Did You Know That…

---

…Red Sea rerouting prompts recalibration of Saudi trade.

• King Abdullah and Jeddah saw volumes decimated last year in the absence of major carriers in the Red Sea

• The Middle East Gulf port of Dammam has served as a vital alternative ocean entry point for Saudi’s gateway cargoes, resulting in record throughput numbers

• Regional carriers have continued to pick up the slack

The Red Sea crisis triggered a big rerouting of global shipping around Africa, slashing Saudi Arabia’s Red Sea port volumes. King Abdullah Port volumes fell 83% in 2024, Jeddah fell 33%, while Dammam surged 43% as traffic shifted to the Middle East Gulf. Feeder ships replaced mega-vessels in the Red Sea to ensure regional cargo coverage was maintained, but renewed conflict keeps risk levels high and recovery uncertain.

---

…Asia-US west coast spot rates start to stabilise after steep slide.

• SCFI assessment for Asia-US west coast fell only $194 per feu versus the prior week, just one-seventh of the downward pace in the previous two weeks

• Data from Vizion shows that US import bookings have been more stable over recent weeks

• Shares of container lines sank after ‘Liberation Day’, jumped when US tariffs on China were reduced, then fell back to where they started

The bad news for shipping lines: transpacific rates continue to slide. The good news: rates from Asia to the US west coast may be stabilising near the same levels they were when US President Donald Trump announced his tariff reprieve.

---

…Asia–Northern Europe spot rates hit five-month highs.

• Rate increase driven by peak season demand and congestion at major European ports

• SCFI shows Asia–Northern Europe spot rates above $2,000 per teu for first time since late January

• Despite current strength, spot prices remain significantly lower than this time last year — 58.4% down for Northern Europe, 44.5% down for the Mediterranean

Spot freight rates from China to Northern Europe have surged to $2,020 per 20ft container — up 70% since early May — driven by seasonal demand and heavy port congestion. Although Red Sea rerouting continues to support prices by limiting capacity, analysts expect spot rates to decline later in 2025 as new vessels enter the market and demand softens.

---

…Chinese brands are sweeping the world.

From fast food to video games, new marques are making their mark.
Ask a Westerner for an example of a successful Chinese consumer-goods brand, and until recently most would have struggled. Although China is the world’s premier manufacturing power, it has long lagged behind when it comes to imaginative home-grown retail brands and products, even as its factories have cranked out vast numbers of them for foreign companies. This is now changing. Innovative Chinese brands are popping up everywhere. Consumers and investors around the world stand to benefit.

---

…African trade with Asia and Europe lights up as countries boost export verticals.

Increased sourcing from Asia and a bolstering of exports and export diversity is leading to a seismic shift in African supply chains, with several countries capitalising on the wider shake-up in global trade to imprint themselves on international markets.

---

…Fruit ships and trucks steer clear of Del Monte bankruptcy.

News that Del Monte Foods yesterday filed Chapter 11 bankruptcy proceedings should not concern fruit producers using the 12 vessels owned by Fresh Del Monte Produce, or its trucking network.

---

…How to strike a trade deal with Donald Trump.

Vietnam is the latest country to secure concessions.
Another agreement, another personal triumph. “It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam,” President Donald Trump wrote on July 2nd. “Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure.” The deal showed countries were caving in to his threats, he said. It is Mr Trump’s second such claim—the first was after an agreement with Britain in May—following his decision on April 9th to delay America’s sweeping “reciprocal” tariffs for 90 days. Officials promised “90 deals in 90 days” by July 9th, but progress has been slow. Mr Trump has said that Canada and the European Union have been “very nasty” and Japan “very spoiled”. The aim now is to secure minimal “frameworks” with ten or so countries. It is unclear whether the deadline will hold, and what will happen if it does not. Mr Trump has threatened to send letters declaring talks over and tariffs back on.

---

Transporting terracotta treasures

Cathay Cargo has transported ten terracotta warriors and around 200 artefacts from Xi’an to Perth for the exhibition 'Terracotta Warriors: Legacy of the First Emperor'. Organised with Chinese and Australian partners.

---

…Saudia Cargo and China Cargo Airlines form strategic alliance.

Key features:

• Increased flight frequencies between Riyadh and Shanghai

• Launch of a direct route from Riyadh to Budapest – a first for Saudia Cargo

---

…New China–Europe freight train route launched.

A new route from Beijing (China) to Baku (Azerbaijan) marks the Chinese capital’s first multimodal corridor across the Caspian Sea. The rail–sea–rail service reduces the transit time from 50 to around 15 days, according to China's state council.

---

…Up to 60% of our planet Earth is covered by clouds at any given moment.

…Most kangaroos are left-handed.

---

This DYKT news bulletin will be published on the website as well:

🌐 www.eaanetwork.com

---

Have a good day and weekend ahead!