Newsletter – July 11, 2018
AIR FREIGHT UPDATES
Vietnam’s Bamboo Airways Gets Government Go-ahead source: news.airwise.com
The Vietnamese government has approved the establishment of Bamboo Airways after the airline completed all necessary legal procedures. Read more here.
FIS publishes first airfreight futures forward curve
Freight Investor Services (FIS), which specialises in shipping derivatives, has published the first airfreight forward price curve, “beginning a new era of risk management in this $70bn freight market”. Read more here.
Why, amid a shortage of widebody freighters, is the A330 given a wide berth?
The much-discussed lack of maindeck capacity in air cargo has given a new lease of life to ageing freighters that seemed headed for oblivion.
However, not every viable cargo plane is being rushed back into action. Read more here
OCEAN FREIGHT UPDATES
‘Hapag-Lloyd would rather take over CMA CGM htan vice versa’: Klaus-Michael Kuhne
CMA CGM has made overtures to German rival Hapag-Lloyd, but the merger talk was flatly rejected. In comments reported by Alphaliner from an intriguing annual general meeting in Hamburg yesterday, key Hapag-Lloyd shareholder Klaus-Michael Kuhne, said: “Hapag-Lloyd would rather take over CMA CGM than vice versa.” Read more here.
Sihanoukville port expansion gives politically troubled Cambodia a lift
Cambodia’s Sihanoukville Autonomous Port (PAS) has launched operations at its new multipurpose terminal, paving the way for larger ships to call. Read more here (login required).
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
US launches new tariffs on $200bn of Chinese goods
Cargo owners and their logistics representatives are bracing for a further escalation in the US-China trade war after US President Donald Trump ordered the office of the US Trade Representative (USTR) to begin the process of imposing tariffs of 10% on an additional $200 billion of Chinese imports – said to include fruit and vegetables, handbags, refrigerators, rain jackets and baseball gloves. Read more here.