OceanX Reads / Industry Insights02-06-2024
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OceanX Reads / Industry Insights02-06-2024

Our weekly to twice weekly reads, are a collection of commented links to interesting industry news and market developments, around oceanfreight and technology. Some of our comments are slightly sarcastic but always honest. Besides informing our members about what is going on and providing some industry insights, they are also always an invitation to start a dialogue on any of the subjects.   

June 2nd 2024

Good afternoon,

And welcome in June.

With India and South Africa two of the many elections this year are in again and whilst India looks likely to continue on its path with same leadership under Modi, South Africa becomes a bit more messy as ANC needs to find a coalition partner. Let’s hope along that way, they get electricity and their ports in order.

Rates continued rising again this week and an end to the boom is currently not yet in sight. There was more interesting press lately arguing that especially on transpacific it being mainly a restocking trend as importers were cautious during 2023.

Remaining in the US, a crackdown of customs authorities on customs clearance providers for Chinese eCommerce has slowed down things and is expected to remain more harsh on certain goods. In fact the trade war seems to continue on all fronts, as on the other China continued to dump US debt during May. Meanwhile China’s trade with the rest of the world, outside US and Europe continues to grow.

Schenker sale has officially moved into the next round, with CVC, Maersk, DSV and Saudi Arabia’s Bahri, still in the race.

Off to the UK next week, looking forward to catch up with many members and friends in London, Ipswich, Birmingham and Manchester! On June 11th, I’ll be at Multimodal all day, text me if you have time to catch up.

Enjoy the reads,

Cheers Ruben

PS: Members, please remember registering for #como2024 and reserving your room. Rooms are limited and room rates go up after June: https://agm.oceanx.network