Newsletter – November 30, 2017
AIR FREIGHT UPDATES
American Flags Pilot Shortage For December Flights
American Airlines could be short of pilots in December leading to flight cancellations as a computer software problem gave too many pilots time off, the carrier’s pilot union said. Read more here.
OCEAN FREIGHT UPDATES
Rising excess shipping capacity risks blighting record profits
LADEN containers will break volume records this year as profits soar, but the industry still carries crippling surplus capacity as the active fleet growth hits nine per cent, reports IHS Media.
Japan’s MOL posted the biggest year-on-year Asia-Europe increase from July through September, up 61.7 per cent to 291,000 TEU. Read more here.
Ocean shipping digitalisation ‘failing to optimise processes’
The digitalisation of ocean shipping documents is currently being driven by paper handling cost savings but failing to answer deeper business process optimisation issues, according to Drewry Supply Chain Advisors. Read more here.
Hackers could capsize large vessels – and other cyber attack news
The shipping and logistics industry is looking increasingly vulnerable to cyber attack. A host of stories in the past week have shown how hackers can target shipping. Perhaps most worrying is that ship loading and container stowage plans are sent via unsecure messaging, meaning that a malevolent hacker could redistribute weights on a ship and putting it out of balance. Read more here (login required).
Analysis: Yang Ming cash call a positive, but its share price is now a fear gauge
“Every little helps” – this motto perfectly sums up the outcome of Yang Ming’s latest fundraising round.
Let’s set the record straight: this week was very important for the container shipping industry, because the Taiwanese carrier – one of the weakest links in the container supply chain, based on financial fundamentals – proved to be able to raise NT$6bn ($198m) in new equity capital, with reports suggesting the deal was oversubscribed after launching at NT$5bn ($165m). Read more here (login required).
CMA CGM to increase Far East to Middle East, Indian subcontinent rates
FRENCH shipping giant CMA CGM has announced two rate increases for December from Asia to the Middle East and from the Far East to the Indian subcontinent. Read more here.
INTERNATIONAL BUSINESS GOVERNMENT UPDATES
China mulls second attempt at creating a Shanghai free trade zone
CHINA’s cabinet, the State Council, the nation’s cabinet, will soon unveil plans for a second version of a “free-trade port” in Shanghai, reports Hong Kong’s South China Morning Post. Read more here.