December 26, 2024
“We’re entering a new era where building software is easier, and AI is accelerating this trend.” – Andrew Gazdecki, CEO of acquire.com
“Eventually we expect AI costs to be 90% cheaper than they currently are (if the current trajectory holds).” – Maciej Wilczyński, Co-founder of Valueships
“There will be more and more niche SaaS products … that will solve the specific needs of a few thousand customers.” – Martin Raißle, VP of Finance & Operations at ChartMogul
LOGISTICS
Carriers are hoping the addition of pre-LNY demand in January will support further rate hikes to start the new year on General Rate Increase (GRIs) of $1,000 – $3,000/FEU, per Freightos.
Asia – Europe and Mediterranean container rates have eased 3% – 7% from levels reached on early December GRIs, per Freightos.
Red Sea diversions on routes from Asia – Europe are still the biggest contributor to rates that remain at least double their level a year ago. Several carriers are forecasting a return to the Suez Canal in the second half of the year, but that looks very uncertain at this time.
Starting January 2025, ocean carriers will introduce surcharges to comply with stricter EU emissions regulations, such as the EU Emissions Trading System (ETS) and FuelEU Maritime rules. These charges are designed to offset increased costs from carbon taxes and fuel intensity limits, per UPS.
THIS MONTH
This month Jennifer Patton, Sourcing Director, Coppel Dept Store, talks about how Coppel built a wildly successful retail business by solving one fundamental problem for customers.
She also discusses the strategic sourcing model the company uses to source innovative products across a vast range of categories. Read more
PODCAST
In this podcast Renan Devillieres, CEO of OSS Ventures, discusses how manufacturers can identify and implement the right technology for their business.
MATERIALS
Cotton decreased 12.29 USd/Lbs or 15.18% since the beginning of 2024.
Wool prices rose this week, but are down 4.86% since the beginning of the year.
Oil prices rose, supported by stimulus measures in China and a US industry report highlighting a decline in crude stockpiles.
An expanded list of materials prices is available here.
MARKETS
In the US, solid consumer spending and a resilient labor market will continue to prop up the economy in the coming year, economists at Goldman Sachs said. Not everyone shares their confidence. Read more
CURRENCIES
US investors are betting that the dollar will continue the storming rally that has seen it rise 6.2% since October.
The Euro fell to a nearly two-year low, down 6% this year, driven by diverging expectations for central bank policies.
The British pound declined 1.3% against the dollar since January but remains one of the year’s best-performing major currencies.
The Japanese yen hit a near five-month low against the dollar. Last week, the Bank of Japan kept rates unchanged and offered few clues on the timing of future rate hikes.
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