WEEKLY MARKET UPDATE 07/04/2024
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This Newsletter's Summary
Figure of the week
$1,1 BN?Is the amount at which DOF Group bought Maersk supply service.
Quote of the week
“Logistics is simple, but not easy.”
?~Joe Lynch~
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FMC declares HMM a state-controlled shipping giant!
The U.S. Federal Maritime Commission (FMC)?has designated HMM (formerly Hyundai Merchant Marine)?as a state-controlled shipping line. This decision stems from the South Korean government's substantial ownership and financial support, classifying HMM as subject to state influence.
HMM's classification as state-controlled has implications?for its operations and competitive positioning in the global shipping industry. The FMC's listing highlights concerns about fair competition and market dynamics, considering HMM's significant governmental backing.
This designation could lead to stricter regulatory scrutiny and impact HMM's relationships with international trade partners and stakeholders. The FMC's move underscores the ongoing global discourse on state involvement in commercial enterprises.
UK logistics boom: Airfreight set to skyrocket!
The UK logistics sector?is gearing up for significant airfreight growth, driven by increasing e-commerce and global trade demands. Logistics companies are investing?in infrastructure and technology to enhance air cargo operations, ensuring efficient and swift delivery services.
The sector is focusing on sustainability, incorporating greener practices and optimizing supply chain processes to reduce environmental impact. Enhanced collaborations?between airports, carriers, and logistics providers are crucial in meeting these goals.
This growth and innovation in the UK logistics sector aim to strengthen its position?as a key player in the global airfreight market, responding to evolving market needs and economic challenges.
Weekly logistics trivia
Frederick Winslow Taylor, born in 1856, was an American mechanical engineer who sought to improve industrial efficiency. He is regarded as the father of?scientific management and made significant contributions to modern management practices.
领英推荐
Taylor's methods revolutionized manufacturing and laid the groundwork for contemporary logistics and supply chain management. His principles are still applied in various industries to enhance operational efficiency and effectiveness.
China-Europe Rail Freight Facing High Demand and Delays
The China-Europe rail freight corridor?continues to experience high demand, necessitating advance forecasting for shipments. Congestion at CN-KZ border crossings, coupled with terminal departure delays in China, has extended transit times.
Despite these delays, rail remains the fastest option?for container transport from China to Europe. Notably,?Xi’an offers a speed train with a 13-day transit?time to Duisburg, prioritizing border crossings. However, expect equipment shortages in certain pick-up locations and queues at the PL/BY border due to public holidays and a new trucking slot booking system.
On a positive note, space availability and transit times have improved recently. Express trains from Germany to China?operate with lead times of 12-15 days, while standard trains take 18-22 days terminal-to-terminal. Additionally, there are available connections with East Asia, including South Korea and Japan, with an average transit time of 30 days.
Customs & Regulations
Starting July 1, 2024, the EU?will implement centralized clearance for import procedures, allowing businesses to submit a single customs declaration for goods entering the EU, regardless of their entry point. This change, under Commission Implementing Decision (EU) No. 2023/2879, aims to streamline import processes.
The centralized clearance system is designed to reduce?administrative burdens and improve efficiency. Businesses will interact with a single customs authority, simplifying compliance and potentially reducing customs clearance costs.
This new system is part of the EU's effort?to modernize customs operations, ensuring smoother and more efficient trade. It provides a consistent and transparent customs environment across the EU, benefiting importers significantly.
???Until Next Week
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