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MAERSK INVESTS €10M IN SPANISH GREEN HYDROGEN MEGAPROJECT

MAERSK INVESTS €10M IN SPANISH GREEN HYDROGEN MEGAPROJECT

After signing a collaboration contract with the Spanish Government, the Danish marine transport giant Maersk will invest over 10,000 million euros to start a green hydrogen “megaproject.”

The goal is to stimulate the production of green hydrogen and biofuels in the Spanish maritime industry and to transform the nation into a global hub. Since they would be able to accommodate two plants for the production of green fuels and are promoted as strategic locations for the development of a global network to promote the production of sustainable fuels for maritime transport, the development of this project would specifically take place in two port areas of Andalusia and Galicia, which are still to be determined.

The Danish business will like to produce two million tons of green methanol for maritime transportation by 2030. Three stages would be involved in the development; the first would see 200,000 tons of green methanol produced up until 2025; the second would see a million tons produced by 2027; and the third would see two million tons of green methanol produced by 2030.

The initiative would include every step of the value chain, from the creation of renewable energy to “bunkering.” A complete green hydrogen ecosystem will also be developed by the shipping firm in collaboration with academic institutions, regional businesses, and other partners.

The project is anticipated to create about 85,000 employment, both direct and indirect, during the construction phase, and the government does not exclude out participating as a strategic investor in it.

The project will aim to use current European monies to promote green hydrogen in addition to the potential government investment. The parties have completed a preliminary analysis of the project’s competitiveness and are currently working on a final assessment with the goal of promoting its development by the middle of next year.

PortMiami welcomes largest containership ever

With a capacity of 15,536 TEU, the Osiris is a Neo-Panamax vessel currently on the Manhattan Bridge shipping route connecting China to US East Coast Ports.

“I am so proud of PortMiami, and what it has accomplished following years of infrastructure investments made by Miami-Dade County”, said Miami-Dade County Mayor Daniella Levine Cava.

“As an alternative to West Coast traffic, PortMiami offers shippers the advantage of open express access to deep-water docks, super post-Panamax electric cranes, a port tunnel with direct highway access, and a national freight rail connection reaching most of the US within four days, in addition to its daily link to Latin America and the Caribbean.”

Since the beginning of the year, PortMiami has serviced three of the largest CMA CGM ships, each with a capacity of more than 13,000 TEU – the CMA CGM Argentina followed by the CMA CGM Magellan, and CMA CGM Christophe Colomb.

The Osiris is expected to move over 1,000 containers through the South Florida Container Terminal (SFCT), one of PortMiami’s cargo operating terminals.

In October, PortMiami Crane Management, Inc., (PMCM) appointed PACECO MOMENTUM to install the digitalisation tool PACECO SPYDER on three additional Ship-to-Shore (STS) cranes.

In the future, installation will be implemented on a further two for a total of 11 transformed cranes.

PortMiami welcomes largest containership ever
Optimising digitalization for tangible sustainable logistics

Optimising digitalization for tangible sustainable logistics

The prioritization assigned to sustainability by businesses is becoming emphatically more focused and strategic. With the shift in preference for environment-friendly products, green-aware customers are demanding more information to gauge the sustainability of the overall supply chain of the products they purchase. Such as the raw materials used, the conditions under which it was manufactured and produced and the logistics operations of the movement of this product throughout its supply chain. Additionally, businesses are also under pressure from regulators and investors to divulge their sustainability strategy, initiatives and results.

At present, intelligent supplier management, i.e., considering carbon emissions alongside price and delivery time as a selection criterion for suppliers, is becoming a decisive competitive advantage for businesses. Furthermore, increasing their scope of monitoring the working conditions and impact within their own supply chain and their direct suppliers, companies have also taken into consideration their downstream suppliers as well. Thus, transparency is key as businesses are trying to implement sustainability strategies that encompass the entire value chain of their products.

