Newsletter – August 14, 2018

AIR FREIGHT UPDATES

Airlines get a slight lift as freight rates begin to creep up again

source: theloadstar.co.uk

While data published last week showed that June’s air freight rates were depressed, it looks as if they are gently picking up again.

This morning the TAC Index showed that, while a number of routes in the past week had suffered slight declines, overall, rates were generally risen from June lows. Read more here (login required).

OCEAN FREIGHT UPDATES

HMM stays bullish as it sinks deeper into the red, and vows it can cut costs

source: theloadstar.co.uk

HMM recorded a net loss of $215m in the second quarter, taking the South Korean ocean carrier’s deficit to a massive $371m at the half-year stage.

The restructured container line increased liftings by 17%, year on year, in Q2, to 1.15m teu, which it attributed to its “sales expansion efforts” including the launch of its standalone Asia-North Europe loop and larger tonnage on the Asia-South America tradelane. Read more here (login required).

A U-turn on scrubbers as Hapag-Lloyd rethinks its 2020 fuel strategy

source: theloadstar.co.uk

Hapag-Lloyd has decided to trial scrubber technology on two large container vessels early next year and says the investment “could be economically attractive”.

Speaking during the carrier’s H1 earnings presentation last week, chief executive Rolf Habben Jansen said: “We have decided to do a trial with scrubbers which will start in the beginning of 2019 and depending on the results we may do more of that.” Read more here (login required).

GROUND AND RAIL FREIGHT UPDATES

Tragedy as motorway bridge near Genoa port collapses after storm

source: theloadstar.co.uk

A terrible tragedy has hit Genoa which is likely to restrict movement to and from the port. A 200m section of the Morandi bridge on the A10 near the port collapsed. Trucks and cars were trapped under rubble, which fell onto a rail track, after a storm hit the city. The port authority has not yet published any advice, but it maybe worth checking Twitter for updates. Read more here.