Newsletter – June 6, 2018
AIR FREIGHT UPDATES
Online shopping boom keeps hopes high for air freight profits
SYDNEY (Reuters) – An explosion of e-commerce demand is buoying the air freight business, boosting profit at some major airlines despite global trade tensions and underscoring robust consumer confidence. Read more here.
OCEAN FREIGHT UPDATES
Industry leaders forecast the future for container transport
Predictions by industry leaders about the future for container transport over the next 25 years suggest that the key players will change and trade flows will become more balanced, while digitalisation and automation will play an ever-increasing role, but the physical characteristics are likely to remain fundamentally the same, according to a new survey. Read more here.
Panamax daily hire rates hit $16,000 as open tonnage availability dries up
The daily hire rate for panamax containerships has surged by 30% in the past month as brokers report the sector to be “virtually sold out”.
According to the latest Alphaliner data, only one 4,000-5,299 teu ‘classic’ panamax vessel is currently classified as idle, compared with about 100 at the end of 2016. Read more here.
China still powers ahead as Asia-Pacific captures more contract logistics
The Asia-Pacific region will take an even bigger share of the global contract logistics market, as the developed economies of Europe and the US lose ground.
According to Ti’s Global Contract Logistics 2018 report, contract logistics providers in Asia-Pacific will see their market share increase by almost 7% in the next four years, with China the big winner. Read more here.
INTERNATIONAL BUSINESS AND GOVERNMENT UPDATES
UPS Workers Grant Strike Powers as July Contract Deadline Looms
United Parcel Service Inc. workers authorized their union to call what would be the first strike since 1997, giving negotiators more leverage in talks to replace a labor contract that expires at the end of July. Read more here.