As an enabler of global trade, logistics plays an important role in the growth of businesses across any industry. However, it also generates an unsustainable footprint. In 2020, the logistics sector contributed up to 21% of the total carbon dioxide emissions around the world. With the rise in demand from customers, pressure from regulators and investors and the new green supply chain laws, sustainable logistics is a must for companies.

Sustainable Logistics

The supply chain consists of two facets – the physical and the digital supply chain. The physical supply chain involves the storage and movement of cargo through various transportation mediums and facilities until it reaches the final destination. Whereas the digital supply chain deals with storage and movement of relevant documentation through various platforms and tools for booking, permits, re-scheduling, tracking and monitoring etc until the arrival of the cargo at the final destination.

When considered in this manner, there are a plethora of initiatives that can be undertaken by businesses for both aspects. On the physical supply chain side lies the use of alternative greener fuels like bio-fuel, electric vehicles or alternative energy sources like solar power to name a few. When it comes to the digital front, there are already a great number of innovations being explored to make trade paperless through the use of automation, machine learning and blockchain technology. Digital tools also helps businesses keep track of their sustainability metrics and measure of impact and supports more accurate reporting.

Although there is an increased awareness and willingness from businesses to undertake necessary sustainable actions, there are still some challenges in the use of as well as in scaling up green offerings.

Challenges in Going Green

  • Limited infrastructure to support green offerings globally, i.e., Limited availability of facilities for green fuels, energy, vehicles and equipment etc at landing or transit hubs like airports and ports
  • Higher cost of sustainable solutions. For instance, the price of biofuels is still higher than that of conventional fuels
  • Lack of an industry-wide global standard for green supply chains

But digitization can also be leveraged by businesses from the outset in order to undertake the requisite sustainability initiatives, based on accurate data analysis, that can have a larger positive impact while also optimising their costs, time and efforts.

How can digitization support the sustainability agenda of a business?

The implications of digital tools and innovations on sustainability is enormously advantageous for businesses. In general, sustainability initiatives or improvements requires a certain level of investment by businesses. And even if some businesses are ready to pay a premium for sustainable practices, the rising costs of energy, assets and employee wages have made them be more cautious of their expenditure.

As a result, businesses seek an accurate analysis of their carbon footprint in order to help them optimise their investment and ensure that their chosen sustainability strategy has the most meaningful impact. Most supply chains are fragmented and thus highly complex due to the larger number of stakeholders and logistics nodes involved. The resulting multitude of data points translates to a higher complexity in gauging the impact of a business’s operations in terms of sustainability.

Maersk’s Emissions Dashboard is an interactive sustainability tool that provides businesses with an overview of their carbon footprint across their entire value chain and trade channels. It is a neutral single window that consolidates the emissions data across all carriers and transportation modes, be it Maersk or a third party. What’s more, it follows an industry leading calculation method that is GLEC-compliant, so that businesses can set science-based targets for the future as well.

Sustainability tools like Maersk’s Emissions Dashboard gives businesses better control over their supply chain, and it can also be utilized to gain a more in-depth view of where the sustainability gaps lie. With this higher level of transparency, businesses can implement intelligent sustainability strategies to help them achieve science-based targets while also reducing their costs and improving their bottom lines.

Maersk sees container demand slowing as recession looms

Shipping group Maersk (MAERSKb.CO) warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations.

“It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and easing of supply chain congestion,” Chief Executive Soeren Skou said in a statement.

The company’s shares were down 4.4% at 0839 GMT, and have now fallen 38% since hitting a record high of 24,920 Danish crowns on Jan. 13.

The Copenhagen-based company, one of the world’s biggest container shippers with a market share of around 17%, is often seen as a barometer of global trade.

“With the war in Ukraine, an energy crisis in Europe, high inflation, and a looming global recession there are plenty of dark clouds on the horizon,” Skou said.

Maersk now sees global container demand falling by 2% to 4% this year, citing an unfolding economic slowdown expected to continue into 2023. Its previous guidance was for an outcome towards the lower end of a range of minus 1% to plus 1%.

