Did You Know That...

📉 Container Spot Rates Decline
Container spot rates, led by Asia-Europe trades, have dropped significantly. The SCFI Index recorded an 8.6% decline, marking the second-largest weekly drop in the past year. While rates remain strong, their upward momentum has stalled and further declines are anticipated in the coming weeks.

🚢 US Port Strike Averted
The January 15 strike at US East and Gulf Coast ports has been called off. A tentative agreement was reached between the ILA and USMX, averting disruptions. The deal, facilitated by President-elect Donald Trump, offers relief to shippers and may ease freight rates.

🏆 MSC Extends Market Leadership
Container shipping giant MSC continues its dominance, with capacity now 43% higher than second-placed Maersk. Over the past five years, MSC has leveraged its profits to achieve unparalleled capacity growth.

⚖️ Corruption Scandal in Guangzhou Port
Former chairman Li Yibo of Guangzhou Port Group has been dismissed for misconduct, including accepting $180,000 in cash gifts. His deputy, Huang Bo, has taken over leadership.

🇺🇸 Columbus-Cargo Expands to the USA
Our valued member Columbus-Cargo Austria proudly announces the opening of their New York Sister Company, now operational and ready to handle transportation and customs clearance needs across the USA.

🌍 Panama Canal Traffic Rebounds
Despite challenges such as drought and geopolitical tensions, Panama Canal traffic rose 6% in December, reaching its highest levels since April 2023. Transits are steadily rebounding, ensuring critical shipping routes remain functional.

🇨🇳 Cosco Strengthens China's Container Hub
China’s Yangpu Port on Hainan Island is positioned to become a container hub, with Cosco playing a pivotal role in its development.

🚢 Record Milestone for Port of Tanjung Pelepas (PTP)
The port of Tanjung Pelepas (PTP) achieved a new record in 2024, handling over 12.25 million TEU, surpassing its previous high of 11.2 million TEU in 2021.

🌿 Green Corridor Linking Portugal to Northern Europe
Mitsui OSK Lines (MOL) has partnered with global leaders to develop a green corridor connecting Portugal to Northern Europe, advancing sustainability in shipping.

🚆 Enhanced Rail Links in Brazil
CMA CGM has improved intermodal services, linking the Port of Santos with four key logistics hubs in São Paulo, boosting freight connectivity.

🌐 DP World Surpasses 100 Million TEU Globally
Global port operator DP World now handles over 100 million TEU, supported by USD 11 billion in investments in infrastructure, expansions, and acquisitions.

Wishing you all a fruitful rest of the week