It would be a fair statement that the start of 2024 has been anything but quiet, and our stability temperature monitor is edging ever closer to code red.

At the inception of this advisory, the headline read “Red Sea crisis enters hibernation mode”; however, this headline is clearly no longer reflecting the latest development.

Scan Global Logistics continues to expand its presence in Europe by opening a new office in Marseille, marking its fourth establishment in France since its initial opening in Lille in 2021. This new office provides direct access to France's second-largest commercial port area, and trade routes to Asia, particularly China and the USA, will be of primary importance initially. However, the port's direct connectivity to Africa and the Middle East presents significant business prospects in these regions.

We kick off 2024 with a fresh take on the current market outlook considering recent market developments.