WEEKLY MARKET UPDATE 07/18/2024
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This Newsletter's Summary
Figure of the week
OOIL reports?14.4%?jump in Q2 revenues in 2024
Quote of the week
"Logistics is the ball and chain of armored warfare."
"Heinz Guderian"
The multinational Adani Group plans to build a port in Vietnam !
Adani Group, a prominent Indian multinational, intends to establish a new port in Da Nang, Vietnam, as reported. Adani Ports and Special Economic Zone Ltd., led by Managing Director Karan Adani, has received initial approval?from the Vietnamese government for this greenfield project.
It will encompass container terminals and multipurpose?berths for diverse cargo handling. Currently in early planning stages, the project's total investment is yet to be finalized. Adani Group aims to enhance its international operations, targeting regions like Southeast Asia, East Africa, and the Middle East?to bolster export volumes, aiming for a 10% share by 2030.
They recently entered Vietnam with plans for?substantial investments totaling?$10 billion over five years.
Emirates Skycargo order five Boeing 777FS !
Emirates SkyCargo, the cargo division of the world’s largest international airline, has confirmed an order for five additional Boeing 777?freighters to be delivered between 2025 and 2026, valued at $1 billion. This order expands the airline’s total order book to 315 wide-body aircraft.
The division's performance in Q1 of the 2024-25 fiscal year?has been outstanding, exceeding 2019 figures with high load factors and tonnages.
With a 30% increase in main deck cargo capacity expected upon fleet expansion, Emirates SkyCargo aims to enhance service to key markets?and meet growing global customer demands effectively.
Weekly logistics trivia
Bernard Arnault, primarily known for his role as the Chairman and CEO of LVMH?(Mo?t Hennessy Louis Vuitton), has indirectly influenced logistics through his leadership in luxury goods and retail.
领英推荐
Therefore, even if it may not be immediately apparent, Bernard Arnault has played an important role in the?world of logistics.
Regulators nervous about rail freight decline...
Federal regulators?are convening a rare public hearing to address declining freight rail volumes, summoning executives from?major railroads?to outline strategies for industry growth and investment.
Scheduled for September 16 and 17 in Washington, D.C., the Surface Transportation Board aims to understand how rail carriers plan to enhance efficiency and reliability?amid recent volume?decreases.?
Noting a significant 28% decline?in carload traffic over the past decade, as reported by the Federal Reserve of St. Louis, the STB seeks insights into short-, medium-, and long-term growth plans, emphasizing the importance of innovation and strategic initiatives to reverse current trends.
Customs & Regulations
Pakistan?has secured a $7 billion Extended Fund Arrangement with the IMF, pending final approval. The program aims to strengthen macroeconomic?stability through fiscal consolidation, inflation control, and enhanced reserves.
Key reforms include tax base expansion, simplifying taxation, and increasing social spending. Provinces will align tax efforts?by 2025. The State Bank of Pakistan?will maintain a flexible exchange rate.
Energy sector reforms and subsidy?adjustments are priorities. Governance, transparency reforms, and trade liberalization efforts are also emphasized.
???Until Next Week
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Sources