WEEKLY MARKET UPDATE 11/21/2024
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This Newsletter's Summary
Figure of the week
20%?growth in rail freight volumes from China to Europe due to expanding trade routes.
Quote of the week
"Problems are only opportunities in work clothes."
"Henry Kaiser"
?Demand Surge and Operational Challenges in Key Ports Post-Golden Week
As?demand out of Asia?rebounds stronger than expected in 2024, key ports?are facing operational challenges due to seasonal weather?changes and maintenance work.
?In Rotterdam,?fog and rain?are impacting terminal operations,?while Bremerhaven is experiencing?vessel lineup pressures?due to public holidays and delays.
Antwerp?is also seeing high vessel waiting times?due to late arrivals and ongoing quay maintenance. Meanwhile, Mediterranean ports like Tangier and Algeciras remain stable but are monitoring reefer plug density and?ongoing construction.
Customers are encouraged to stay in touch with their local Maersk representatives for planning options amid these developments.
Skyrocketing Demand: Air Cargo Faces Capacity Crunch in 2025
The?air cargo industry?faces capacity challenges?next year due to slower passenger aircraft additions, limited freighters, and high?e-commerce demand. Only 4.4% growth is expected, and capacity may shift from Africa and Latin America to Asia.?
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E-commerce?demand should remain strong, with companies like Temu and Shein focusing on Southeast Asia and Latin America. This shift could ease pressure on US markets and diversify global airfreight routes.?
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Trade tariffs?may cause short-term disruptions, but long-term growth is expected as production shifts to markets like Vietnam. The industry will adapt to rising e-commerce demand and changing?trade patterns.
Weekly logistics trivia
Ludwig von Mises?was an influential?Austrian economist, known for his contributions to economic theory?and market processes. His work laid the foundation for modern logistics?and business management.?
Achievements:?
?Mises' ideas on?economic calculation?and entrepreneurship?continue to influence business and logistics strategies?today. His legacy remains vital for understanding market-driven logistics systems.?
India’s Rail Revolution: Key Infrastructure Upgrades Ahead?
The?Centre’s Network Planning Group (NPG)?met on 18 November to review key railway projects?aimed at?improving freight capacity?and regional connectivity, including Ballari-Chikjajur, Hosur-Omalur, and Secunderabad-Wadi.?
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The 185 km Ballari-Chikjajur Doubling will enhance transport for industrial sectors?and create?job opportunities. The Hosur-Omalur Doubling will strengthen Tamil Nadu’s freight links, supporting cement, agro-processing, and automobile sectors.?
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The Secunderabad-Wadi Quadrupling will ease congestion,?improve coal?and?food grain transport,?and connect Telangana and Karnataka’s industrial regions?to major ports, supporting?India’s logistics goals.
Customs & Regulations
the Nigeria Customs Service (NCS)?signed a Customs Mutual Administrative Agreement (CMAA)?with India to enhance trade relations. The signing took place ahead of the Indian Prime Minister’s state visit to Nigeria ?
Comptroller-General Adewale Adeniyi highlighted that the agreement will?streamline customs processes, improve enforcement, and reduce trade costs, fostering cross-border trade. The agreement also focuses on accurate?customs duties, proper goods classification, and robust verification processes.?
Additional provisions include information exchange, expert witnesses, and strengthened efforts to combat customs violations. The CMAA supports Nigeria’s broader goal of fostering?global trade partnerships?and improving the efficiency of its Customs operations.?
???Until Next Week
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Sources