…Cosco extends inland service. In response to rising demand from e-commerce and manufacturing customers, the Chinese shipping giant recently launched a cross-border transport service between the USA and Mexico.

…Low water surcharge in Manaus. Maersk has announced a low water surcharge (LWC) due to anticipated severe drought in the Amazon region. Effective from 1 August 2024 (non-FMC) and 15 August 2024 (FMC), all shipments to or from Manaus will incur a surcharge of USD 5,900 per dry container.
 
…Drones on the top of the world. Chinese drone manufacturer DJI has teamed up with Nepalese partners to fly the world's first successful delivery drone trials on Mount Everest (Mount Qomolangma).

…Box spot rates hit fresh 2024 highs. Failure to get a grip on port congestion will only push rates up further. SCFI and Drewry’s World Container Index show further spot market gains, as early peak season cargoes tip the supply/demand balance.

…Singapore’s minister for transport reveals 90% of vessels arriving ‘off-schedule’. Vessels are facing waits of three to four days as container lines shuttle cargo to Singapore before returning to Europe. Singapore’s Ministry for Transport says berths and yard space at Keppel and Tanjong Pagar terminals will be reactivated to try to relieve congestion at the crucial container port.

…Threat of sanctions is holding back the northern sea route. Russia and China have said they will co-operate to develop the route on a recent visit to Beijing by President Vladimir Putin. Chinese reluctance to invest in the port facilities on the route is preventing it from becoming a genuine alternative to the Suez Canal, experts argue.

…Chinese EV giant BYD to build $1 billion plant in Türkiye. China’s BYD, which vies with Tesla for the title of the world’s top maker of battery electric vehicles, has agreed to build a $1 billion car factory in Türkiye, the Turkish government has announced. The announcement came just days after provisional additional duties on imports of Chinese-made EVs into the European Union came into effect. The tariffs, ranging from 17.4% to 37.6%, are aimed at stopping a flood of cheap Chinese cars built with what the EU deems unfair support from the government. For the time being, Tesla is keeping its crown as biggest EV seller with 444,000 cars delivered in the second quarter against 426,000 vehicles delivered by BYD.

…Plans to increase capacity of the Middle Corridor rail freight route from China to Europe, are likely to be far more important to Central Asian shippers than the European importers using it as an alternative to sea freight.
 
…A shock election result in France puts the left in the lead. But they are well short of a majority; uncertainty looms. In a result that took France wholly by surprise, the left-wing New Popular Front (nfp), dominated by Jean-Luc Mélenchon, looks poised to become the biggest bloc in parliament after final-round voting at legislative elections closed on July 7th.

… Also in the UK, center-left Labour won a majority in the 2024 general election. Labour won 411 seats, up 209 on their total from the 2019 election. The Conservatives won 121 seats, down 244 from their 2019 total of 365 seats. The Liberal Democrats gained 61 seats for a total of 72, while the Scottish National Party won nine seats, down from 48 in 2019.

…We are pleased to share the news that ms. Rachael Budd, ceo of Transolve, of our member in Australia and New Zealand, was selected as finalist in the Transport and Logistics catergory of the 2024 Australian Womans Small Business Champion Awards. Congratulations Rachael, on behalf of all EAA team.
 
…EU regulators approved Lufthansa’s bid for a 41% stake in ITA, Italy’s national carrier, which was created from the ashes of Alitalia.

…Our esteemed board member Globus Logisys from India likes to share some newsletter pointers, as per attched document.

INDIA AS A MANUFACTURING HUB: 

India's quest for manufacturing prowess also hinges on forging robust trade agreements. The pursuit of Free Trade Agreements (FTAs) with countries like Australia, the UK, and Canada underscores India's proactive approach to enhancing its trade ecosystem. These agreements are expected to stimulate manufacturing growth by making exports more attractive and facilitating greater market access for Indian goods.
 
Manufacturing: the government’s Production-linked Incentive (PLI) schemes have led to a surge in domestic manufacturing, particularly in sectors such as  pharmaceuticals, electronics, auto components, and textiles. India’s skilled workforce presents opportunities for exporting heavy machinery, construction equipment, and engineered goods.
 
Agriculture: India’s extensive coastline offers opportunities for exporting high-quality seafood, and its rich culinary heritage drives demand for spices, condiments, and herbal products.

Gems and jewelry: India’s expertise in diamond cutting and polishing and affinity for hold positions it as a global leader in the industry with the potential to expand exports of polished diamonds, jewelry, and ornaments.

INDIA'S CO-ORDINATION WITH THE GLOBE:

1. United States: The United States is India's largest trading partner, with a total trade volume of over $71.39 billion . The US is a major source of imports for India, including crude oil, machinery, and chemicals. India's main exports to the US include pharmaceuticals, textiles, gems, and jewelry.

2. China: China is India's major trading partner, with a total trade volume of over $13.6 billion . China is a major supplier of electronics, machinery, and chemicals to India. India's main exports to China include iron ore, cotton, and marine products.

3. United Arab Emirates (UAE): The UAE is the trading partner of India, with a total trade volume of over $28.76 billion . The UAE is India's major source of crude oil and natural gas. India's main exports to the UAE include petroleum products, textiles, and rice.

4. Singapore: Singapore is the major trading partner of India, with a total trade volume of over $11 billion in. Singapore is a key financial hub and trading center for India. India's main exports to Singapore include petroleum products, chemicals, gems, and jewelry.

DIGITALIZATION IN LOGISTICS AND SUPPLY CHAIN MANAGEMENT:  

The logistics industry is rapidly evolving in response to technological advancements, changing consumer expectations, and global economic shifts. As we look ahead, several key trends are poised to shape the future of logistics, revolutionizing the way goods are transported, warehoused, and delivered. From automation and artificial intelligence to sustainability and last mile innovations, this post explores the major trends that will redefine the logistics landscape in the coming years.
 
Digitalization is a trend that is transforming the logistics industry. With the rapid advancements in technology, logistics companies are leveraging digital platforms, artificial intelligence (AI), and  robotics to streamline their operations and improve efficiency.

One key aspect of digitalization is the adoption of advanced supply chain management systems. These systems integrate various functions, including inventory management, order processing, and transportation planning, into a single, centralized platform. This allows for real-time tracking and visibility across the entire supply chain, enabling businesses to make data-driven decisions about their operations.