Greetings, and a Happy New Year to all!
Here at TCC, we’re breathing a sigh of relief to have 2023 behind us. Reflecting on the past year, it felt like a drawn-out journey back to normalcy. We saw sale prices, volumes, and margins squeezed under the pressures of sluggish demand and bloated inventories.
Moreover, with the global market hunting for bargains, the Americas became a focal point for those looking to undercut prices, driven by even more desperate demand conditions elsewhere. As 2024 unfolds, we’re stepping into it with optimism, ready for what we hope will be a return to more familiar demand patterns.Yet, we’re mindful that the challenges of globalization will persist, shaping both supply and demand.
We’re keeping a close eye on several trends and issues, such as complications with ocean freight, escalating conflicts, an action-packed election year, the financial strain on chemical producers and distributors, and the strain on significant global partnerships. Notably, the troubles with the Red Sea and Panama Canal are intensifying. Just in January, we’ve already felt the pinch, with disruptions in these critical trade passages leading to soaring freight costs and lengthy delays — a situation that’s sure to test the US Federal Reserve’s inflation-reducing strategies.
The race for the American presidency is heating up, with candidates not holding back. While we hope for a smooth election cycle, history suggests we brace for bumps along the way. Despite the political tumult, I’m confident the US economy will remain robust, drawing global attention as November approaches.
The demand downturn in 2023, especially in the Americas, China, and the EU, has pushed chemical manufacturing and distribution into a recession, a stark contrast to the booming travel and entertainment sectors. Yet, there’s light at the end of the tunnel. We anticipate significant economic stimuli in China and a rebound in the EU as manufacturing picks up pace with new energy supplies and diminishing fears of a broader European conflict.
In the last eighteen months, TCC has zeroed in on expanding our product line and enriching our sales force with bright, ambitious professionals eager to seize emerging opportunities. The realms of sales and marketing are neither straightforward nor inexpensive, but we’re committed to excelling in what we do best: selling. This commitment extends to enhancing our technologies and systems, and refining our use of technology to strengthen customer connections. While technology will never supplant the value of personal relationships, it’s a tool we’ll leverage to enhance them and boost our performance.
The TCC/TLC family has joyfully expanded, celebrating the arrival of several beautiful babies in 2023. Breaking a streak of 20 boys, we were thrilled to welcome a girl into our midst! Naomi Savory, our Christmas miracle, arrived quite early but is both healthy and happy.
At TCC, we know that lasting success hinges on strong relationships. Our growth strategies are rooted in forging robust bonds with clients, partners, and colleagues alike. Trust, collaboration, and mutual understanding are the pillars that will allow TCC/TLC to navigate supply chain challenges. With a packed schedule of in-person events this spring, we’re more committed than ever to deepening these connections. While technology enhances our efforts, it will never replace the irreplaceable value of personal interaction.
Cheers to a healthy, successful 2024! We look forward to seeing all of our customers, producing partners and friends in the industry soon.
Robb Roach
President
This note originally was published on The View from Jamestown, TCC’s Email Newsletter. Click here to subscribe today.
