WEEKLY MARKET UPDATE 05/09/2024
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This newsletter's summary
Figure of the week
1 300 000 000 €?Is the first quarter airfreight revenue in the Global Freight Forwarding
Quote of the week
“Effective logistics is directly related to organizational success.”
?-John T.Mentzer
Huge Efforts to reduce sea freight rates
Vietnamese shippers are currently contending with a complex landscape marked by escalating sea freight rates?and arbitrary surcharge increases by shipping lines. Predicting sea freight rates has proven challenging, with recent spikes attributed to various factors, including disruptions caused by the Covid-19 pandemic?and armed conflicts?in key shipping regions.
Long-term contract agreements are emphasized as a means to mitigate the impact of fluctuating freight rates, offering some stability amidst the turbulence. Moreover, efforts are underway to address concerns regarding potential pressure from foreign shipping companies on Vietnamese shippers, with a focus on fostering transparency in management practices.
?By fostering transparency, enhancing oversight, and promoting collaborative initiatives, stakeholders can collectively navigate these challenges and ensure the long-term sustainability?of Vietnam's import-export industry.
Asia-Europe trade aids DHL's airfreight volumes
In the first quarter of this year, DHL experienced a notable increase in airfreight volumes, driven primarily by growth in trade between Asia and Europe. Despite this positive volume growth, the Global Forwarding, Freight (GFF) division saw a decline in both airfreight revenue and profit. Airfreight volumes rose by 5.1% year-on-year to 435,000 tons, yet airfreight revenue in the GFF division dropped by 16.2% to €1.3bn, and gross profit fell by 25.1%.
DHL noted volume growth in both air and ocean freight compared to the previous year, with airfreight volumes showing a notable increase primarily on trade routes?between Asia and Europe. Overall, DHL Group achieved revenue of €20.3bn in the first quarter, representing a 3.2% decline year-on-year.
DHL Chief Executive Tobias Meyer emphasized the continued focus on capacity and cost management?amid a prolonged period of low momentum in global trade. Despite challenges, Meyer expressed optimism for growth opportunities in 2024, particularly in areas such as omnishoring, e-commerce solutions, and sustainable logistics.
Weekly logistics trivia
Jacqueline Hinman, the former Chairman and CEO of CH2M Hill, has made significant contributions to the logistics sector through her leadership and strategic vision.
?Hinman's key achievements in logistics field include:
Jacqueline Hinman's tenure at CH2M Hill significantly shaped the logistics landscape, setting new standards for operational excellence and innovation in infrastructure development.
Open Modal opens new Marseille intermodal terminal
领英推荐
French intermodal operator Open Modal has inaugurated a new terminal at Grans-Miramas, located northwest of Marseille, signaling a strategic shift?in its operations. The newly established West Provence Terminal (TOP) replaces the previous facility at Marseille Canet, situated near the city center, which is slated for closure to accommodate redevelopment plans for the site.
The commencement of operations at the new terminal on May 4 marked a significant milestone, with the arrival of an 850-meter train from Bonneuil-sur-Marne, located in the southeastern suburbs of Paris. This service, previously operated by DB Cargo France for Open Modal subsidiary T3M, is now overseen by Open Modal's subsidiary, Combirail, which formerly operated out of Marseille Canet. Operating five days a week, this service underscores the commitment to efficient intermodal transport solutions.
Combirail, a key player in Open Modal's network, also manages services from Valenton, southeast of Paris, to destinations such as Avignon and Marseille. Additionally, T3M services involving other rail freight operators for traction, including routes from Lille to Marseille and Bordeaux, are expected to transition to the new TOP terminal, consolidating Open Modal's presence and enhancing operational efficiency in the region.
Customs & Regulations
The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) has directed an urgent appeal to President Bola Tinubu, urging comprehensive reforms in the clearance process?for unentered and overtime goods at Nigeria's ports and government warehouse in Ikorodu, Lagos. This articulated in a meticulously crafted letter signed by NCMDLCA President Lucky Amiwero, has been disseminated to key governmental figures, including the Secretary to the Government of the Federation, the Minister of Finance, and the Nigeria Customs Service (NCS).
?Amiwero underscores the imperative for an equitable and orderly clearance process?that affords importers and licensed customs agents the requisite opportunity to clear goods prior to considering them for public auction.
Citing legal statutes, the letter advocates adherence to established customs clearance protocols for goods deposited in government warehouses.
Amiwero's impassioned appeal reflects the pervasive industry concern and underscores the imperative for immediate and efficacious governmental action?to ameliorate?the prevailing challenges in Nigeria's port clearance system.
???Until Next Week
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