-
02
Jul
Newsletter – July 2, 2019
AIR FREIGHT UPDATES
Pakistan extends closure of its airspace
thehindu.comPakistan on Thursday yet again extended its airspace closure for flights from and through India till July 12. Read more here.
Boeing Admits Air Canada 787 Documents Were Falsified
simpleflying.comMore bad news for Boeing as they admit to falsifying documents relating to a 787 sold to Air Canada. The Dreamliner was sold in 2014 and developed a fault just 10 months after entering service. Read more here.
OCEAN FREIGHT UPDATES
Port Report: THE Alliance brings in Korea’s Hyundai Marine as member
freightwaves.comHyundai Merchant Marine (HMM) will join THE Alliance as a full member. The move comes after an apparent rebuff of the money-losing Korean liner company’s efforts to strike a similar deal with the 2M Alliance. Read more here.
Shippers hit by soaring insurance costs for cargo crossing the Persian Gulf
theloadstar.comCMA CGM, is to implement a war-risk surcharge (WRS) for cargo to and from ports in the Persian Gulf, as insurance underwriters hike premiums for ships transiting this ‘tinderbox’ region. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Cleanup continues at St. Clair River tunnel derailment
theobserver.caRecovery of sulphuric acid that leaked from one of approximately 40 rail cars that derailed Friday in a tunnel crossing beneath the St. Clair River was expected to be completed Monday, according to CN. Read more here.
China unveils a train that cruises at 373 miles per hour
freightwaves.comWith its sights set on redrawing the historic Silk Route across the world, the Chinese government has been sinking billions of dollars into expanding its transport infrastructure, both within the country and outside its borders. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Commentary: Vietnam’s air exports to the U.S. increase as China-U.S. trade war simmers
freightwaves.comThe Asian supply chain is best described as a spider web with China the central focal point. It was like that well before President Trump’s tariffs were implemented. Low-labor manufacturing was already shifting to other nations in Southeast Asia while manufacturing in China took a step up the value ladder. Read more here.