Freight rates surged in step with higher consumer demand during the pandemic, resulting in congested ports and delays, and while those rates have since come down, containers still cost more to ship than before the pandemic.

Maersk sees container demand slowing as recession looms
Climate change will impact port infrastructure in the coming decades

Climate change will impact port infrastructure in the coming decades

A scientific publication led by the academic from the University of Valparaíso and researcher from the ANID CIGIDEN Center, Patricio Winckler, addressed the impact of climate on the operating conditions of seven large state ports in Chile, a system that plays a strategic role for our integration with the world, since it transfers approximately 90% of international trade.

As a whole, the Chilean port system is made up of 28 major ports, 19 of which are exposed to the Pacific Ocean. During tidal waves, port operations at these ports are suspended to ensure the safety of ships, cargo and workers. This phenomenon, however, has been little studied to date, even though the costs associated with port closures amounted to 345 million dollars for the national economy in 2020 alone.

The recent study “Impacts in ports on a tectonically active coast for climate-driven projections under the RCP 8.5 scenario: 7 Chilean ports under scrutiny”, published in the scientific journal Coastal Engineering Journal, aims precisely at understanding how climate change would affect the system port.

Specifically, Winckler, together with the UV ocean civil engineers, Javiera Mora and César Esparza, the UV Ocean Civil Engineering professor Manuel Contreras-López, and academics from the UC and the University of Davis, calculated the impact on port operations due to eventual port closures and the effects that swells and sea levels can generate on port infrastructure under a pessimistic climate change scenario (RCP 8.5).

· Historical evidence The study begins by showing that port closures amounted to 17,153 hours in the ports analyzed between 2008 and 2018, which implied annual losses of 18 million dollars only for dockage and cargo transfer services in the cases analyzed. These values ​​do not consider the costs associated with the entire logistics chain of merchandise transport and, in short, translates into an increase in prices. “In just one decade, port closures increased from 17 hours in 2008 to 3,022 hours in 2018 in all the sites analyzed, which could be associated with an increase in the frequency of storm surges and greater demands to guarantee the safety of the ports. maneuvers of the large container ships that arrive in Chile”, explains Patricio Winckler. The analysis also shows that, although the northern ports are quite far from the wave generation areas in the South Pacific Ocean, they were the most affected, with 310, 100 and 1,088 hours per year for Arica, Iquique and Antofagasta, respectively. . Ports located in the central and southern regions of Chile, in contrast, had comparatively less downtime.

· Port operational conditionsTo assess the effects associated with climate change on port operations, the team calculated the wave climate for a historical period (1985-2004), mid-century (2026-2045) and end of the century (2081-2100), with a generation model for the entire Pacific. According to the Valparaíso University expert, this statistic was then transferred to each port using spectral models that rescue coastal propagation processes, where downtime was calculated by comparing wave heights with minimum criteria that allow access maneuvers. , mooring and permanence of ships in the mooring sites. The results show that some ports would reduce and others would increase downtime for mid-century projections due to local effects. Thus, operating conditions would deteriorate in the ports of Iquique and Antofagasta, would improve slightly in Valparaíso and San Antonio, and would improve significantly in San Vicente. Arica and Coquimbo would not experience relevant changes. “By the end of the century, however, all ports would experience an improvement in operational conditions, since, with climate change, the average waves will be generated further south, reaching the coasts of central and northern Chile, with less Energy. That translates into a reduction in the expected number of port closures and an associated economic benefit,” explains Winckler. The CIGIDEN expert complements that in the next 30 or 40 years, the climate system will be displaced to the south and the waves, on average, will reach the central zone with a little less energy. “That could be probabilistically beneficial, because the amount of swell could eventually decrease, which could lead to an improvement in the operational conditions of some ports.”

