The past year has been a strong one for North American import trade demand, and that should continue for both ocean and air cargo into 2025, according to shipping giant Maersk, but so will supply chain disruptions. After year-on-year growth in North American market imports of roughly 20%-24% across the first three quarters of 2024, Maersk expects the Q4 numbers to also be in double-digit territory, according to Charles van der Steene, president for Maersk North America, who described the full year 2024 as “very strong with resilient demand.” The surge of e-commerce shipments from Chinese online sellers has also fueled air freight prices. Maersk is returning its China air cargo service to its South Carolina hub at the start of 2025. “The e-commerce market has been surprisingly strong,” said van der Steene. But Van der Steene said shipping companies expect the volatility that has pervaded global trade since Covid to be back in 2025. “Disruption will also be with us,” he said. “The topic of resilience within the supply chain will continue to be, and should be, on everyone’s agenda.” The disruptions include another potential International Longshoremen’s Association strike at East Coast and Gulf ports across the U.S., and tariff threats made by President-elect Trump ahead of an early Lunar New Year in Asia, when many manufacturing plants in China are idled for a month. These threats have stoked the price of the cargo container as shippers vie for the coveted boxes to ship their imports. Over the last several months, ocean freight spot rates had been on the decline, but on Monday, when ocean carriers released their rates for the Dec. 15- Dec. 31 bookings, logistics managers told CNBC they jumped, a bullish demand indicator. In ContainerXChange’s latest update, it reported North America has experienced the sharpest rise on a global basis, at 20%, in average container prices over the last 90 days. The National Retail Federation recently said inbound cargo traffic as a result of strike and tariff threats would fuel container import records in both November and December. Maersk has started to see a progression of trade moving over to the West Coast, Van der Steene said. With volumes remaining strong, “We can at least conclude that volumes are being pulled forward, or volumes are incredibly more strong now because of the anticipation of a potential disruption,” he said. Automation is one of the main sticking points in negotiations between the ILA and the United States Maritime Alliance, which represents the owners of East and Gulf Coast ports. Maersk’s auto gate system in Mobile, Alabama, was the reason for an initial breakdown in talks over the summer, with the union alleging use of automation in violation of contract terms. After the ILA strike on October 1-October 3, which shut down 36 ports on the East and Gulf Coasts, ended with a deal on wage issues and significant pay hikes for dock workers, the issue of automation was put off until a January 15 deadline for a full deal. On Thursday, President-elect Trump met with ILA president Harold Daggett and his son, Dennis Daggett, who is executive vice president of the ILA, and came out in support of the union position after the meeting. Harold Daggett has vowed no use of automation as a firm union position. In a Truth Social post, Trump said the money saved by companies using automation “is nowhere near distress, hurt, and harm it causes for American workers.” Trump added, “Foreign companies have made a fortune in the U.S. by giving them access to our markets.” The Trump-Daggett meeting came at a pivotal moment after another breakdown in talks between the union and ports. The ILA, which is North America’s largest longshoremen’s union, and the USMX met on November 11 to discuss automation, healthcare benefits, work jurisdiction, and container royalties. But on November 13, negotiations broke down over automation. USMX responded on Thursday in a statement that it appreciated and valued President-elect Trump’s belief in the importance of American ports, but said the union contract is about supporting American consumers and businesses through innovation and technology. “To achieve this, we need modern technology that is proven to improve worker safety, boost port efficiency, increase port capacity, and strengthen our supply chains. ILA members’ compensation increases with the more goods they move – the greater capacity our ports have and goods that are moved means more money in their pockets.” A strike that lasts longer than a few days would cost the U.S. economy $5-$7 billion per week, according to EY. Van der Steene, in the CNBC interview conducted before Trump’s post, said Maersk is still “quite hopeful and mildly positive” that an agreement between the ILA and the USMX