Houthis to target Indian Ocean transits as attacks continue. Panama-flagged tanker Pacific 01 sustains minor damage in latest Houthi missile attack. Houthi leader Abdul-Malik al-Houthi pledges to extend missile attacks against ships diverting around the Cape of Good Hope.

CMA CGM expands Ocean Alliance and media empire. Ocean Alliance sets out network for the year ahead to account for rerouting. After committing to a further five years as a grouping, the Ocean Alliance will be the largest global network, offering 4.5m teu. Meanwhile, CMA CGM is looking to diversify further into media.

Here’s the usual weekly market update of our friend Steve Yuan of FS China: At the end of March, the European market experienced tightness in space due to expectations of price increases in April, particularly affecting the THE Alliance. In the third week of March, there were blank salling in FE4, leading to a concentration of cargo towards the end of the month.

The Houthi rebels in Yemen will continue retaliatory actions against commercial vessels associated with Israel, potentially obstructing passage through the Indian Ocean and around the Cape of Good Hope in Africa, providing support for freight rates in April and June. In April, alliance routes are being adjusted, with the Ocean Alliance as an example. “Asia to Northern Europe” is the focus for many in April, with weekly services reduced from 7 to 6. Shipping companies are actively considering price stability actions for April. Currently, market prices for April range from USD 3200 to 3600 per 40HQ.

MSC closes in on acquisition of French forwarder Clasquin. Following exclusive negotiations, which began at the end of last year, MSC subsidiary Shipping Agencies Services (SAS) and Clasquin Group have reached agreement that will see SAS acquire a 42% stake in the French forwarder, with a view to purchasing the remaining capital on the stock market.The shareholding is currently in the hands of chairman Yves Revol and Lyon-based private equity firm Olymp.

Slow and steady transatlantic box trade settles back to normal patterns. After a sharp rise and rapid fall the transatlantic is reaching equilibrium again. Trade between Europe and North America is expected to see little growth. But for carriers the transatlantic can yield profits if capacity is managed carefully.

DP World strengthen integrated logistics with Busan investment. The logistics centre, planned for completion in 2026, will integrate DP World’s port handling capabilities in Busan, as well as its multimodal transportation capacity. The investment in Busan marks another step for the Dubai-headquartered port giant in its strategic shift towards integrated supply chains solutions.

Hapag-Lloyd rolled out tracking API. The Track & Trace API is designed to improve shipment tracking for customers. The API, which became available in March 2024, provides detailed information on shipments, equipment, and transport events for bookings with Hapag-Lloyd since 25 January 2024.

Undersigned just returned from a trip to South America and you may expect some new business partners in Brazil, Peru and Ecuador soon. There is a real chance that new partners from Brazil will be
present at the AGM in porto, next mointh for personal introductions.

Relations between Japan and South Korea are blossoming. But how long can the good times last? Since Yoon Suk-yeol, South Korea’s president, took office in 2022, relations between the two neighbours and American allies have blossomed. The question is whether the good times can last.How the relationship evolves will have big implications for the balance of power in the Indo-Pacific.

Maersk extends Haiphong co-operation deal. APMT to advise on automation and decarbonisation at Vietnamese terminal. Vietnam is seen as a high growth market by Maersk, which is extending its agreement with Hateco to help develop its new terminal.

Hapag-Lloyd dismisses shipper fears of Gemini Cooperation. Services can be improved even without direct port calls, Habben Jansen says. There will be winners and losers in terms of direct calls under the Gemini Cooperation’s hub-and-spoke network. But transhipment should not lead to poorer services. Hub port performance is critical to Gemini success. The hub-and-spoke model relies on links in the chain that cannot afford to fail. The Gemini Cooperation is reducing the number of points of failure in the network; but to achieve reliability, each of those must perform.

By the way, Hapag-Lloyd banks on continuity. The supervisory board of the liner shipping company Hapag-Lloyd has approved an early renewal of the contract of chief executive officer (CEO) Rolf Habben Jansen, which runs until 31 March 2027, for five years, until 31 March 2029.

At the annual meeting of China’s parliament, the prime minister, Li Qiang, laid out an ambitious GDP growth target of “around 5%”. Mr. Li admitted that it will be yough to meet.

Rerouting eases container overcapacity concerns. Record delivery levels are being absorbed by longer routing and improved demand. Cargo demand is set to rise at a slower pace than capacity deliveries; however, extended voyages will help delay the onset of overcapacity in the boxship market.

Saudi Aramco reported a net profit of $121bn for 2023, more than the combined profits of the West’s five biggest oil companies.

Liege airport: a great start to 2024. The first two months of 2024 confirm the robustness of Liege airport’s business model, with an increase in the number of flights (+15%) and tonnage (+13%) compared to the same period of 2023. Freight traffic rose by 13%.

With disarray at Schiphol Airport (AMS) over slot restrictions, which have hampered freighter operations, shippers and forwarders think Maastricht (MST) could be an attractive alternative – with the proviso that it needs investment and more connections.

Mr. Biden announced that America will build a pier off the coast of Gaza to enable the delivery of far greater quantities of humanitarian aid.

Hong Kong passes a security law that its masters scarcely need.But the city’s clampdown on dissent will please officials in Beijing. The law covers offences such as treason, insurrection and espionage. It overlaps with a security law imposed on Hong Kong by the central government in 2020, a year after the city was rocked by big pro-democracy gatherings.

A pharma hub in Abu Dhabi. The Logistics Park phase 5 of Khalifa Economic Zones Abu Dhabi (Kezad) is home to multiple grade A warehousing sites, now including Pharmatrade’s centre.