Did You Know That…

…Are container rates rebounding or is SCFI ‘overoptimistic’?

·  SCFI Shanghai-Los Angeles index jumps 23% to $2,647 per feu, although other indicators do not show an increase in spot rates

·  Latest US-China trade détente boosts sentiment ahead of November 1 GRIs but cargo demand upside is expected to be muted

·  Asia-Europe rates rise as carriers seek to defend spot pricing ahead of the next round of annual contract talks

The Shanghai Containerized Freight Index is showing a material rebound in transpacific spot rates. It may be incorporating gains that have yet to appear in other data sources, or it may be overshooting.

…Spot rates lifted by GRIs, but carriers discount 'to backfill half-empty ships'. Container spot freight rates on the main east-west deepsea trades saw some uplift this week from the 1 November general rate increases (GRIs), although the gains were inconsistent, and some suffered almost immediately from carrier discounting.

…China Plus One strategy hangs in the balance amid US-Vietnam tariff discussions.

·  New trade deal expected between the US and Vietnam

·  20% tariffs on Vietnam could challenge strong growth in exports to the US

·  But some goods could be exempted from tariffs

Meanwhile, China finds a new home in Europe to offset lost exports to the US.

…CMA CGM accused of cashing in on Tanzania troubles with surcharges. African forwarders have slammed CMA CGM’s port congestion surcharges (PCS) in Mozambique announced this week as a “cynical” way to capitalise on the post-election chaos enveloping Tanzania.

…This week, FS International marked their presence at the 8th edition of the CIIE (China International Import Expo) in Shanghai. This great event is a fine podium to promote the group activities of FS like the Qianhai MCC consolidation, Sino-Shipping, CAN and MorePlus. Live photos of the event you can find on the link [https://lnkd.in/g4NHsvdA]. FS teams from Hong Kong, Shenzen, Guangzhou (special thanks to Bella for the hosting), Qingdao, Tianjin, Shanghai and Ningbo were there to promote their services and drive logistics forward. It was my pleasure and honour to represent our network at the CIIE and to address a speech about the EAA Network and collaboration with FS International and MCC Qianhai.

…China’s Belt and Road Initiative is booming again. In a Trump-troubled world, China’s leader still sees opportunities in poor countries. America is still the single biggest destination for Chinese exports of goods. Yet its share of China’s shipments has fallen sharply since trade tensions soared during Mr Trump’s first term as president, from nearly 20% in the first nine months of 2018 to less than 12% in the same period this year. The global south is taking up the slack. Year-on-year exports to ten members of the Association of South-East Asian Nations (ASEAN) grew by 15% in September, as they did to countries in Latin America. China’s exports to Africa jumped by nearly 57%. According to S&P Global, a financial-data firm, the global south took 44% of China’s exports in 2024, up from 35% in 2015. This group of countries also accounts for more than half of China’s global trade surplus. (America’s share is 36%.)

…Rotterdam, Duisburg boost cooperation. The ports of Rotterdam and Duisburg have signed a new letter of intent to strengthen their cooperation on sustainable transport corridors.

…US and China pause port levies for one year after Trump-Xi meeting in Busan.

·  US and China agree to suspend port fees for one year following a meeting between the countries’ leaders

·  Move signals temporary easing of trade tensions, though details on timing and possible refunds remain unclear

·  Other agreements include tariff cuts and a pause on new export-control measures on both sides.

A moment of restraint in US-China trade tensions saw both sides freeze port levies and trim tariffs following a leaders’ summit in Busan.

…A chilling cargo case in Chile. It may sound like a Halloween prank, but it’s all too real: Around 30 human legs, shipped from the US for medical training, have been stranded for over a year in a refrigerated warehouse at the airport of Santiago de Chile (SCL). A heart that made history: In 1967, surgeons in Cape Town performed the world’s first human heart transplant – using the heart of 24-year-old Denise Darvall, who had been fatally injured by a truck while crossing a street. The operation marked a turning point in medical history. The heart that once beat inside Denise now rests preserved in the very operating theatre where the pioneering procedure took place.

…100 grams of salami contain around 40 milligrams of vitamin C — nearly four times as much as the same amount of an apple.

…This DYKT news bulletin will be published on the website as well, go to www.eaanetwork.com.

Have a good rest of the weekend!