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Welcome back to Rhenus Monthly Market Intelligence：
OCEAN FREIGHT MARKET NEWS
A. In container shipping: Asia-North Europe trade sees Q4 growth, easing carrier struggles, but risks remain due to upcoming new build capacity. Asia-Europe westbound trade anticipates 2.9% growth in H1 2024, while transpacific eastbound trade expects 4.6% YoY growth. Secondary trades from Asia to Latin America, Africa, the Middle East, and the Indian sub-continent surge, accompanied by rate increases. (Source: TheLoadStar)
B. The Maritime and Port Authority of Singapore (MPA), the Port of Rotterdam Authority (PoR), and 20 partners in the Green & Digital Shipping Corridor are collaborating to cut international shipping emissions by 20%-30% until 2030. The agreement was made in the third Green Corridor workshop, which was formed in August 2022 to bring together supply chain partners to achieve zero and near-zero emissions shipping on the Rotterdam-Singapore route, with the ultimate goal of reaching net-zero emissions by 2050. (Source: ContrainerNews)
C. Singapore's Maritime and Port Authority (MPA) is pioneering a ground-breaking digital bunkering initiative starting from November 1. This initiative establishes Singapore as the world's first port to use electronic bunker fuel delivery notes, replacing physical documents. Fuel suppliers, ship owners, operators, and crew will adopt MPA-approved mobile and cloud-based applications for completing bunkering documents. (Source: HellenicShippingNews)
D. China’s state-owned players’ increased stakes in European ports with the investments in some 31 container seaport terminals in Europe and the Mediterranean. COSCO Shipping Ports (CSP) now holds shares in eleven terminals in seven European countries (Belgium, Germany, Greece, Italy, the Netherlands, Spain and Turkey). Besides CSP’s 11 terminals, fellow state-owned company China Merchants Port Holdings has invested in nine terminals, with a greater focus on southern European ports (France, Greece, Malta, Turkey, and the Netherlands). (Source: ContainerNews)
E. Upcoming capacity for November 2023
(Source: Sea-Intelligence Maritime Analysis)
AIR FREIGHT MARKET NEWS
A. Preliminary figures for week 42 show a +1% increase in tonnages and in global average rates, compared with the previous week. That follows a +4% WoW recovery the previous week following a -6% drop during the first full week of October, corresponding with China’s Golden Week holiday break. (Source: WorldACD)
B. Excavations have started for a new airport in Poland that aims to form part of a transport hub for central and eastern Europe. The CPK airport is being built around 40 km outside Warsaw, which is planned to open in 2028. So far, over 1,000 ha of land have been purchased by CPK under a Voluntary Acquisition Programme. (Source: AirCargoNews)
C. Lufthansa Cargo is increasing its freighter flights to Mexico and Asia as the two destinations remain “attractive” and “economically strong”. On its long-haul cargo network, the carrier plans to increase frequencies to Tel Aviv, Cairo, Hong Kong and Mexico City. New additions to the schedule are Riyadh and Taipei. To Tel Aviv (TLV) and Cairo (CAI), Lufthansa Cargo will operate three weekly B777 freighter services from October. Towards Asia, the frequency to Hong Kong (HKG) will be increased from six to seven weekly flights by routing via Mumbai (BOM). (Source: AirCargoNews)
D. LATAM Cargo has launched a new route between Brazil and the Netherlands that will target the pharma market and provide a faster connection. The new service would operate twice per week between Amsterdam and Curitiba utilising one of its Boeing 767 freighter aircraft. The service is aimed at “strengthening connectivity between Europe and South America while reducing transportation time through a more direct alternative and providing enhanced capacity for clients”. (Source: AirCargoNews)
RAIL FREIGHT MARKET NEWS
A. A new rail logistics terminal in Kazakhstan’s Almaty has entered the construction phase. The project is developed by KTZ together with China’s Xi’an Dry Port. The purpose is to create a terminal that will function as a platform serving e-commerce volumes. (Source: railfreight.com)
B. The Kazakh Transport Minister, Marat Karabayev, disclosed that six EU countries, including Austria, Germany, Lithuania, Latvia, Estonia and Hungary, have recently expressed interest in becoming official members of the Trans-Caspian International Transport Route (TITR) association. The news comes in the backdrop of developments concerning the major energy project Hyrasia One in Kazakhstan that could ignite the launching of new transport links to Europe. (Source: railfreight.com)
C. Kazakhstan, Azerbaijan and Georgian railways sealed a deal to establish a joint venture on a parity basis. The new company will be named ‘Middle Corridor Multimodal Ltd.’ and will provide “services on a one-stop-shop principle, guarantee delivery times, and pursue a coordinated policy for developing multimodal service in the direction of China – Europe and Turkey – China.” (Source: railfreight.com)
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