Newsletter – December 18, 2017
AIR FREIGHT UPDATES
Cathay Pacific predicts strong Q1 for air cargo
Cathay Pacific Cargo is expecting a strong start to 2018, with demand remaining strong for at least the first quarter, shippers already looking to secure space and rates expected to rise.
In a series of outlook articles, executives from the airline outlined the strength of the air cargo market in 2017 also their expectations for the coming 12 months. Read more here.
Lufthansa Cargo adds transatlantic charter flights to cover e-commerce demand
Lufthansa Cargo will carry out six charter flights between Frankfurt and New York on behalf of Deutsche Post as the postal operator looks to meet e-commerce demand.
The Frankfurt-hubbed airline began the MD-11 flights in mid-November and they will continue until shortly before Christmas Eve, flying each Monday. Read more here.
Delta Cargo flights hit by power outage at Atlanta Hartsfield-Jackson
Cargo through Atlanta could experience some delays following the cancellation of more than 1,000 flights due to a power outage at Atlanta Hartsfield-Jackson International. Read more here.
OCEAN FREIGHT UPDATES
Uncertainties prevail over Trans-Pacific freight rates amid overcapacity
CONTAINER freight rates on the trans-Pacific trade have declined to their lowest level in 12 months, while surplus capacity floods into service, leading to uncertainty over the direction trans-Pacific rates will head in over the coming months. Read more here.
MSC Upgrades Capacity of 11 Mega Boxships at Beihai Shipbuilding
Container shipping giant MSC has commissioned CSIC-affiliatted Beihai Shipbuilding Industry for the conversion of up to 11 mega containerships. Read more here.
Yang Ming to retire 20 ships and to seek new tonnage in coming years
FOLLOWING the recent injection of cash from the state, Yang Ming Marine Transport has detailed plans to scrap 20 ships and to bring in a fresh wave of new tonnage. Read more here.
Taiwan’s Port of Kaohsiung completes expansion to handle 22,000 TEU ships
INTERNATIONAL contractor specialising in dredging, marine engineering and offshore projects, Van Oord of the Netherlands, has completed its expansion of the Port of Kaohsiung – Taiwan’s largest port – which will be able to handle container vessels of up to 22,000 TEU. Read more here.
CANADIAN BUSINESS – GOVERNMENT UPDATES
Canadian exporters feel pessimistic on NAFTA uncertainty, seeking new solutions
Toronto, ON —Nearly one-quarter of Canadian exporters believe they are negatively affected by looming NAFTA renegotiation uncertainty and are turning to creative solutions to succeed even if the free trade agreement fails, according to a poll by Export Development Canada. Read more here.
Canada is one step closer to expanding preclearance operations with the U.S.
Ottawa, ON — Expanding preclearance will enable faster travel between Canada and the United States, provide access to more American airports, bolster trade, better protect our rights and increase security. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
China lavishes aid on Pakistan town, as it builds a deepwater port
The Pakistani port of Gwadar is being built by China as part of its widening geopolitical expansion efforts. However, in contrast to other infrastructure projects it is being accompanied by some $500m in grants. Read more here.