Did You Know That…

• Boxship Bunching Bouncing Back: Uneven shipping schedules are putting pressure on ports. Sea-Intelligence notes that multiple boxships are now sailing the same service within the same week, with “bunching” levels on Asia-Europe trades similar to those seen during the pandemic.

• New Chancay Port in Peru to ‘Soft Launch’ in November: Starting next month, the Chancay Port will receive vessels and accommodate the largest containerships with a 60-foot draught. Cosco, a China-based shipping company, holds exclusive rights at the port, which is poised to enhance trade in the region.

• Brazil's Santos Port Booming: The port handled a record number of TEUs from January to September, with new terminal plans underway. Santos is seeing its best year yet, bolstered by acquisitions from CMA and MSC, who recently acquired a terminal operator there.

• US Imports and Consumer Demand Rise: Strong consumer spending and potential tariff concerns are driving high import volumes at US container ports, especially in Los Angeles. Port activity could further increase with shippers anticipating a possible port strike in January.

• Grimaldi Group Expands Trieste-Ambarli Service: Adding Patras, Greece, as a new port of call, Grimaldi’s enhanced service will strengthen connections between Italy, Greece, and Turkey, offering two weekly departures from Trieste, Patras, and Ambarli.

• MSC Acquires Majority Stake in Wilson Sons: MSC has acquired 56.5% of Wilson Sons, a terminal operator in Brazil, for $768 million. Wilson Sons operates terminals in Rio Grande and Salvador, South America.

• Microsoft Excel Turns 40: As one of the most widely used business tools, Excel remains essential for tasks from analyzing financials to asset pricing, with over 100 million users listing it as a skill on LinkedIn.

• China and UAE Collaborate on Port Development: Under a new MOU, China and the UAE are strengthening port construction, green energy initiatives, and connectivity as part of China’s Belt and Road Initiative.

• Shipping Rates Surge Before November: Reports from China indicate that carriers are increasing rates, causing a spike in shipments and overbookings. Some adjustments downward are anticipated, but further rate fluctuations are expected.

• Container Capacity Overshoot: Container spot freight rates on main routes from China continue to fall. Experts suggest carriers may have overestimated demand and may need to blank more sailings.

• BRICS Summit Highlights Russian Positioning: Russian President Vladimir Putin closed a BRICS summit in Kazan, citing the bloc’s role in balancing Western influence. Leaders from 36 countries attended the event, demonstrating the bloc’s global significance.

• Mind4Logistics Opens Paris Branch: Mind4Logistics announced the opening of its Mind4Project branch in Paris. Contact Jorge Emanuel at jorge.emanuel@mind4logistics.com for further information.

• Rotterdam Implements ‘Secure Chain’ for Imports: Starting in February 2025, Rotterdam will replace traditional PIN codes for container release with ‘Secure Chain,’ ensuring secure imports from the Far East and Oceania.

• Shanghai Sets Ambitious 2035 Throughput Target: As the world’s largest container port, Shanghai aims to exceed 65 million TEUs by 2035 through advancements in intermodal networks and AI.

• Hapag-Lloyd Explores Wind-Assisted Propulsion: The carrier is investigating wind-assisted propulsion technology as part of its emissions reduction strategy.

• First Foldable ‘Five-in-One’ Container Unveiled: Compact Container Systems launched the Seafold HC 40’, an ISO-certified foldable shipping container that offers enhanced flexibility in containerized transport.

• Antwerp-Bruges and Rotterdam Port Throughputs Up: Both ports reported strong container volumes in 2024 due to increased consumer spending. Antwerp-Bruges achieved a 6.8% increase in throughput, while Rotterdam noted gains from consumer-driven demand.

• Bhutan Seeks Financial Hub Status: Bhutan aims to transform its southern region into a hub for digital nomads and entrepreneurs, hoping to become a financial powerhouse with the energy to power a growing city.

• Argentina’s Economic Outlook Brightens: Argentina’s risk index has hit its lowest in five years. The EAA Network plans to add partners in Argentina and Uruguay next year.

• Dutch Haulier Adds E-Trucks: Simon Loos expanded its fleet with 75 additional e-Actros trucks, furthering its sustainable transport initiatives.

• Hong Kong Cuts Taxes on Spirits: To attract tourists and boost nightlife, Hong Kong slashed taxes on brandy, gin, and whisky, as visitor numbers have not yet fully rebounded to pre-pandemic levels.

• Fun Fact: Despite his famous martini preference in the films, James Bond mostly drank whiskey in Ian Fleming’s original books.