Newsletter – March 14, 2018
AIR FREIGHT UPDATESIATA presents the FACEs of the future, as the air cargo industry evolvessource: theloadstar.co.ukThe next generation of the air cargo industry is engaging, dynamic and confident, with interesting questions, good ideas – and a sense of humour.At yesterday’s FACE (Future Air Cargo Executive) event, on the eve of the World Cargo Symposium in Dallas, about 40 delegates – refreshingly split evenly between genders – revealed how the industry could look in 15 to 20 years’ time. Read more here.
OCEAN FREIGHT UPDATESMajor shipping carriers’ consolidation nears end: Lars Jensensource: shippingazette.comCHIEF executive officer of Seaintelligence Consulting, Lars Jensen, says the container shipping industry is “near the end game for consolidation among major carriers,” with the possibility of as many as 30 per cent of the 100 largest regional or niche carriers disappearing over the next five years as a result of mergers and acquisitions in the coming years. Read more here.
Calmer waters for box trades this year as supply:demand ratio evens outsource: theloadstar.co.ukDespite continuing soft container spot rates after the two-week Chinese New Year trade hiatus, ocean carriers remain bullish on the prospects of the deepsea trades in 2018.Graham Slack, Maersk Group chief economist, told delegates at last week’s TPM event in Long Beach that, following a strong 2017, he believed supply-demand fundamentals this year would improve. Read more here (login required).
Insurers brace for multi-million-dollar claims as Maersk Honam is towed to port
The insurance industry is bracing itself for hundreds of millions of dollars of claims from the biggest container vessel casualty to date – but some shippers will not have been insured.
A Maersk spokesman told The Loadstar today no decision had yet been reached on the port of destination for the fire-damaged 15,262 teu Maersk Honam. Read more here (login required).
Singapore’s innovation drive
The Lion Republic is at the forefront of digital trials set to tranform maritime as delegates attending today’s Asia Pacific Maritime exhibition at Marina Bay Sands are likely to find out. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATESHK economy could be victim of China-US steel tariff warsource: shippingazette.comTHE move by the US to impose steel and aluminium tariffs on China’s exports has sparked an outcry in Hong Kong where industry players warn of repercussions that could hit the city’s stock market, investor confidence and capital markets, according to deputy to China’s legislature David Wong Yau-kar, who’s is also the former US Federal Reserve economist. Read more here.