will be reached before the January 15 deadline when the contract negotiation period expires and another strike can begin. The ILA has warned that if the U.S. president invoked the Taft-Hartley Act to force the striking workers back on the job, there would be an intentional slowdown. President Biden stuck to his position of not invoking the act when the ILA went on strike in October. Trump’s latest comments suggest he would not invoke Taft-Hartley either. Senior Biden administration officials have told CNBC they are urging both sides to get back to the negotiation table. Next year will also bring a new ocean alliance for Maersk, starting in February, when the Gemini Corporation Agreement between Maersk and Hapag-Lloyd begins. The cancellation of Hapag’s China to Germany service raised some concerns in the logistics industry, and there have been concerns that the Gemini Alliance may be short of vessels, but van der Steene told CNBC it has enough vessels to meet demand. Bookings for the new alliance began this week and van der Steen said the alliance is excited about orders and has set an ambitious goal of 90% vessel reliability for 2025. Red Sea diversions and the ILA strike contributed to delayed arrivals in 2024. Current ocean carrier reliability, according to Sea-Intelligence, is 50-55%. Maersk is the most reliable ocean carrier, at 58%. “We will be quite prominently driving from that 58% all the way up to 90% in the course of 2025,” Van der Steene said. “That’s the only way which we believe we can get our customers to reduce their inventory; we can allow our customers to de-risk their supply chain, and at the same time, reduce costs and carbon footprint along the way.” Overall in 2025, Maersk is expecting the market to continue to be strong, with U.S. GDP set to grow just under 2%, bolstering demand for supply chain services, whether Asian imports or trade flows between Mexico and the U.S., Van Der Steene said. While the exact level of demand is difficult to forecast, current market strength is expected into the first half of 2025. “We should all be ready for a continued strong market,” he said. But he added, “We’re very much in deep discussions with our customers as to how they can prepare for what could be another year, or rather, what will likely be another year of disruption and the need for supply chain resilience.” Source: CNBC
Apple’s iPhone Security Suddenly Under Attack—All Users Now At Risk
As we delve deeper into the phenomenon of NFTs, it becomes evident that the emotional value driving market trends extends beyond mere financial gain. The $70,000 NFT whistle represents a convergence of technological innovation, cultural significance, and emotional resonance, capturing the imaginations of individuals who seek to explore new possibilities in the digital realm. By understanding the underlying emotional motivations behind the hype surrounding NFTs, we gain insights into the evolving nature of consumer behavior, digital ownership, and the intersection of art and technology.Join our newsletter to get the latest military space news every Tuesday by veteran defense journalist Sandra Erwin. WASHINGTON — The vice chief of space operations for the U.S. Space Force, Gen. Michael Guetlein, issued a stark warning this weekend about China’s accelerating advances in space technology and its growing capacity to challenge the United States’ dominance in orbit. Speaking Dec. 7 at the Reagan National Defense Forum in Simi Valley, California, Guetlein described the evolving space environment as increasingly hostile, marked by the erosion of longstanding norms and the emergence of new threats to U.S. space assets. “The adversary is quickly shrinking that gap, and we have got to change the way we approach space pretty rapidly,” Guetlein said. “Today that capability gap is in our favor, but if it goes negative on us, it’s going to be a really bad day.” While Guetlein refrained from specifying particular Chinese actions, he painted a picture of a dramatically altered strategic landscape. In the past, there was a tacit “gentleman’s agreement” not to interfere with each other’s space systems, Guetlein said. But today, that restraint has dissolved, giving way to increasingly bold tactics such as jamming GPS signals, spoofing satellite communications, conducting cyberattacks, and deploying unmanned surveillance aircraft. “This new norm of behavior is very unsafe and unprofessional,” Guetlein said, warning that such activities could escalate into major strategic crises if left unchecked. China’s space ambitions have been well-documented in recent years. Its military space program has developed anti-satellite weapons, advanced satellite jammers, and other capabilities designed to disrupt U.S. satellites critical to