· Structural damageFrom the point of view of port infrastructure, Winckler warns, we are going to experience a rise in sea level which, combined with tidal waves, will result in a greater overpass and therefore greater structural damage to shelter works, which meet the function of reducing the action of the waves and, eventually, the wind of the port works. “This generates economic losses associated with the repair and lost profits. In addition, the overcoming of the waves would reduce the safety of pedestrians on seafront promenades and of workers in port areas”, he warns. The CIGIDEN expert indicates that the preventive maintenance and repair of existing works should be a priority for State agencies and concessionaires: “We must review those structures that are very old and have been hit by large earthquakes, tsunamis and tidal waves in Chile and Based on this, define adaptation measures”. The engineer concludes by exhorting the world of academia and consultancy to abandon the traditional design procedures for port infrastructure and incorporate climate change in the definition of the design conditions for future works.

Panama Canal reports drop in container cargo transiting through its Neopanamax locks

The Panama Canal reported a surprising drop in container cargo transiting its Neopanamax locks during fiscal year 2022 (which runs from October to September), falling from 51.2 million to 50.2 million. By contrast, the amount of containerized cargo transported through the traditional locks increased from 10.0 million to 12.1 million tons, Alphaliner reported.

The number of transits is similar: the number of container ship trips registered in the “old” locks increased from 1,003 to 1,175 in the year 2022, which represents an increase of 17%. Transits also increase at the neo-Panamax locks, but by a much smaller percentage, from 1,599 to 1,647, or a 3% increase.

Overall, the Canal missed a modest increase in the number of container ships using the waterway (both locks) during the year, despite the frenetic nature of the pandemic trade. Total transits decreased 8% year-on-year to 2,822 as many ships abandoned their regular sailing schedule for more lucrative operations on the trans-Pacific route.

Ballast traffic increased slightly on the Canal, especially northbound, but most of the year’s growth came from northbound cargo traffic, which was up 10% versus 5% southbound.

Panama Canal reports drop in container cargo transiting through its Neopanamax locks
After two years of shipping snarls, things are starting to turn around

After two years of shipping snarls, things are starting to turn around

After two years of port congestions and container shortages, disruptions are now easing as Chinese exports slow in light of waning demand from Western economies and softer global economic conditions, logistics data shows.

Container freight rates, which soared to record prices at the height of the pandemic, have been falling rapidly and container shipments on routes between Asia and the U.S. have also plunged, data shows.

“The retailers and the bigger buyers or shippers are more cautious about the outlook on demand and are ordering less,” logistics platform Container xChange CEO Christian Roeloffs said in an update on Wednesday.

“On the other hand, the congestion is easing with vessel waiting times reducing, ports operating at less capacity, and the container turnaround times decreasing which ultimately, frees up the capacity in the market.”

The latest Drewry composite World Container Index — a key benchmark for container prices — is $3,689 per 40-foot container. That’s 64% lower than the same time last September after falling 32 weeks in a row, Drewry said in a recent update.The current index is much lower than record-high prices of over $10,000 during the height of the pandemic but still remains 160% higher than pre-pandemic rates of $1,420.

According to Drewry, freight rates on major routes have also fallen. Costs for routes like Shanghai-Rotterdam and Shanghai-New York have fallen by up to 13%.

The falling freight rates tie in with a “sharp drop” in container shipments that Nomura Bank has observed.

Nomura, quoting data from U.S.-based Descartes Datamyne, said container shipments from Asia to the U.S. for all products except rubber products in September are down year on year.

“We assume that the sharp drop in container shipments largely reflects US retailers stopping orders and reducing inventories due to the risk of an economic slowdown,” Nomura analyst Masaharu Hirokane said in a note on Wednesday, adding that the bank has yet to see signs of a sharp fall in U.S. retail sales.

Port throughput around the world has also dropped. When Shanghai reopened after its recent lockdowns, port traffic volumes lifted but weren’t enough to offset the “wider downturn in port handling levels,” Drewry said.

What’s different now

In Europe, sliding container prices and rates reflect declining consumer confidence, Container xChange said.

