Newsletter – December 5, 2019
AIR FREIGHT UPDATES
Air Cargo Peak Season off to Slow Start, Annual Demand down 3.5% in Octoberiata.orgGeneva – The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased by 3.5% in October 2019, compared to the same period in 2018. This marks a weak start to the traditional peak season for air cargo and the twelfth consecutive month of year-on-year declines in freight volumes. Read more here.
GROUND AND RAIL FREIGHT UPDATES
New York grants cargo bikes commercial parking accessfreightwaves.comIn a move to cut traffic congestion in parts of the nation’s largest city, New York officials Wednesday announced a six-month pilot program giving pedal-assisted cargo bikes access to commercial loading zones normally reserved for trucks and delivery vans. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Today’s Pickup: Saudi Arabia threatens to flood oil market if OPEC members don’t cap productionfreightwaves.comOil prices continue to stay low because some OPEC and/or OPEC+ members are refusing to cut their oil production quotas. This has miffed Saudi Arabia, which is on the brink of finalizing the initial public offering (IPO) of Aramco, its state-owned oil company. OPEC officials have said that Saudi Arabia has threatened to boost oil production and flood the market if some of the other OPEC nations do not fall in line and cut production. Read more here.
EC urged to listen to TAPA as cargo theft from trucks hits record levelstheloadstar.comThe European Commission (EC) must “listen” to buyers if it is to take advantage of its new EU safe and Secure Truck Parking Areas (SSTPAs), according to TAPA. Read more here (login required).