Newsletter – December 4, 2017
AIR FREIGHT UPDATES
Peak season air freight rates set to remain high
This year’s final-quarter air freight rates on key routes are likely to be significantly up on the same period last year, with peak-season characteristics continuing well into 2018, some freight forwarders believe. Read more here.
October cargo demand down but it’s looking good for Incheon
Incheon Airport’s international cargo fell 2.5% in October but the South Korean gateway still registered a 8% rise in year to date traffic.
The airport authority said October’s decrease was partly due to the loss of over four working days to the ‘Golden Holiday’ period. Read more here.
American, Pilot Union Agree Terms For December Flights
American Airlines and the APA union representing its pilots have reached an agreement on terms for staffing its flights in December after a computer error left thousands of flights without pilots over the period. Read more here.
OCEAN FREIGHT UPDATES
OOCL outlines what’s needed to comply with new US Customs ruling
HENCEFORTH, US Customs will demand requirements of its Harmonised Tariff Schedule of the United States (HTSUS), though with flexible enforcement for 90 days, says Hong Kong’s Orient Overseas Container Line (OOCL) in a notice to traded. Read more here.
Growth at last
After a long barren period, growth has returned to Asia to Middle East trade, although the same isn’t true for freight rates. South Asia continues to outpace its neighbour with rates moving upwards, reports Drewry.
Read more here.
Carriers slow rate slide, but some are ‘grabbing anything at any price’
Just ahead of the all-important annual contract rate negotiations there is evidence today that Asia-Europe carriers may have halted the recent slide in spot rates.
Read more here (login required).
CMA CGM Completes Sale of 90% Stake in Los Angeles Terminal
Frances’ CMG CGM Group has completed the sale of 90% equity interest in Global Gateway South terminal at Los Angeles to EQT Infrastructure and P5 infrastructure. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Understanding supply chain analytics
This is why supply chain analytics matters: Every day, every hour and every minute, countless packages and shipments are being moved around the world within never-ending flows of supply chains. These supply chains serve as the backbone of the world economy and, in truth, are what keeps the world moving. Read more here.