Newsletter – April 23, 2019
AIR FREIGHT UPDATES
World’s largest plane, bigger than Spruce Goose, takes off, lands A-OK
THE world’s largest aircraft – measured by wingspan – took its first flight from Mojave Air and Space Port (MHV) achieving a speed of 189 miles per hour and reaching an altitude of 17,000 feet before returning 2.5 hours later, reports New York’s Air Cargo World. Read more here.
OCEAN FREIGHT UPDATES
Supply chain radar: CMA CGM in, Cosco out, as the container shipping lines flirt with M&A…
…and Singapore-based Pacific International Lines (PIL) – a target worth up to $4.5bn, based on my estimates – could well be the next ocean carrier moving the consolidation needle, as I recently argued. Read more here.
HMM’s new CEO in Europe for crunch talks with Maersk and MSC
Jae-hoon Bae, the newly installed president and CEO at HMM, South Korea’s flagship carrier, has wasted little time hopping on a plane to Europe to discuss alliance matters with partners Maersk and Mediterranean Shipping Company (MSC). HMM’s vessel sharing agreement on the main east-west trades with Maersk and MSC comes up for renewal next April. Read more here.
GROUND FREIGHT UPDATES
B.C.’s container truckers welcome new pay increases
Vancouver, BC — Unifor says efforts are paying off for container truck drivers in B.C.’s lower mainland as the provincial government introduced a suite of changes that will make work better for more than 1,700 truckers and help to stabilize the industry, according to the union. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Amazon, facing entrenched rivals, says to shut China online store
SAN FRANCISCO/BEIJING/HONG KONG (Reuters) – Amazon.com Inc said it will shut its China online store by July 18, as the U.S. e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation. Read more here.