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Aperture & Focus 2024: Week 44

Global Aperture
Air cargo tonnages from Hong Kong to Europe have surged to their highest levels of the year, indicating a strong recovery and increased demand following the early-October Golden Week holiday. Meanwhile, tonnages from the Middle East and South Asia to Europe have declined significantly due to heightened geopolitical tensions in the region.
Port of Shanghai and Hamburg Port have pledged to collaborate on establishing a green shipping corridor between their ports on October 24th, aiming to reach carbon neutrality. Shanghai Port is also collaborating with the Port of Los Angeles and the Port of Long Beach for similar projects across the Pacific.
Regional Focus
Americas
United States: On October 25th, International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) announced that Master Contract negotiations will resume in November, with a January 15, 2025 deadline. The recent three-day ILA strike, which halted operations at 36 ports, ended after an extension of the current contract was brokered, allowing discussions on critical issues like wages and automation to continue.
The Port Authority of New York and New Jersey reported record activity at its commercial airports, marking its busiest September. Meanwhile, its seaports handled 779,388 TEUs (twenty-foot equivalent units) for its second-busiest September on record, highlighting a notable rise in cargo throughput compared to previous years.
Panama: Despite facing a severe drought that limited the number of ships passing through, the Panama Canal reported a increase in profit for the fiscal year ending in September. While implementing cost-cutting measures and establishing environmental initiatives, the canal authority is filling less than 36 passage slots per day.
Asia-Pacific
Strong demand for e-commerce and new electronics is driving airfreight demand across the Asia Pacific region. However, airlines’ prioritization of long-haul shipments has created congestion on intra-Asia routes due to limited capacity.
Singapore: Changi Airport reported a 13.5% increase in cargo volume in Q3 2024 driven by strong trade flows with China and the U.S. The addition of routes to multiple Chinese cities and new logistics facilities with direct airside access has notably sped up cargo processing times.
India: Vizhinjam International Port has implemented an AI-driven Vessel Traffic Management System (VTMS) to efficiently manage vessel traffic and improve turnaround times. Developed in collaboration with the Indian Institute of Technology Madras, this locally made system is set to enhance both safety and capacity at the port.
Europe, Middle East & Africa
Brussels Airport (BRU) in Belgium has become Europe’s largest pharma export hub, while Frankfurt Airport (FRA) closely follows, handling 125,000 tons of pharmaceutical cargo annually. However, inconsistent enforcement of EU regulations and customs delays, especially at Frankfurt, are creating obstacles for timely pharma shipments.
Italy: KWE has been informed that starting November 1st, carriers will implement a congestion surcharge for all land transport services to and from the Port of La Spezia, following a similar charge introduced for the Port of Genoa in June. This fee aims to address the disruptions caused by critical infrastructural deficiencies in the road and motorway networks and to ensure road transport companies contribute to the additional costs arising from Port of La Spezia terminal operations. CMA CGM has postponed the congestion fee to November 4th, with an additional application date of November 13, 2024, for shipments to the U.S.