM.

Watch your inbox over the coming weeks for your invitation to participate!

Contribute to the Portal Magazine!

Navigating the Challenges Ahead: Strategies for Resilience? The moving industry faces another challenging year, with pressures on sales, cash flow, and operational efficiency top of mind. The March/April issue of the Portal magazine will focus on practical strategies to help members strengthen their businesses.

We are seeking authors who will share their actionable insights to help companies survive and thrive in 2025, from leveraging IAM’s resources to optimizing operations and networking for growth.

Here are some example topics for you to consider for your Portal contribution: ?

• What strategies or tools have you implemented to improve operational efficiency in the face of rising industry challenges?
• How has your company adapted its sales and marketing approach to maintain or grow revenue in this competitive landscape?
• What steps have you taken to manage cash flow effectively during uncertain economic conditions, and what advice would you give to other members?
• How have IAM resources, such as the Receivable Protection Program (RPP), the Annual Meeting, or IAM Mobility Exchange (IAMX), supported your business in navigating industry disruptions?

The submission deadline is Tuesday, February 25. Contributions will be published in our March/April 2025 issue.

Please familiarize yourself with our Submission Guidelines for magazine contributions, including writing tips to help get you started, to ensure your contribution meets standards for content and length.

Send your article and any questions to Will Kohudic at [email protected]. We look forward to hearing from you!

On the Move

Robin Licata Joins Champion

Pittsburgh-headquartered IAMX Validated member Champion International Moving, Ltd has announced the appointment of Robin Licata as Director of Government Services.

In a social media post, Champion said that Licata has worked in government services for most of her career at well-respected household good companies in the Washington D.C. area and will be responsible for directing the Government Services Division.

“We are thrilled to have her join our team and are confident that she will make a big impact at Champion,” said the company.

Upcoming Industry Events

Is your calendar up to date? See IAM's Events Calendar to stay abreast of the various conferences and industry meetings. Want to add an event? Contact IAM's Charles Stewart .