Newsletter – December 6, 2017
AIR FREIGHT UPDATES
Strikes hit Frankfurt cargo capacity, driving forwarders away
STRIKES by two handling agents at Frankfurt Airport have triggered severe congestion and restricted cargo capacity, prompting forwarders to seek alternative airports at a time when capacity is tight. Read more here.
Air freight prices forecast to rise 4% in 2018
Average air freight prices are forecast to rise by a further 4% in 2018, building on the 5% rise in 2017, with volumes predicted to grow by a further 4.5% next year following an estimated 9.3% growth this year, according to the International Air Transport Association (IATA) in its assessment of the year ahead. Read more here.
ICAO backs new air cargo rules on lithium batteries and other dangerous goods
ICAO has backed IATA proposals to segregate shipments containing lithium batteries and those containing class-one dangerous goods in ULDs and cargo compartments. Read more here (login required).
JAL Invests In Boom Supersonic Jet
Japan Airlines (JAL) has announced a strategic partnership with Boom Supersonic, a company developing a new-generation supersonic passenger aircraft. Read more here.
OCEAN FREIGHT UPDATES
Latin America now Maersk Line’s single largest tradelane
Latin American related trades will now become Maersk Line’s single largest tradelane based on capacity deployed, following hte completion last week of its takeover of Hamburg Sud, according to data from Alphaliner. Read more here.
Carrier response differs on ending rate slide in slack season
THE Shanghai Containerised Freight Index (SCFI) went up five per cent last Friday to US$729 per TEU demonstrating that Asia-Europe spot rates can rise even in a slack season of massive overcapacity. Read more here.
INTERNATIONAL BUSINESSS- GOVERNMENT UPDATES
New general agency agreement aims to reduce shipping disputes
A new draft standard general agency agreement, covering a comprehensive list of functions contracted between shipowners and operators and ship agency firms, has been launched. Read more here (login required).
Japan’s exports up 14pc to US$2.6 billion, biggest jump since 2008
JAPANESE exports grew 14 per cent in October year on year, falling short of a 15.7 per cent increase, predicted by economists, a double digit rise for a fourth straight month, the nation’s best performance since 2008, reported Bloomberg. Read more here.