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Aperture & Focus 2024: Week 42
Oct. 17, 2024
Aperture & Focus
Global Aperture
The introduction of new ships into the maritime shipping market in 2025 is expected to ease capacity constraints, offering businesses more opportunities to navigate carrier alliances strategically. However, a partial or full return to the Suez Canal could shift market dynamics as tonnage and capacity increase.
The inaugural Freight Fraud Awareness Day, held on October 15th, tackles the rising issue of fraud, including double brokering and cargo theft. These activities cost the logistics industry up to $700 million annually, leading industry leaders to push for better transparency and stronger enforcement against these fraudulent activities.
Regional Focus
Americas
United States: Hurricane Milton had made landfall as a Category 3 hurricane on the Gulf coast of Florida on Oct 10th. Ports affected by the hurricane, including Miami, Savannah, and Charleston reopened on October 11th.
On October 15th, The Federal Aviation Administration initiated an audit of runway incursion risks at the 45 busiest U.S. airports following a series of near-miss incidents. The review aims to improve safety by identifying gaps in procedures, equipment, and processes, while addressing air traffic controller staffing shortages that have impacted airport operations.
Canada: The Longshoremen’s Union Local 375 at the Port of Montreal began an overtime strike on October 10th and it has continued through Oct 16th. The strike comes as negotiations over a new contract remain stalled, with around 10 ships expected to be impacted while the union and employers attempt to reach an agreement.
Mexico: In August 2024, trade between the U.S. and Mexico reached $73.77 billion, 4% higher than the same time last year. Mexico has been the top trading partner of the U.S. for eight months in a row, and Port Laredo in Texas has become the largest U.S. trade gateway, passing the Port of Los Angeles.
Asia-Pacific
The Red Sea crisis and an early peak season have shifted competition among South-east Asian transshipment ports like Singapore, Port Klang, and Tanjung Pelepas toward greater cooperation to handle increasing traffic. Despite the traditional rivalry between these ports, they have had to collaborate more closely by sharing workloads and adjusting schedules to manage delays caused by external events.
China: During Hong Kong's 2024 policy address on October 16th, initiatives to strengthen the air cargo and logistics sectors were announced. The initiatives include the development of four logistics sites and enhancing cross-boundary logistics through key infrastructure like the Hong Kong-Zhuhai-Macau Bridge.
Singapore: Changi Airport has opened a new air logistics facility within the Changi Airfreight Center, adding nearly 8,000m² of warehousing space. The facility will enhance cargo handling capabilities by adopting automation technology and support Changi Airport's growth as a major air cargo transshipment hub.
Taiwan: A vessel docking to unload a pair of new cranes at Keelung Port accidentally knocked over an existing crane on Pier 20 on October 14th. The port has rerouted berthing operations to Pier 19 while the area is being cleared, resulting in temporary delays.
Europe, Middle East & Africa
Austria: Vienna Airport has earned the International Air Transport Association (IATA) Center of Excellence for Independent Validators (CEIV) lithium battery certification, positioning it as a secure and efficient hub for transporting lithium batteries. This certification reflects the airport’s commitment to high safety and quality standards as global demand for lithium battery transportation increases.
United Kingdom: The rail terminal at the Port of Southampton has handled over 55,000 containers in the six months since its expansion and upgrade six months ago. The terminal increased freight capacity by moving more containers via rail, resulting in congestion being reduced by removing approximately 16,000 trucks from roads and lowered carbon emissions.
Terminal operator DP World has confirmed plans to proceed with the construction of the fifth and sixth berths and a second rail terminal at London Gateway. This expansion is expected to make London Gateway the largest container port in the country within five years.