Newsletter – July 24, 2019
AIR FREIGHT UPDATES
British Airways Loses Legal Bid to Halt Pilot Strikenews.airwise.comBritish Airways’ bid to stop a potential August strike by its pilots hit a legal speed bump with a UK court turning down the airline’s injunction to prevent it. Read more here.
OCEAN FREIGHT UPDATES
Transpacific ocean freight volatility to increase in Q4lloydsloadinglist.comAs the US-China trade war continues to throw up mixed Transpacific eastbound market signals, a leading executive believes one outcome could be a repeat of an importing surge in the fourth quarter. Read more here.
‘Smart’ container fleet set to increase tenfold over next five yearstheloadstar.comThe number of smart containers in the world’s box fleet could increase tenfold over the next five years, according to new research from Drewry Maritime Advisors. Read more here.
Maersk Honam renamed and ready to sail againtheloadstar.comLast year a fire tore through the Maersk Honam leading to the loss of five sailors. Less than 18 months later the ship has been repaired, renamed and is back on duty. Read more here (login required).
Tariffs drag down Long Beach container volumes by 10pcseanews.com.trCONTAINER volumes fell by 10 per cent year on year at the Port of Long Beach as the ongoing trade war affects the US West Coast hub.The port’s executive director, Mario Cordero, said: ‘The story we saw develop in 2018 was retailers forwarding goods to beat tariffs. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
U.S. negotiators to head to China Monday for face-to-face talksbnnbloomberg.caU.S. Trade Representative Robert Lighthizer and senior U.S. officials are set to travel to China next Monday for the first high-level, face-to-face trade negotiations between the world’s two biggest economies since talks broke down in May. Read more here.
IMF cuts growth forecast, warning that tariff wars and Brexit could do even more damagebusiness.financialpost.comWASHINGTON — The International Monetary Fund on Tuesday lowered its forecast for global growth this year and next, warning that more U.S.-China tariffs, auto tariffs or a disorderly Brexit could further slow growth, weaken investment and disrupt supply chains. Read more here.