navigation, communication, and missile defense. Experts say such capabilities could undermine the United States’ ability to project power in a conflict. Guetlein emphasized that addressing the threat will require a fundamental shift in how the United States approaches space operations, especially given the Space Force’s relatively modest budget and size. Key to this strategy, he said, will be closer collaboration with international allies and commercial industry — a break from Cold War-era thinking when the Pentagon was largely self-reliant. “In the past, we didn’t believe we could count on our commercial partners and international partners during times of crisis,” Guetlein said. “That has completely changed.” Central to this new approach is the Space Force’s proposed Commercial Augmentation Space Reserve (CASR) program. Under CASR, private companies would contractually commit to providing satellite services to the military during emergencies, even if it means prioritizing military needs over commercial customers. Guetlein described this as a cost-effective way to ensure access to critical space capabilities during crises. “We’re trying, with very limited resources, to get after an enormous demand signal coming out of our joint force,” he said. However, the program has yet to award contracts, and details about its funding and scope remain unclear. Rep. Rob Wittman (R-Va.), who also spoke at the Reagan Forum, expressed strong support for CASR, emphasizing its importance in leveraging commercial and allied capabilities to maintain a strategic edge. “It shouldn’t just be about satellite services,” Wittman said. “We have to make sure it includes launch vehicles. We have to make sure that our reserve is there to where, if called upon tomorrow, we could respond at the speed of relevance.” Wittman urged the Space Force to ensure the program is comprehensive and prepared to respond to threats swiftly. He said the urgency is compounded by China’s growing willingness to challenge the U.S. in space. Beijing has launched a record number of satellites in recent years and demonstrated technologies like satellite grappling arms and orbital debris removal systems, which could be repurposed as weapons. Guetlein’s warning comes as the Space Force continues to advocate for more funding and resources to address these threats. “We must act now to ensure that the capability gap doesn’t shrink to zero — or worse, go negative,” Guetlein said.
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GRAND FORKS, N.D. (AP) — Tai'Reon Joseph scored 28 points off the bench to lead UTSA over North Dakota 95-85 on Sunday. Joseph shot 8 of 11 from the field, including 6 for 8 from 3-point range, and went 6 for 7 from the free-throw line for the Roadrunners (5-5). Primo Spears scored 16 points while shooting 4 for 12 (3 for 5 from 3-point range) and 5 of 5 from the free-throw line. Damari Monsanto finished 4 of 4 from 3-point range and 3 for 4 from the line to finish with 15 points. The Fightin' Hawks (4-8) were led by Treysen Eaglestaff, who finished with 24 points, four assists and two steals. Dariyus Woodson added 23 points. Deng Mayar contributed 14 points and 10 rebounds. UTSA took the lead with 19:02 to go in the first half and did not relinquish it. The score was 39-34 at halftime, with Monsanto racking up nine points. UTSA used a 9-0 run in the second half to build a 13-point lead at 55-42 with 15:16 left in the half before finishing off the win. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
Bonucci, known for his commanding presence in defense and impeccable passing ability, was a key player for Juventus during that period. His partnership with Giorgio Chiellini and Andrea Barzagli formed the formidable 'BBC' defensive trio that helped Juventus dominate in Serie A and make deep runs in the Champions League.Despite the disappointment, Zheng Qianwen remains determined to prove her worth and show the world that she is a force to be reckoned with in women's tennis. With her unwavering dedication to the sport and her undeniable talent, there is no doubt that she will continue to make waves on the tour and strive for greatness in the seasons to come.
AC Milan, one of the most storied clubs in Italian football history, is reportedly on the verge of being sold. Rumors have circulated that the current owners, led by American billionaire Paul Singer, are in talks with a group of investors from the Middle East who are interested in acquiring the club. This news has both excited and worried Milan fans, as they fear the potential changes that a new ownership structure could bring to their beloved team. The Red and Blacks have been showing promise under the current management, and many are hoping for stability and continued success in the future.