…Maersk Unveils Massive Newbuild Programme Amid Fleet Competition Pressure: Maersk aims to take delivery of new dual-fuel capacities, accounting for about a quarter of its current total capacity, in 2026-2030. The company confirms a pivot to bio-LNG — a fuel type the carrier had previously dismissed — amid slower-than-expected green methanol production and uncertainty around shipping carbon prices.

…MSC Adds 12 More 19,000 TEU LNG-Powered Ships at China’s Zhoushan Changhong: The shipyard confirmed the order while more MSC newbuilding projects are surfacing. This latest contract will help the Aponte family-controlled line further cement its position as the world’s largest container carrier.

…Huge Explosion on Yang Ming Boxship at Ningbo: The terminal operator reported no injuries yet. Videos online (also shared in the EAA business app) show the massive blast after hazardous material caught fire on the 2011-built YM Mobility. Following this incident, the regulator demands a boost in dangerous goods compliance. China’s Maritime Safety Administration urged shipping lines and shippers to "resolutely curb" such accidents from happening again. Explosive materials reportedly include t-butyl peroxybenzoate and lithium batteries. Investigations are ongoing to determine the exact cause of the incident.

…Market Update from Steven Yuan of FS International in Shanghai: The European market has shown a noticeable price easing after entering August. As congestion decreases and new capacity continues to increase (by 2-3% each quarter), rates on European routes have peaked and are now declining. The current focus on European routes is the slope of the decline. The market FAK (Freight All Kinds) price is currently between USD 7,800-8,000 per 40HQ.

…FS International's Invitation to CIIE 2024: Following their success last year, FS International HK/China extends a heartfelt invitation to EAA Members to join them in Shanghai for the CIIE 2024. FS International is eager to share the dynamic allure of the import market and explore the vast opportunities it presents. The CIIE is not only a platform for business but also a celebration of international collaboration and exchange. FS International believes that the presence of EAA Members would greatly enhance the experience and foster meaningful connections. You may view last year’s photo gallery of FS's highlights and overall participation to get a sense of the impact we can achieve together. These resources provide a comprehensive look at our collaborative efforts:

• FS International Highlights
• Event Album

For more information, please contact Ms. Bella Liang at Bella.gz@fssouthchina.com, or via Whatsapp/Mobile: (+86) 134 2750 810.

…China-to-Europe Railfreight Rates Soaring as Operators Develop Red Sea Alternatives: China-Europe rail freight volumes continue 2023’s upward trajectory, recording an 11% year-on-year increase in the first six months of this year, with some 1.23m TEU moved. Data from China State Railway Group shows that more than 11,400 trains operated in the first half of 2024, with recent monthly figures suggesting this positive momentum continues. July marked the third consecutive month in which more than 1,700 trains made the journey between China and Europe, with 1,776 transporting some 185,000 TEU.

…Early Peak Season Cements Solid First-Half Box Numbers: Latest official figures show growth of more than 7% for the first six months of 2024. Shipper frontloading and the emergence of an early peak season boosted volume tallies, as the liner sector achieved growth in the first half of the year for the first time since 2021.

…US Imports Smash Past 2.5m TEU: July import volumes reached the third-highest on record, according to Descartes. Import volumes across the US in July surpassed both 2021 and 2022 levels for the first time this year, reaching their highest since May 2022.

…Potential Rail Strike in Canada After Aug 22nd: Reported by Alexandre Vieira from Sealion Cargo in Canada, there is a high possibility of a rail strike in Canada after Aug 22nd. CN and CP rail companies, along with other industries in Canada, are pressuring the government to avoid the strike:

• CN and TCRC Union Bargaining Updates
• Rail Strike News

Alexandre will keep you posted on any updates.

…Oceaanixx Uzbekistan: Your author recently met with the executive director of our esteemed member Oceaanixx Uzbekistan. Oceaanixx UZ specializes in organizing the "last mile" in the supply chain and is ready to undertake the delivery of your cargo from the border of Uzbekistan or international consolidation points to the final destination. Attached is a brief summary of their services. For more information or inquiries, please contact Ms. Rinata Bakirova at rbakirova@oceaanixx.com.

…Chittagong Port Battles Ongoing Congestion Amid Political Unrest: Port congestion persists following the lifting of the latest curfew and the restoration of internet connectivity. Several vessels have been waiting at the nation’s largest port for seven days.

…China’s Manufacturers Facing Bankruptcy: Overcapacity is leading to soaring bankruptcies. Most news on China’s manufacturers spells trouble for rivals around the world. Foreign governments fear their domestic champions will be pummeled by low-cost Chinese rivals. But on August 5th, the world got a reminder that China’s producers face big problems of their own. Hengchi, an electric-vehicle (EV) maker owned by Evergrande, a failed property developer, told investors that two of its subsidiaries had been forced into bankruptcy. The group originally aimed to sell 1m EVs a year by 2025; amid feverish competition, it sold just 1,389 last year. The glut in industrial production is not limited to EVs. About 30% of industrial firms were loss-making at the end of June, rising above the previous recorded peak during the Asian financial crisis in 1998.

…Welcome TITO Smart Modal Logistics, Brazil: We are very pleased to welcome another valuable associate to the network. Attached is the latest update of the EAA prime contact list.

…The Magnificent Seven: Top global terminal operators pull away from the rest. The seven biggest global terminal operators accounted for 40% of global container throughput in 2023. The latest Drewry Global Container Terminal Operators Annual Review revealed a growing gap between the biggest players in the container terminal market and those trying to break into the top seven. They are PSA International, China Merchants Ports, China Cosco Shipping, APM Terminals, DP World, Hutchison Ports, and MSC Group – all reporting equity-adjusted throughput of more than 40m TEU in 2023.

…China Leads the World in Coffee Shops: But the average Chinese person still consumes much less coffee than a typical American. Between 2010 and 2022, coffee consumption per person in China rose fourfold, according to the International Coffee Organisation.

Enjoy the reading and the rest of the week!