Newsletter – July 19, 2018
AIR FREIGHT UPDATES
BA’s Heathrow Flights Returning To Normal
Flights at London’s Heathrow Airport were returning to normal, but with some delays, on Thursday morning after a double whammy of incidents caused delays and cancellations on Wednesday. Read more here.
OCEAN FREIGHT UPDATES
MSC, Maersk and Zim unveil new strategic cooperation
Mediterranean Shipping Company (MSC) and its 2M alliance partner Maersk Line today unveiled a new long-term strategic cooperation with Israeli container line Zim in which the three carriers will share capacity between Asia and the US East Coast (USEC) from September. Read more here.
Carriers cut transpacific capacity ahead of peak season as tariff impact looms
Despite key economic and trade forecasts painting a positive demand picture, container lines are withdrawing capacity ahead of the peak late-summer transpacific shipping season amid rising concerns among some over how tariffs might impact Sino-US trade. Read more here.
New York launches $100m barge and rail freight programme
Hinterland connections have always been an issue at the port of New York/New Jersey, which currently sees around 90% of the cargo in and out through its gates transported by truck, causing serious congestion woes. According to The Maritime Executive, the port authority has drawn up a raft of measures to reduce this dependence, including building new rail freight terminals and dredging inland waterways to increase barge capacity. Read more here (login required)
GROUND AND RAIL FREIGHT UPDATES
Truck Capacity Beginning to Loosen
According to a DAT industry trends report for July 8 – 14, rates for vans and reefers stepped down a bit last week, but they’re still higher than the average for June. The average van rate fell 7¢ to $2.38 per mile, and the reefer rate dropped 7¢ to $2.70 per mile. After holding steady for two weeks in a row, the flatbed rate dipped 2¢ to $2.80 per mile. Load-to-truck ratios declined for all three equipment types, a sign that capacity is beginning to loosen, the report said. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
No specific licence requirement for the transportation of cannabis, Ottawa says
Federal government officials on Wednesday said there will not be a specific licence requirement for the transportation of cannabis.
Under new regulations unveiled by Health Canada Wednesday, all federal licence holders will be responsible and accountable for the safekeeping of cannabis, which includes the distribution and transportation process. Read more here.