Newsletter – January 8, 2020
AIR FREIGHT UPDATES
FAA bans US airlines from flying over Iraq, Iranfreightwaves.comFollowing Tuesday night’s Iranian missile attack on U.S. military assets based in Iraq, the Federal Aviation Administration banned U.S. airlines from flying in the airspace over Iran and Iraq and the waters of the Persian Gulf and the Gulf Oman. Read more here.
Hong Kong Protests Set United Back $90 Millionsimpleflying.comThe ongoing civil unrest in Hong Kong is having an affect on most, if not all of the carriers flying to the destination. United Airlines is no different seeing profits hit by $90 Million according to the airline.The ongoing protests in Hong Kong was a story that ran through the course of 2019. While affecting many airlines, the effects have been varied. Read more here.
IATA: Pressure appears to have eased on declining airfreight marketaircargonews.netIATA’s latest airfreight market analysis, which details figures for November 2019, noted that industry-wide freight tonne kms (FTKs) dipped by 1.1% year on year. This marked the 13th consecutive month of year-on-year decline in airfreight volumes. Read more here.
OCEAN FREIGHT UPDATES
Pre-Chinese New Year box import bump disappointsfreightwaves.comU.S. containerized imports from Asia usually jump at the tail end of the year and the early days of the new year, as importers scramble to get boxes on the water before the onset of the Chinese New Year holiday. In early 2020, there’s some increased activity, but it pales in comparison to prior years. Read more here.
Misdeclared lithium battery cargo caused Cosco Pacific firetheloadstar.comAfter yesterday’s news of the first containership fire of 2020, worldmaritimenews reports that Chinese authorities have moved with amazing speed to identify the cause of the blaze which broke out on the Cosco Pacific on 5 January en route from Port Klang to Jawaharlal Nehru Port: a shipment of misdeclared lithium batteries. Read more here (login required).
GROUND AND RAIL FREIGHT UPDATES
CN Strike Linked to Plunge in Canada’s Trade Volumesfreightwaves.comThe strike by Canadian National rail workers helped bring down Canada’s trade volumes during November, Statistics Canada reported.The eight-day disruption across Canada’s largest rail network coincided with 1.4% decline in exports to C$48.7 billion and 2.4% drop in imports to C$49.8 billion, Statistics Canada said in its monthly international merchandise trade report on Jan. 7. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Retaining supply chain fluidity amid Chinese New Year shutdownsajot.comChinese New Year (CNY) is one of the most impactful events to international trade. In 2020, January 25th will be the first day of CNY, known as the “Year of the Rat”. The Lunar New Year is also celebrated in other Asian countries such as Vietnam and Korea also at the same time. Read more here.