The Border Carbon Adjustment Mechanism (CBAM) was set up at European level and targets imports of more carbon-intensive products. Its aim is to extend the EU's greenhouse gas reduction targets to imports of products manufactured in third countries, and it will gradually replace existing EU schemes.
Declining consumption, a situation that has been observed for several months now, is leading to overstocking, particularly in the West, lower freight rates and a supply of space on ships that outstrips demand. This situation is forcing shipping lines to react.
From September 30, 2023, the EU is introducing new restrictive measures against Russia. These include all finished and semi-finished steel and aluminum products imported into the EU, for which the certificate of origin of the goods will no longer be sufficient. The importer will also have to provide a Mill Test Certificate (MTC).
With over 25 international ports in 19 countries and as many international airports, the infrastructure is conducive to growing international trade, particularly between Latin America and the European Union, whose free trade agreement is once again being negotiated.
The severe drought affecting the whole of the American continent is having an impact on the Panama Canal, one of the most important crossing points between Asia and the United States. The Canal's low water level is forcing local authorities to impose restrictions, resulting in increasingly long vessel queues.