Newsletter – February 4, 2020
AIR FREIGHT UPDATES
Transatlantic ‘revolution’ as AF-KLM, Delta and Virgin cargo businesses link uptheloadstar.comShippers and forwarders will receive better connections, routing options, trucking facilities and digital solutions, claims a new transatlantic joint venture from Delta Cargo, AF-KLM Cargo and Virgin Atlantic Cargo. Read more here.
Airport refuellers end month-long strike after ratification vote on new dealthestar.comMontreal airport refuellers are heading back to work after approving a three-year agreement with Swissport Canada Inc. following a month-long strike.The roughly 100 workers ratified the agreement in principle on Thursday after reaching a tentative deal shortly before sunrise a day earlier. They are slated to go back on the job Tuesday. Read more here.
OCEAN FREIGHT UPDATES
Coronavirus: Chinese ports waive storage feeslloydsloadinglist.comChinese ports have announced they will waive their storage charges for loaded containers amid the extended holidays in the country enacted to deal with the coronavirus outbreak. Read more here.
Maersk, CMA CGM blank sailings as coronavirus spreadssupplychaindive.comMaersk and CMA CGM announced blank sailings Friday as the container lines see curtailed demand due to the coronavirus outbreak in China and the extension of the Lunar New Year holiday.The two carriers said operations at terminals, warehouses, depots and offices in China, with the exception of Wuhan, continue uninterrupted. Read more here.
More blank voyages as ONE expects a slide back into the redtheloadstar.comJapanese carrier ONE has forecast a $49m loss for the current quarter, blaming weak demand following the Chinese new year.To mitigate the soft booking outlook, ONE and its member partners of THE Alliance will blank further sailings in Q1. Read more here.
GROUND AND RAIL FREIGHT UPDATES
New Track Disruption in B.C.ciffa.comCN is currently experiencing a service disruption as a result of a new washout caused by the heavy rainfall occurring throughout the lower British Columbia mainland between Boston Bar and Vancouver.CN crews are working around the clock to clear the site and resume normal operations. Delays through the region are anticipated.
CN Rail workers ratify collective agreement that focuses on employee fatiguectvnews.caMONTREAL — Teamsters Canada says rail workers have approved a three-year collective agreement with Canadian National Railway Co.Conductors and yard workers voted 91 per cent to ratify the deal, which covers roughly 3,200 employees represented by the Teamsters Canada Rail Conference. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Slowing Chinese demand due to coronavirus hits oil pricesfreightwaves.comCrude oil prices are seeing sharp declines to start the week as concerns mount about weaker demand in China due to the coronavirus. The unfolding crisis in the world’s second-biggest economy has one major investment bank seeing the potential for a further 13% price drop in the coming months. Read more here.