The volume of cargo transportation along the Trans-Caspian International Transport Route (TITR) in January-November 2024 increased by 63%, reaching 4.1 million tons. Container transportation increased by 2.6 times and amounted to 50.5 thousand TEU. This became possible due to the increase in the route’s capacity to 6 million tons per year, including up to 100 thousand TEU containers.
Hupac is launching new routes and improving existing connections to increase the efficiency and sustainability of intermodal transport. One of the key innovations will be a new shuttle train between Ghent in Belgium and Piadena, southeast of Milan. Three services per week will be offered initially, with the possibility of increasing the frequency.
French shipping company CMA CGM will become the third carrier to serve Ukraine with its own tonnage. The new Odessa Express (ODX) service will connect the port of Odessa with key ports in Greece and Turkey. CMA CGM will deploy two vessels with a capacity of 1,100-1,500 TEU for the route.
As fossil fuel power generation in Europe declines and demand for sulphur in the chemical industry grows, Aglobis, a subsidiary of Mitsui & Co., Ltd., and logistics operator Rhenus are launching a major project to create an efficient supply chain. Sulphur production, previously a by-product of power plants, has become an import segment, with liquid sulphur playing a key role. To meet this demand, Aglobis plans to build a sulphur processing plant with a capacity of 400,000 tonnes per year, scheduled to start operation in 2027.
The Trans-Caspian International Transport Route (TITR) continues to demonstrate impressive growth. Over the 11 months of 2024, cargo traffic increased by 63%, reaching 4.1 million tons, while container traffic increased 2.6 times to 50.5 thousand TEU. The total throughput capacity of the route is now 6 million tons per year, including 100 thousand TEU of containers.
Strengthening International Transport Corridors
South Korea’s national carrier Korean Air has completed its acquisition of rival privately held Asiana Airlines, which will now be a subsidiary of Korean Air. The US$1.05 billion deal includes a 63.88% stake in Asiana. Full integration of the two companies, including the unification of their route networks and loyalty programs, will take about two years.
Container shipping major OOCL has announced the launch of its new China India Express 2 (CIX2) service, which will provide direct connections between ports in China and the Indian subcontinent. The new route is scheduled to start on December 23, 2024.
From January to November 2024, Ukrzaliznytsia transported 160.9 million tons of cargo, which is 19.4% (or 26.2 million tons) more than in the same period of 2023. In export traffic, the volumes amounted to 77.46 million tons, showing an increase of 56.9% (+28.09 million tons). Among the key categories, grain cargo took the leading position: 36.66 million tons were transported over 11 months, of which 31.43 million tons were exported.
In Germany, the district courts of Flensburg and Neumünster have opened bankruptcy proceedings against the shipbuilding holding FSG-Nobiskrug Holding and its subsidiaries – two shipyards and a design bureau. The procedure was initiated by an insurance company that filed a corresponding application. The court temporarily declared the holding insolvent, and the hearings on the case are scheduled for February 2025.
