Ranon Weekly Newsletter: Hope for Uptick Fragile but Resilient, Carriers subdued

CEO’s Notes: Hope for Uptick Fragile but Resilient, Carriers subdued

On the economic front, European shares rallied, propelled by healthcare gains, while miners and energy sectors felt the weight of China's property sector concerns. In similar winds, the NY Fed's survey hints at a broader cooling in inflation expectations among Americans, aligning with their evolving views on personal finances. Across the ocean, Nigeria's central bank readies impactful moves, aiming to reshape FX markets and enhance dollar liquidity.

Amidst the complexities, filled-up warehouses signal extended lean times for US and European firms, grappling with sluggish demand that dampens growth prospects. In Asia, Typhoon Lan disrupts Japan's logistics landscape, underscoring operational vulnerabilities.

In the maritime arena, CMA CGM's trajectory positions it to surpass Maersk in TEU capacity, reshaping container carrier dynamics. Contrasting this, Maersk's warning of dwindling demand echoes through a 40% revenue plunge, attributed to muted global growth and inventory reductions. The Teamsters union advocates for US bankruptcy reform, catalyzed by Yellow's collapse, highlighting the need to safeguard workers during corporate turbulence.

Weekly Highlights

European shares gain on healthcare boost; miners, energy lag

Nigeria central bank to make moves impacting FX markets in days

CMA CGM on track to overtake Maersk in TEU capacity

Maersk warns of declining demand as revenue plunges by 40%

Economic News

European shares gain on healthcare boost; miners, energy lag

European shares closed higher on Monday, rebounding from a near one-week low, as gains in retail and healthcare outpaced the fall in miners and energy, both bruised by concerns over China's embattled property sector...?Read more

NY Fed survey finds broad cooling in inflation expectations

Americans said last month they expected weaker inflation over the next few years, and they also marked up their own views of their personal financial situations, according to a survey released on Monday by the New York Federal Reserve...?Read more

Nigeria central bank to make moves impacting FX markets in days

Nigeria's central bank plans to take measures that will impact currency markets in a few days time, its acting governor said on Monday, after meeting President Bola Tinubu to discuss ways to improve dollar liquidity on the official market...?Read more

Bulging warehouses mean lean times for longer for US, European companies

Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling. Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth....?Read more

Industry News

Japan Logistics Firms, Retailers to Halt Services over Typhoon

Logistics companies and retailers in Japan will suspend services in western and central Japan on Tuesday, as heavy rain and strong winds are expected from Typhoon Lan...?Read more

CMA CGM on track to overtake Maersk in TEU capacity

French ocean carrier CMA CGM is on track to overcome the Danish shipping company and become the second-largest container carrier in terms of vessel container capacity...?Read more

Maersk warns of declining demand as revenue plunges by 40%

A.P. Moller-Maersk has reported a drop of 40% in its second quarter revenue, even as it warned of a steeper decline in global demand for shipping containers by sea this year. The shipping giant said the drop in demand is prompted by muted economic growth and customers reducing inventories.....?Read more

Teamsters union pushes for US bankruptcy reform after Yellow's collapse

The International Brotherhood of Teamsters on Tuesday called for changes to U.S. bankruptcy laws following the Chapter 11 filing of freight trucking company Yellow Corp (YELL.O), saying that workers must not be "left behind" when big businesses fail...?Read more