WEEKLY MARKET UPDATE 03/28/2024
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This newsletter's summary
Figure of the week
13%
Houthi rebel attacks in the Red Sea and increased piracy off Somalia are disrupting global trade. In 2023, these regions saw 13% of global seaborne trade, but now ship navigation has dropped by 50%.
Quote of the week
“Efficient logistics is the key to success in today's interconnected world.”
?-Sundar Pichai.
?CMA CGM updates rates from Asia to North Europe
CMA CGM?has announced new Freight All Kinds (FAK) rates effective from April 1, 2024. These updated rates apply to shipments originating from all Asian ports, including Japan, Southeast Asia, and Bangladesh, and destined for all North European ports, encompassing the United Kingdom and the entire range from Portugal to Finland/Estonia.
The revised rates cover various types of cargo, including Dry, OOG (Out of Gauge), paying empties, and Reefer. They will be applicable from April 1, 2024, (date of loading at the origin ports) until further notice.
The rates are as follows:
Success Expands: FedEx Deactivates 17 Aircraft for Cost Control
FedEx's recent adjustments in the air freight sector, including the grounding of aircraft and the relinquishment of Boeing 767 options, demonstrate a focused effort to manage costs amidst subdued demand. These measures align with the broader DRIVE campaign, aimed at enhancing efficiency and reducing expenses across operations.
Despite short-term challenges, FedEx remains committed to modernizing its fleet and optimizing routes to drive long-term sustainability and competitiveness. The company's integrated approach to air and ground operations, exemplified by the consolidation of Express, Ground, and Freight operating companies, positions it for strategic growth and improved customer service. Ongoing negotiations with the U.S. Postal Service underscore the significance of partnerships in shaping the future of air freight logistics.
FedEx's actions serve as a bellwether for industry trends, highlighting the importance of adaptability in navigating evolving market dynamics.
Weekly logistics trivia
领英推荐
John W. Brown Born in 1803, Brown was an American entrepreneur and innovator in the field of river navigation.
John W. Brown?had several?logistics strategies and characteristics, such as:
The "Clermont," powered by an innovative steam engine design, marked the dawn of commercially successful steamships with its inaugural voyage from New York to Albany in 1807. This groundbreaking achievement showcased the potential of steamboats for both passenger and cargo transport?over long distances, revolutionizing river transportation.
Fret SNCF and EQIOM: Biofuel-Powered Freight Train Trial
Fret SNCF has launched a trial of France's first freight train powered solely by HVO100, a biofuel derived from vegetable oils and recycled fats, in collaboration with EQIOM, a CRH Company.
This initiative aims to significantly reduce CO2 emissions. Fret SNCF is renowned for its low carbon footprint, with electric locomotives?accounting for nearly 90%?of its ton-kilometers transported in France. Through this partnership, EQIOM has reported a reduction of over?8,500 tons?in greenhouse gas emissions in 2023 compared to diesel road transport.
The adoption of HVO100 biofuel in thermal locomotives represents a significant step for EQIOM towards sustainable logistics, aligning with its commitment to greener supply chain solutions. Rail freight enables EQIOM to optimize transport volumes, especially for its Aggregates business, with one wagon equivalent to the capacity of 2.2 trucks.
Customs & Regulations
The International Federation of Freight Forwarders Associations (FIATA) and the Global Shippers Forum (GSF) are advocating for improved data quality?and information exchange ahead of the European Union's new Import Control System?2 (ICS2).
This system, expanding to cover sea, road, and rail transport by 2024 and 2025, aims to enhance EU security authorities' insight into incoming freight. Originally applied to airfreight, mail, and express parcel shipments in 2023, the extension of ICS2?underscores the necessity for effective collaboration between shippers and freight forwarders. FIATA and GSF have issued a joint Guidance Note, stressing the importance of this partnership in ensuring timely and accurate submission of high-quality information.
With ICS2's broader coverage, including all shipments from third countries by any mode, it's crucial for shippers and forwarders to provide detailed Entry Summary Declarations. Failure to comply with the new notification requirements may result in delays and enforcement actions by EU authorities, as carriers assume legal responsibility for the data accuracy and completeness under the revised regulations.
???Until Next Week
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