Newsletter – May 12, 2020
AIR FREIGHT UPDATES
Freighter conversions set to surgelloydsloadinglist.comWith demand for passenger aircraft set to remain much diminished for several years and demand for freighter capacity likely to remain above normal levels for a similar period, freighter conversion companies report lively interest in their programmes and observers expect more clients to come forth. Read more here.
LATAM Begins To Sell Travel Certificates That Increase Over Timesimplelflying.comSouth American carrier LATAM is rolling out a new and innovative way to raise some quick cash to sustain itself through this pandemic. Unveiled recently, the program is called #TravelAgain, and it puts forward an exciting proposition: Buy a travel voucher now, and the longer you wait to redeem it, the more it will be worth. So is it a good deal? Let’s find out! Read more here.
OCEAN FREIGHT UPDATES
Feeder operators look to downsize fleets as demand for services fallstheloadstar.comNorth European feeder operators are downsizing their fleets to mitigate the impact of falling demand from ocean carrier customers.One Hamburg-based broker told The Loadstar yesterday there were “very few extensions” being negotiated in the sector. Read more here.
More sailing cancellations on OOCL’s transpacific trade in May and Juneseanews.com.ttHONG KONG’s Orient Overseas Container Line (OOCL), now a Cosco unit, has voided a number of transpacific sailings in response to the low demand in the market caused by the Covid 19 pandemic, the company has announced.A sailing will be cancelled on June 6 from the Pacific China Central 1 (PCC1) service with its port rotation of Ningbo, Shanghai, Busan, Long Beach, Busan and back to Ningbo. Read more here.
Cosco gives a glimpse of China’s future smart portssplash247.comCosco has given a glimpse of its work towards creating autonomous operations at its ports. Cosco Shipping Port has been working with Dongfeng Commercial Vehicle and Chinan Mobile to develop so-called 5G smart ports with Xiamen Ocean Gate Terminal serving as a testbed for much of the new technology including the use of automated driverless trucks. Read more here.
Port of LA chief: ‘We will need to reinvent ourselves’freightwaves.comThe Port of Los Angeles loses approximately $400,000 in revenue with each canceled sailing. With 28 blanked sailings forecast for the remainder of the second quarter through June 30, that’s $11.2 million in revenue the port won’t collect.“But the story is much greater than that,” said Port of LA Executive Director Gene Seroka of the coronavirus pandemic. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
India Reopens Economy But Millions of Workers Stay Homeajot.comWhen Bharat Gite reopened his two aluminum parts factories in India’s western city of Pune, he spent days servicing idle machines, sanitizing his premises and putting in place social distancing norms for staff.His bigger problem now is convincing workers to return to their jobs after millions of Indians fled cities for their rural homes when Prime Minister Narendra Modi imposed a nationwide lockdown at the end of March. Read more here.
Toll hit by another cyber attacksplash247.comAustralian transport nad logistics company Toll Group has suffered a second cyber attack in the space of just three months.Toll confirmed today it was the victim of a cyber attack last week involving ransomeware known as Nefilim. Read more here.