Did You Know That...

Container futures plunge on falling spot rates and ceasefire fears:
Investors are concerned about the potential Israel-Hezbollah ceasefire, which might lead to an earlier-than-expected resumption of navigation through the Red Sea. This uncertainty has spooked the market, with Maersk reportedly lowering its quotes for early December sailings.

US port strike timing could align with Trump’s presidential transition:
The looming ILA dockworkers’ strike on January 16 could coincide with Donald Trump’s return to the White House, potentially causing an economic crisis. The NRF’s Jonathan Gold warns this timing could severely impact US ports on the east and Gulf coasts.

• Sanctions and Hong Kong's evolving shipping landscape:
  While Trump's policies may bring new unilateral sanctions, Hong Kong still offers trade growth opportunities, thanks to its gateway status to China and skilled workforce. However, US allegations of Hong Kong being a hub for sanctions evasion with Russia, Iran, and North Korea have raised tensions.

• Trump reignites trade wars, targeting Canada, Mexico, and China:
  Tariffs of 25% on goods from Canada and Mexico, and an additional 10% on Chinese imports, will be enforced on January 20. These actions are anticipated to disrupt shipping and trade dynamics significantly.

• Asia-US west coast container rates continue to fall:
  Despite talks of cargo frontloading ahead of potential tariffs and strikes, spot freight rates on this route remain weak. Overcapacity in the Pacific may be a contributing factor.

• MSC expands its 2025 standalone network:
  MSC has updated its 2025 proforma schedule, adding new port calls across Asia-Europe, transpacific, and Indian subcontinent routes. This move emphasizes its strategy to offer more port pair options for shippers.

• Evergreen to establish its first dedicated terminal in Singapore:
  The Taiwanese carrier has entered into a joint venture with PSA to solidify its presence in Southeast Asia.

• Egypt and UAE collaborate on East Port Said economic zone:
  AD Ports Group has partnered with the Egyptian government to develop a strategic zone near the Mediterranean entrance of the Suez Canal.

• EU ETS surcharges to double in January:
  Hapag-Lloyd has informed customers of a significant increase in sustainability-related surcharges as the EU’s emissions trading system expands its scope.

• Budapest to get a new intermodal terminal:
  Kazakhstan Railways and Xi'an Free Trade Port Construction are collaborating on a cargo terminal project in Budapest, enhancing connectivity.

• DYKT Weekly Newsletter:
  Stay updated! Visit eaanetwork.com/industry-updates for weekly insights and news.

• Sportswear market sees rising challengers:
  On and Hoka are gaining ground on giants like Nike and Adidas. On, a Swiss brand founded in 2010, saw a 32% revenue growth in Q3, now valued at $17bn.

• Thanksgiving Day in the USA:
  A day of gratitude and celebration of family, friends, and the fall harvest. Happy Thanksgiving to all our friends in the USA!

Have a great rest of the week ahead!