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Newsletter – July 3, 2019
AIR FREIGHT UPDATES
Flights Mumbai canceled after the Boeing 737 incident
cargomagazine.nlMUMBAI – Air traffic at Mumbai Airport is still being bothered by an incident that took place on Monday evening. Then a Boeing 737-800 hit SpiceJet during the runway. A large number of flights have been canceled since the incident.
OCEAN FREIGHT UPDATES
Drewry downgrades 2019 container growth forecast to 3%
lloydsloadinglist.comContainer shipping analyst Drewry has downgraded its forecast for global port throughput growth in 2019 to 3% from its previous prediction of 3.9%, as trade and geopolitical tensions threaten a further slowing to global economic growth, and the regionalisation of manufacturing supply chains and environmental concerns add further uncertainty. Read more here.
World’s largest boxship featuring 24 rows across is delivered
splash247.comThe world’s largest containership has been delivered this week by South Korea’s Samsung Heavy Industries.The 400 m long MSC Gülsün is the first boxship in the world to feature 24 rows across giving it up to 1,500 extra container capacity compared to the existing largest container vessels. Read more here.
Shipping Firms Drop British Flag as Brexit Risks Loom
gcaptain.comCompanies are leaving Britain’s shipping registry due to uncertainty over Britain’s departure from the European Union and future commercial arrangements with the bloc, industry officials say. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Officials say migrant checkpoint in Mexico affects cargo truck wait times in Ciudad Juarez
freightwaves.comAfter the threat of President Donald Trump’s tariffs, Mexican freight transporters are now facing a new challenge with an anti-immigration checkpoint in Ciudad Juarez that is stretching wait times up to three hours near the border. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Heaviest rainfall in more than a decade paralyzes Mumbai, home to 20 million people
washingtonpost.comNEW DELHI — Torrential monsoon rain over the last 24 hours has brought Mumbai, India’s second most populous city, to a grinding halt. It received 375 millimeters (almost 15 inches) of rainfall, the highest in 14 years, according to India’s Meteorological Department. Very heavy rain is expected for another day, according to the forecast, before it eases. Read more here.
US threatens wider tariffs against EU goods
lloydsloadinglist.comThe US yesterday widened its threat to impose tariffs against the European Union (EU), part of a broader trade dispute with the EU and the outcome of a World Trade Organization (WTO) case over the EU’s alleged subsidies of the aircraft manufacturer Airbus. Read more here.
Vietnam’s apparel industry braces for cost surge as tech giants move in
asia.nikkei.comTAIPEI — Major apparel makers are halting or slowing their expansion in Vietnam amid worries that the trade war will indirectly push up labor costs as tech giants like Apple seek to shift production out of China. Read more here.