Drewry, one of the leading maritime market intelligence services, has written a very interesting and balanced article on the state of the maritime market. Some of the issues highlighted in the article were discussed at the last meeting of BIFA’s Maritime, Road and Rail Policy Group, particularly when vessels might return to using the Red Sea and the impact of the election of a new US President, Donald Trump.
Maritime is probably the mode most impacted by global events and thus the most volatile in certain ways. The signing of a peace deal between the Israeli government and Hamas led to a rather unexpected announcement from the last named party that they will cease attacks on non-Israeli owned shipping. However, as the article points describes, there are good reasons why carriers may continue to divert vessels round the Cape of Good Hope.
Also on Monday 20th January, Donald Trump was inaugurated as President of the USA. It was noteworthy that he did not introduce punitive tariffs against China, Canada and Mexico (despite the rhetoric he may have had concerns about their inflationary impact on the American consumer).
The full Drewry article can be found here: https://indiashippingnews.com/sympathy-for-the-shipping-executive-drewry/?utm_campaign=E-Newsletter+21+January+2025%2C+India+Shipping+News&utm_medium=email&utm_source=newsletter
