…Asia-Europe Spot Rates Soften, While Transpac Prices Harden as Dock Strike Threatens

• Transpacific container spot rates were on the rise this week as industrial action storm clouds gathered over US east coast ports.

 

…Production Hits Record Levels

• Dry freight container production is set to be the second highest on record in 2024, with all-time highs in the second quarter, and July’s output exceeding 850,000 TEU from Chinese factories.

 

…Aviation: HKG Cargo Traffic Up in July

• Airport Authority Hong Kong (AAHK) recently released Hong Kong International Airport’s (HKIA) air traffic statistics for July 2024.
• During the month, cargo handling was up 14.6% to 414,000 tons.
• Cargo throughput at HKIA has continued its consecutive double-digit year-on-year growth.

 

…More Aviation: Growing Volumes Between Booming Regions

• Trade between the Gulf nations and emerging Asian nations continues to show high growth momentum.
• The trade surged 35% from USD 383 billion in 2021 to USD 516 billion in 2022 and is expected to reach USD 757 billion by 2030.

 

…Shipping Still Faces Fallout Despite End to Canada Rail Shutdown

• Dry bulk and container trades are expected to be impacted despite the halt to labor action.
• Rail disruptions are ending as a result of Canadian government intervention.
• Even so, shipping will see some supply chain disruptions for container cargoes, as well as outbound flows of grain, potash, coal, and forest products.

 

…DSV and a Private Equity Consortium Led by CVC Have Reportedly Put in Binding Bids for DB Schenker
Both DSV and the consortium have reportedly put in binding bids of around €14bn for DB Schenker.

 

…Strike at Major Indian Ports Called Off, but Supply Chain Challenges Remain

• Fears of supply chain disruption from an indefinite strike by Indian port workers have eased.
• The action across 12 major ports, planned to begin today, was canceled after negotiators representing India’s shipping ministry agreed on wage enhancements and additional fringe benefits for some 20,000 workers.

 

…Cambodia Bets on Canal Project but Ports Gap Remains Crucial

• Cambodia vows to build the $1.7bn canal ‘at all costs’, using a build, operate, and transfer business model in conjunction with Chinese construction giant China Road and Bridge Corporation.
• The lack of deepwater ports remains a major challenge for Cambodia.

 

…Our Good Friend Ms. Rachael Budd from Transolve Australia Wins Prestigious Award

• Ms. Rachael Budd was declared the winner of the prestigious Australian Women’s Business Champion Awards.
• Join me in congratulating Rachael and team-Transolve on this stunning accomplishment, something to be proud of indeed!

 

…Sales of Pure-Electric and Hybrid Vehicles Overtake Conventional Cars in China

• New-energy vehicles accounted for 51% of total vehicle sales in July, up from 7% just three years ago.

 

…Britain’s Unusual Stance on Chinese Electric Vehicles

• Unlike America or Europe, Britain is welcoming the cheap cars—for now.

 

…Port of Gothenburg: 15th Quarter of Growth

• The Port of Gothenburg has experienced growth for the 15th consecutive quarter, with container volumes increasing by 5% to 467,000 TEU in H1/2024.

 

…Strong Typhoon No. 10 Hits Southern Japan on August 27

• The typhoon caused widespread disruptions to transportation and logistics.

 

…Indian Tourists Are Conquering the World

• A booming middle class, budget flights, and Bollywood are contributing to this trend.

 

…Report from Our Member Mr. Md. Aminur Rashid of NAVANA Logistics in Bangladesh

• Bangladesh has been facing severe torrential rain since August 15, 2024, with the intensity increasing in the last 2-3 days, causing many areas in the country to be flooded.
• In Chittagong, many low-lying areas are underwater, and the rough weather has caused severe traffic movement slowdowns both inside and outside of CPA as well as on Dhaka-CTG highways, causing turnaround time for vehicles to increase by 3-4 times.

 

As of yesterday, 80% of the import yard space is occupied at CPA. This severe weather condition is hampering all operational activities again for both the terminal and off-docks.

 

…Australians Are Allowed to Switch Off Outside of Working Hours

• In the digital age, constant availability is taking its toll on many people's health. In Australia, employees no longer have to be reachable after work.

 

…The Dead Sea Contains Ten Times More Salt Than the Mediterranean.

 

…Dogs Bite Postmen Because They Smell Dogs from Other Houses on Them.

Enjoy the reading and the rest of the week