Newsletter – December 28, 2018
AIR FREIGHT UPDATES
Collaboration within air freight finally making progress
Collaboration within the various parties in the air logistics chain appears to be finally making progress, according to several senior figures within air freight operations. Read more here.
Air freight rates hit four-year high in November, says Drewry
Air freight rates on major East-West routes hit a four-year high in November, according to the results of Drewry’s latest East-West Air Freight Rate Index. Read more here.
Vinci Acquires Control Of Gatwick Airport
French airport operator Vinci has agreed to buy a controlling stake in London’s Gatwick Airport, the UK’s second biggest airport. Read more here.
OCEAN FREIGHT UPDATES
Lines in strong position ahead of transpacific contract negotiations
Liner efforts to retain the same buoyancy in transpacific eastbound spot freight rates in the early months of 2019, ahead of second quarter annual contract negotiations with shippers, should succeed given improved market fundamentals now compared to a year ago, according to analysts. Read more here.
CMA CGM containership and cargo ship collide near Hong Kong
French containership operator CMA CGM’s 9,415 teu post panamax boxship CMA CGM Norma collided with Chinese general cargo ship Yusheng366 near Hong Kong waters on Monday. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Beijing eases trade war impact with new round of tariff cuts for 2019
CHINA’s finance ministry said that it will cut tariffs on more than 700 imported goods starting January 1, cutting costs for Chinese consumers and fulfilling pledges to open up its economy, Bloomberg reports. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
No grain in the rain as Vancouver export ships unable to load
As Canadian grain companies spend millions to upgrade and build new export terminals in Vancouver, a new problem is threatening to cause transportation bottlenecks at the nation’s largest port: vessels can’t load grain in the rain. And it rains a lot in Vancouver. Read more here.