“The European market is finding itself flooded with 40-foot high-cube containers. As a result, the region is experiencing a fall in the prices of these boxes,” Container xChange said.

The trends in logistics and supply chains from the past two years have reversed, logistics companies said. During that period, container shortages were constant as a result of delays at ports affected by lockdowns and soaring demand.

DP World adds new trade routes to open global markets, ease supply chain congestion

UAE-based global logistics major DP World said it added more than 23,000 nautical miles of new trade routes across the globe, including connections between India, Middle East and Africa, and new connections between Latin America, Europe and Asia during January-September this year.

The new routes, which also included multiple new routes connecting smaller ports with Rotterdam in Europe, have enabled opening new trading opportunities for cargo owners, better access to goods and services for underserved populations, besides providing alternatives to globally congested routes and ports across the globe, the company said.

Tiemen Meester, chief operating officer of ports & terminals at DP World, said the new routes provided Central American fruit suppliers access to Asia, the UK and Western Europe, and African citrus growers access to new markets in the Middle East and South Asia.

“We use cutting-edge innovations that create new ways to take goods to market where none exist or add alternatives where supply chains are subpar,” Meester said.

DP World’s route expansions this year also include a new route connecting Ecuador’s fruit and cocoa producers to Asia for the first time.

French shipping line CMA CGM launched a new service in August from DP World Posorja at Guayaquil port, connecting the country to Asia. This new direct connection route uses 11 vessels on rotation, improving transit times to Asia.

After three years of uninterrupted operations at Posorja, the new service will help position Guayaquil and Ecuador as a key hub, not just for the west coast of South America, but also the South Pacific.

The route expansions are part of DP World’s efforts to provide end-to-end logistics solutions, enabling seamless movement of goods from the point of production to the end user through innovative technology and global intermodal transportation services across shipping, rail and road, the company said.

DP World adds new trade routes to open global markets, ease supply chain congestion
Golden Week in China: How logistics comes to a standstill

Golden Week in China: How logistics comes to a standstill

Golden Week is a national holiday in China that lasts for seven days. It is typically celebrated from October 1-7 and is a time for Chinese citizens to travel and visit family. This holiday can have a significant impact on logistics due to the increased demand for travel both within China and internationally.

What is the Chinese Golden Week?

As one of the world’s biggest and most important markets, China faces huge pressure on its logistical infrastructures to maintain a certain level of productivity and efficiency to keep the global supply chain oiled, running, and stable.

From factories and warehouses to ports, terminals, and more, Chinese workers across all logistical sectors clock long hours all year round to ensure the upkeep of the supply network worldwide.

But twice a year, the world’s largest exporter permits itself a break.

Known as the Golden Week in China, there are two such week-long respites in the country — one in each half of the year.

The first, known as the Chinese Lunar New Year Golden Week, is at the start of the year in January/February to give people time off to celebrate the Chinese New Year.

The second, the National Day Golden Week, is part of the country’s national day celebrations and happens in October — right in the middle of the shipping peak season.

Given China’s influence on the global market and world trade, a week-long —albeit anticipated— lull has the potential to cause chaos on supply chain operations and rippling effects and logistical delays around the world.

In this article, we’ll be focusing on the National Day Golden Week in October. But to understand how the National Day Golden Week in China affects logistics, we must first dive into some basic facts about the holiday.

When is the Golden Week in China?

The National Golden Week in China takes place in the first week of October every year to celebrate the founding of the People’s Republic of China.

The Chinese Golden Week runs every year from the 1 October (Tuesday) to the 7 October (Monday).

What happens during the Golden Week in China?

During the Golden Week in China, workers take a break from the hustles and bustles of life. Throngs of travellers crowd trains, buses, airports, to either get home to visit their families or travel.

And while China deals with the travel logistics of its Golden Week, the rest of the world grapples with the impact this has on their supply chain logistics.

Over the course of the Golden Week, factories across the country close and production comes to a standstill. Likewise, at ports and terminals, work and personnel are reduced to the bare minimum.

