South Africa Update
Ports in South Africa resumed operations after recent severe storms which resulted in flooding and debris. Authorities warn that delays will still be experienced as operations gradually return to full capacity.
Dry Olympics
Moët Champagne and Hennessy Cognac are major sponsors of the Paris Olympic Games, however, venues will prohibited from selling alcohol to the general public. If you are lucky enough to find yourself with a VIP ticket or in a hosted suite at the games, you will still be able to experience these brands. Check out what you can drink here.
Panama Canal Transits Up
Recent rainfall in the region has meant that the Panama Canal Authority has raised its maximum authorized draft to 13.7 meters. As a result, the canal can now accommodate thirty- two ships per day. For more information click here.
‘Gemini Cooperation’: A new alliance
In January 2024, Maersk and Hapag-Lloyd announced a new alliance called the “Gemini Cooperation”. News reports state that Gemini will have at its disposal a fleet of 290 vessels with Maersk contributing 60% of the fleet and Hapag-Llyod contributing the remaining 40%. Shipping commentary on this new cooperation places Gemini third behind 2M and the Ocean Alliance relative to the size of accessible vessels. Commentators are monitoring the impact of this new cooperation on competition within the shipping market. Additionally, the US Federal Marine Commission has also weighed in asking for more detail on the operation of the agreement.
Elenteny’s vendors note it is too soon to state the impact on the availability of vessels and are monitoring its commencement closely. |
