Did You Know That...

• The impact of Trump’s tariffs on American businesses:
  Businesses face options like hoarding goods, raising prices, or rewiring supply chains. Tariffs on America’s northern and southern neighbors could devastate American companies.

• Container rates remain mixed amid strike prep and tariffs:
  Spot rates from Asia to the US continue to decline, while rates to Europe rise. The Shanghai Containerised Freight Index rose this week, driven by European rate strength.

• Asia-Europe carriers see rate hikes:
  Early December general rate increases (GRIs) stuck, with rates for Shanghai-Rotterdam rising 19% week-on-week to $4,775 per 40ft, while Shanghai-Genoa saw a 22% increase to $5,496 per 40ft. Carriers like ONE are already raising rates to $6,000 per 40HQ after December 14.

• Indian port strike threat eases:
  Fears of a nationwide strike by unionized dockworkers in major Indian ports have subsided as labor groups step back from a planned December 17 stoppage.

• Airfreight demand soars in Q4:
  High demand across Asia-UK, Europe, and trans-Pacific routes, driven by e-commerce, has created a “record peak season” for air cargo. However, sustaining this growth next year may be challenging.

• Ocean carriers emerge as financial winners:
  Despite a volatile year, substantial rate increases in both ocean and air freight have made carriers the biggest financial beneficiaries.

• Transpacific carrier supremacy:
  CMA CGM edged out Maersk as the largest transpacific carrier, holding a 13.2% market share. Wan Hai Lines and Zim recorded the fastest growth on this trade route.

• Evergreen considers move from Tanjung Pelepas to Singapore:
  Speculation is mounting that the Taiwanese operator may shift operations from Malaysia’s Port of Tanjung Pelepas to Singapore.

• US port strike looms for mid-January:
  Cargo loaded in Asia is at risk due to the unresolved automation dispute between US east and Gulf coast dockworkers and terminal employers.

• ONE acquires stake in Jakarta terminal:
  Ocean Network Express has expanded its Southeast Asia presence with a minority stake in New Priok Container Terminal One (NPCT1) in Jakarta, Indonesia.

• CMA CGM strengthens Red Sea logistics:
  The container line signed an MoU with Saudi Arabia to develop port infrastructure and logistics projects during French President Emmanuel Macron’s visit.

• China supplies flat wagons to Cambodia:
  Cambodia’s Royal Railway received 60 flat wagons from China, capable of transporting containers, heavy machinery, and construction materials.

• Shipping faces new risks amid Syria crisis:
  With Bashar al-Assad’s regime collapse, Iran’s “dark fleet” faces challenges in continuing operations. India advises seafarers to avoid travel to Syria.

• Syria crisis impacts Russian naval ambitions:
  The fall of Syria’s Assad regime endangers Russia’s 50-year naval presence in Tartus, a key Mediterranean port.

• Red Sea shipping crisis and Syria’s regime change:
  Assad’s downfall adds uncertainty to Red Sea shipping detours. Experts urge caution, linking Syria’s crisis to broader geopolitical tensions.

• FMC delays Premier Alliance approval:
  The alliance of ONE, HMM, and Yang Ming is set for a February 2025 launch, but the FMC has requested more data, adding a 45-day review period.

• Ecuador port enhances Asia trade connectivity:
  Contecon Guayaquil (CGSA) strengthens Ecuador-Asia links with a new Asia-South America (ASA) service agreement.

• Russian businesses feel war’s cost:
  High interest rates, currency declines, and labor shortages are taking a toll. The MOEX stock index has fallen by almost a third in six months, with corporate bankruptcies rising.

• Leonardo da Vinci’s “Mona Lisa” has no eyebrows.