With operations running at a tiny fraction of full speed, productivity and efficiency levels shrink and it becomes logistically impossible for exporters and importers to get their goods moving into and out of China.

That means that all the action has to take place before the festivities begin.

How China Golden Week affects logistics

In the weeks leading up to the China Golden Week, demand for Chinese exports skyrockets as businesses attempt to get their exports out before operations in China completely shut down.

In response to the activity deficit, shipping carriers often announce service cuts.

At the time of writing, two of the main shipping alliances have announced cuts of 15 weekly sailings from Asia to North America:

  • Nine to the West Coast
  • Four to the East Coast
  • Two to the Gulf Coast

Even post-Golden Week, capacity and personnel often remain limited and production can be slow to pick up. Carriers may also continue to cancel sailings in the weeks that follow.

That said, failure to get your merchandise into or out of China before the festivities may result in dire consequences, as delays from the Golden Week can sometimes last for months.

For businesses, this may translate to potential breaches in contracts, accruing delay fees, low sales figures, and so on.

The Golden Week Effect on Sea Freight, Air Freight, and Rail Freight

The effect of Golden Week on China’s transportation infrastructure is significant.

During Golden Week, China’s seaports and airports are often congested with travelers and freight. For example, the number of containers handled at the Port of Shanghai typically surges during Golden Week. This can lead to delays in loading and unloading ships and in the movement of containers to and from inland destinations.

The increased demand for transportation services during Golden Week can also lead to higher air and rail freight prices. This is due to the limited capacity of these transportation networks and the fact that many freight companies schedule their shipments around the holiday to avoid delays.

Golden Week can also have an impact on global supply chains. Many factories in China shut down for the holiday, which can lead to disruptions in the production of goods exported worldwide. This is particularly true for products that require parts or components from China. For example, the Golden Week shutdown of a factory that produces smartphone cases could lead to delays in shipments of those cases to other countries.

The Golden Week effect is not limited to China. It can also be seen in other countries with large numbers of Chinese tourists, such as Thailand and Japan. These countries often see an increase in tourism during Golden Week and a corresponding increase in the demand for goods and services. This can lead to higher prices for hotel rooms, restaurants, and other tourist attractions.

The Golden Week effect on rates and availability

It is no coincidence that the Golden Week in China takes place during the shipping peak season. In fact, it is considered to be the trigger to the first wave of soaring rates, high demand, low space and equipment availability, roll-overs, and congestions.

“Technically, China’s Golden Week is what kick-starts the shipping peak season. We see the first rate increases as early as July or August as shippers fight for space.

As operations slowly resume after the Golden Week, there’s a second wave of price increases as shipping preparations for Christmas and Chinese New Year get underway.”

— Aliona Yurlova, International Business Development Expert at iContainers

High demand, low space and equipment availability, roll-overs, and congestions are synonymous with both the China Golden Week and the shipping peak season.

But how are they a direct factor of the fluctuating and soaring shipping costs?

High demand and low availability

In the weeks prior to the start of the Golden Week, demand for exports out of China surge.

This is in anticipation of the shutdown as businesses importing from China try to secure a spot on outgoing vessels to ensure their goods are out of the country before production in the world’s largest exporter comes to a halt.

In response to this rising demand, shipping carriers increase spot rates. As of the beginning of September, spot rates from China to the North American West Coast is at its highest level in two months.

Amid this rush, the industry also faces scarcity of containers, slots, truckers, and everything in between. Shippers should be prepared to fork out more to secure not only a slot on a container vessel, but also for the equipment required for their shipments.

The standard General Rate Increases (GRIs) aside, there are also other surcharges to consider.

Given the higher demand for Chinese exports in comparison with Chinese imports, there’s often an urgent need containers to be returned to the terminal to manage the demand at Chinese ports.

This is when carriers begin implementing surcharges such as the Equipment Imbalance Surcharge (EIS) to compensate for the cost of ferrying empty containers back to Chinese ports to meet export demand.

