Sealand Global Logistics

Asia-US container spot rates spiking to year-end highs Container spot rates from Asia to the United States in the remaining weeks of 2024 are spiking to highs not registered since the December of the first year of the pandemic-driven rush. Imports are surging ahead of a January strike threat on the US East and Gulf coasts and thanks to a compressed post-holiday shipping schedule. The spot rate from Asia to the West Coast increased to the mid-$4,000s per FEU from $2,500 on Nov. 29, following general rate increases (GRIs) by individual carriers of almost $2,000 per FEU, forwarders told the Journal of Commerce JOC.com https://lnkd.in/erM7mgT7

As the year draws to an end Sealand Global Logistics would like to wish all our customers, partners and colleagues a Merry Christmas and Happy New Year. We hope 2025 is a good year for everyone.🎅🙏🎄⛄🦌🙌🌟 Anne Hanley Stephen Higgins Kallan Plunkett Marzena Bajor Catherine Casey Olena Gudkova Richard Case 🇮🇪 🇪🇺

Sealand Global Logistics would like to wish all our customers, partners and colleagues a very Happy Christmas and Peaceful New Year 🙏🎄⛄️🦌🎁🙌 🎅 Anne Hanley Kallan Plunkett Marzena Bajor Stephen Higgins Olena Gudkova Catherine Casey Brian Collins Marcel Mikulasko Richard Case 🇮🇪 🇪🇺

Urgent action needed to reopen Holyhead Port Further coverage on this story is available here: TheJournal.ie https://lnkd.in/dbN24F2A Irish Independent https://lnkd.in/ddYF_iqZ The Sun https://lnkd.in/dRaKujcq Irish Exporters Association

British businesses stop shipping to Northern Ireland due to updated rules Small British businesses have stopped selling to Northern Ireland as well as Europe due to extra administrative hurdles posed by new EU customs rules coming into effect. Many small firms said they are unable to meet new requirements for paperwork and numbering of each product as well as the need to have an "authorised representative" in the EU or Northern Ireland. A conviction and the penalty of fines mean business owners without the resources to get legal advice are not risking getting something wrong, instead simply halting Northern Ireland and EU exports, one businesswoman told Sky News. #NorthernIreland #EU #UK #Customs #Border #Protocol https://lnkd.in/d9K-qhYy

Container shipping overcapacity set to double in 2025 In its latest market report Braemar said that it had expected 2024 overcapacity to reach 12-13% in this year, up from around 9% in 2023, but the Red Sea diversions quickly put paid to that projection. “In 2024 overcapacity was significantly suppressed, despite significant fleet growth. We estimate vessel overcapacity in 2024 will be in the region 3-4%,” said the Braemar report, written by researcher Jonathan Roach, “Despite underlying overcapacity, the high level of uncertainty surrounding Cape of Good Hope transits has understandably enticed a surge in newbuilding investment in 2024,” he added. In 2025 the deliveries of new vessels will again raise the capacity oversupply, said Braemar, “even allowing for Red Sea avoidance, oversupply is expected to increase from 3-4% in 2024 to 7-8% in 2025,” said the broker. Estimates of the the actual amount of capacity set to be delivered varies, but to Dynamar B.V. analyst Darron Wadey puts the number at around 220 vessels are scheduled to be delivered totalling around 1.9 million teu, representing a vessel growth rate of 3%, but a capacity increase, without scrapping, of 6%. “It is unlikely that demand will grow at anything like the same rate as the 6% capacity,” said Wadey. Consultancy MDS Transmodal Ltd has calculated the current fleet stands at 29,483,380 teu, with some 1,817,706 teu to be delivered next year, however, MDS also calculated that over 3 million teu will be 20 years old or over by the end of 2024. #ContainerShipping #Overcapacity #Ships #Newbuilding #Oversupply https://lnkd.in/eX_b6tyN

China's exports slow sharply, imports shrink ahead of Trump tariffs China's exports slowed sharply and imports unexpectedly shrank in November, in a worrying sign for the world's second biggest economy as Donald Trump's imminent return to the White House brings fresh trade risks. The disappointing trade figures follow other indicators showing patchy growth in November, suggesting Beijing needs to do more to shore up a faltering economy that is only likely to face further challenges next year. Outbound shipments grew 6.7% last month, customs data showed today, missing a forecast 8.5% increase and down from a 12.7% rise in October. Of more concern for authorities, imports shrank 3.9%, their worst performance in nine months and dashing expectations for a 0.3% increase, keeping alive calls for more policy support to prop up domestic demand. #China #Exports #Imports #Trump #Tariffs https://lnkd.in/ewmqFcBZ

There's another potential port strike looming on the horizon Remember the short-lived dockworkers’ strike which crippled ports on the East and Gulf Coasts in October? The strike only lasted three days, but cost the American economy billions in lost revenue. The work stoppage was temporarily resolved when the INTERNATIONAL LONGSHOREMEN'S ASSOCIATION LOCAL 2038 (ILA) agreed to a 61.5% wage increase over the next six years. The ILA and the UNITED STATES MARITIME ALLIANCE LIMITED tabled other issues, the most important of which is the automation of ports. The contract extension that was negotiated expires on January 15, 2025 – five days before President-elect Trump takes office for his second term. DOCKWORKERS' UNION WALKS AWAY NEGOTIATIONS WITH EAST AND GULF COAST EMPLOYERS However, there is a major glitch, which had been under-reported by corporate media: the two sides stopped all negotiations in mid-November, with the ILA walking away from the negotiating table, stating, "USMX introduced language in their proposal for semi-automated equipment to be used at ILA ports, which this union outright rejected. The ILA recognized this as a renewed attempt by USMX to eliminate ILA jobs with automation and broke off talks." #Dockworkers #Strikes #EastCoast #GulfCoast Anne Hanley Catherine Casey Stephen Higgins https://lnkd.in/duPn4RHM

Pharma giant BioMarin announces €60m investment in Cork facility The investment will see the addition of a new four-storey lab facility that will enable the company to increase production capacity for approved medicines and create room for future growth. Employing more than 500 people, BioMarin Pharmaceutical Inc. said the expansion will further expand its footprint in Ireland, where the pharmaceutical giant operates a manufacturing site in Cork and a commercial office in Dublin.  “This investment in our Cork facility reflects our ongoing commitment to enhancing our industry-leading global manufacturing capabilities and supporting the growth of our innovative medicines for our people living with rare conditions around the world,” said Evelyn Marchany García, B.S. Chem., MBA, senior vice president and chief quality officer at BioMarin Pharmaceutical Inc. IDA Ireland https://lnkd.in/gJCwx92c

Every year around this time Sealand Global Logistics make a donation to a charity, this year we have decided that Focus Ireland is a very worthy charity. We would like to thank everyone involved with Focus Ireland for all their hard work.🙏👏 This year 14,966 people including 4,645 children in 2,161 families will spend the festive season in emergency accommodation. Alarmingly, almost 380 families in Dublin are facing their second, and in some cases third and fourth Christmas experiencing homelessness 💔 Since 2021, Focus Ireland has helped more than 1,550 families leave homelessness, effectively helping more than one family exit homelessness every day for each of the past three years. But we need your support to continue this vital work and ensure every family has a safe home. Anne Hanley Stephen Higgins Kallan Plunkett Marzena Bajor Maria Natalie Mendoza Catherine Casey Olena Gudkova Richard Case 🇮🇪 🇪🇺