Newsletter – December 5, 2017
Airfreight rates continue to rise as sector faces capacity crunch
Airfreight rate growth continued on an upward trajectory in November with hopes the strong performance could continue in December as
forwarders continue to report a tightening of air cargo space. Read more here.
Investment in JFK air freight infrastructure seeks to revitalise New York gateway
New York’s JFK Airport is poised for a $132m investment to revive its flagging cargo business, after the governor of New York state gave his
blessing to schemes to modernise freight facilities and improve aircraft access. Read more here (login required).
OCEAN FREIGHT UPDATES
Maersk Line set to reflag Hamburg Süd containerships away from Germany
Maersk is to reflag its recently acquired Hamburg Süd containerships away from the German registry, despite its promise of a “light-touch”
Maersk Line confirmed last week its intention to reflag a number of Hamburg Süd vessels, including 10,600 teu flagships Cap San Juan, Cap San Lazaro and Cap San Vincent, to either Danish or Singapore registration early next year. Read more here (login required).
GROUND AND RAIL FREIGHT UPDATES
Trucking companies boycott PortMiami terminal due to delays, slow turn times
The boycott of Port of Miami Terminal Operatoing Co. (POMTOC) began last week as trucking companies have racked up tens of thousands of
dollars in demurrage fees and hours of wait times, according to a report from the Journal of Commerce. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
India’s Plan to Slash Freight Times to 14 Hours From 14 Days
A $7.1 billion rail corridor in Rajasthan that’s set to cut freight times between India’s capital New Delhi and the business hub of Mumbai to
14 hours from 14 days is finally showing signs of progress. Read more here.
China Likely to Overtake U.S. as Largest Importer Within 5 Years
From iron ore to baby formula, electronic parts to durian that smells like gym socks, China is buying everything you can think of, and that
will soon make the world’s biggest exporter the top importer in the next few years. Read more here.