Differing Golden Week strategies by carriers

The import-export imbalance caused by China’s National Day Golden Week also prompts vastly differing rate strategies by shipping carriers.

Despite the falling demand for Chinese imports, larger and more influential carriers, which have the benefit of a superior service (direct routes and shorter transit times) and reputation, tend to maintain their rates instead of lowering them to encourage sales.

In the event that there’s insufficient cargo to warrant a sailing, blank sailings and service cuts are normally announced. This is also to prevent FAK spot rates from falling below market level. As a result, ports often become more congested with rolled containers.

Smaller and Asian carriers, on the other hand, manage the softening import demand by lowering their rates. This is done even at a loss as they expect to be able to recover from the significantly higher rates for Chinese exports.

“Given this scenario, more cargo headed for China end up being booked with smaller carriers offering lower import rates. But given their limited capacity, this often results in the failure to match demand and cargo ends up getting rolled.

It’s this and the larger carriers’ blank sailings that contribute to the congestion we see before the Golden Week in China.”

— Aliona Yurlova

Is the Golden Week relevant only if you ship goods from or to China?

Golden Week is a national holiday in China, and many businesses close for the week. This can lead to disruptions in the supply chain, especially if your business relies on goods from or to China. If you’re shipping goods from or to China during Golden Week, it’s important to plan and allow extra time for delays.

Opportunity for some businesses

For there to be a loser, there must be a winner.

Despite the potential chaos the China Golden Week may cause to businesses, if managed properly, some companies can actually benefit from the operational shutdown in China.

Travel and consumption —both domestic and abroad— soar during the week-long holiday.

In 2021, nearly 700 million Chinese traveled domestically and abroad during the October Golden Week. Most visited neighboring Asian territories including Japan, Thailand, Hong Kong, and South Korea.

Domestically, the Golden Week consumption in 2020 reached $68.8 billion.

As an exporter, getting your merchandise into China and the popular holiday destinations of Chinese tourists in time for Golden Week could help to lift sales.

The boost to these neighboring territories doesn’t only come from the holidaying Chinese.

As Chinese production shuts down, overseas SMEs may begin looking at neighboring countries as an alternative source for their imports.

These are great opportunities for alternative markets and providers. Vietnam, for example, recently signed a free trade agreement with the EU. This may result in a European push towards Vietnamese imports instead of China.

Going by the same logic, SMEs may also turn to their local distributors, given that importing from China during the Golden Week isn’t an option.

Evergreen’s 2nd 24,000 TEU behemoth delivered

Taiwanese shipping firm Evergreen Marine has taken delivery of the second 24,000 TEU containership from Hudong–Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Corporation.

The ultra-large boxship, named Ever Aria, is a sister ship to Ever Alot, which was delivered to the container shipping company in June this year. Both boxships have been flagged in Panama. The duo has claimed the title of the world’s largest containerships.

The delivery was announced on September 13, twelve days ahead of schedule, the shipbuilder said.

Ever Aria is part of nine vessels being built by Hudong-Zhonghua Shipbuilding in China to ABS class.

The 24,000 TEU containerships have been independently designed by Hudong Zhonghua, and they are fitted with a myriad of green features including high efficiency, energy-saving, and safety solutions in line with Tier III emission requirements.

As disclosed, the ships have a bulbous bow design, large-diameter propellers, and energy-saving ducts to ensure low energy consumption. They are also fitted with hybrid scrubbers.

The 400-meter megamax-24 type ship will serve ports between Asia and Europe. It can load more than 24,000 standard containers at a time, and the maximum stacking layer can reach 25 layers, which is equivalent to the height of a 22-story building. According to its builder, it can carry 10% more weight than a 23,000 TEU containership.

One more vessel from the series is expected to be delivered by the end of this year, while another five ships are at different stages of construction.

Evergreen’s 2nd 24,000 TEU behemoth delivered