Did You Know That…

• Trump Victory May Bring Major Tariff and Sanction Changes: With Donald Trump’s second presidential term, the global shipping landscape could see significant shifts. Higher tariffs might initially boost demand but ultimately reduce container volumes. On sanctions, easing restrictions on Russia could impact tanker shipping. The US stock market surged post-election, though shipping stocks did not follow suit.

• Trump's Influence on COP and the IMO's Future: Trump's re-election could affect international climate commitments. While the immediate risk of changes to shipping-specific climate regulations is low, Trump’s stance may impact the UN COP29 summit, set to begin Monday in Azerbaijan, with the US pulling back from its climate commitments.

• Global Trade Wars Threaten Globalization: The world faces potential trade conflicts reminiscent of the 1930s, with Trump’s support for tariffs fueling the tension. Expected trade disputes could involve reluctant blocs like Beijing and Brussels, who advocate for open markets and fair competition, even if forced to defend their economies.

• Hapag-Lloyd’s $4bn Newbuilding Contracts and Competitor Orders: Germany’s Hapag-Lloyd has placed its first containership orders in three years, adding to 2024’s near-record 4 million TEU of combined newbuilds. Other major players, such as Maersk and MSC, are expected to announce new contracts soon.

• Maersk Expands Supply Chain Infrastructure in Asia: Maersk has launched its largest distribution center in the Philippines and its first own-licensed bonded warehouse in Vietnam. Maersk CEO Vincent Clerc emphasized the company’s goal of achieving organic growth in logistics as a top priority.

• Kazakhstan’s Railways Modernize with Alstom Partnership: Kazakhstan Railways (KTZ) signed an agreement with Alstom in Paris to introduce modern rail technology. This development will support container transport on the New Silk Road’s Middle Corridor.

• Philippines Intercepts Illegal Frozen Mackerel Shipment: The Bureau of Customs in the Philippines recently seized 21 containers of frozen mackerel from China at Manila’s International Container Port on October 30 due to missing import clearance.

• Interesting Trump Fact: When first elected in 2016, Donald Trump became the first US president with no prior military or government service.

Have a great week ahead