Market Trends & Opportunities
Hong Kong’s bet on Brazil and South Africa
Hong Kong is eyeing new business ventures in developing nations, with a focus on Brazil and South Africa.
These markets offer significant growth potential in infrastructure, green energy, and more.
Hong Kong companies are exploring partnerships to boost their presence and investments.
On the global stage, the European Union and Mercosur are nearing a historic free trade agreement after 20 years of negotiations.
The deal aims to reduce tariffs and open up a market of 780 million people, though domestic opposition remains a hurdle.
Argentina's major gas pipeline to Brazil on track for completion by march 2025
Argentina's ambitious gas pipeline project connecting the Vaca Muerta shale reserve to Brazil is expected to be completed by March 2025.
Spanning over 2,500 kilometers, the pipeline will transport natural gas from northern Argentina to Brazil's southern regions.
This infrastructure is crucial for Argentina’s goal of becoming a major energy exporter while providing Brazil with a steady supply of natural gas, reducing its dependence on costly liquefied natural gas (LNG) imports.
The project highlights the growing energy cooperation between the two South American nations.
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Hapag-Lloyd increases shipping rates from Asia to Latin America
One of the largest shipping companies in the world, the German Hapag-Lloyd, announced that it will raise the price of shipping rates for cargo from Asia to the West Coast of South America, Mexico, Central America, and the Caribbean.
The increase of US$2,000 will apply to shipments transported in 20- and 40-foot containers, including 40-foot high cubes and non-operating reefers.
Since the increase applies to freight for the South American West Coast, the change does not directly affect the company’s routes to Brazil.
However, the company’s announcement reflects a global rise in costs in the maritime transport sector, driven by the lower supply of containers and ships in the international market.
In October 2023, the average rate for shipping a 40-foot container was approximately US$1,342. By mid-August 2024, the value had risen to US$5,428, an increase of 304%.
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