Newsletter – May 24, 2019

AIR FREIGHT UPDATES

IATA: airline profits fall further

aircargonews.net
The March/April Airlines Financial Monitor from IATA notes “a further fall in aggregate profits for the airline industry” for the first quarter of 2019, in comparison with the same three months of last year. Read more here. 

Turkish Cargo’s dual-terminals operating ‘seamlessly’

lloydslaodinglist.com
Turkish Cargo’s claims that its ‘dual-terminal’ system using two airports in Istanbul for its main international cargo operations has been operating “seamlessly”, with no negative impact on its business from having to shuttle freight between the new Istanbul Airport, where its passenger flights are now based, and the old Ataturk Airport, where it freighter operations continue to be based for the time being. Read more here. 

OCEAN FREIGHT UPDATES

International Longshore And Warehouse Union-Canada Serves Strike Notice

ciffa.com
On the evening of May 23, 2019 the BC Maritime Employers Association announced that it had just received formal, written 72-hour strike notice from ILWU Canada relating to ongoing labour negotiations in British Columbia.
Strike notice has been specifically directed to GCT Global Container Terminals Canada effective on 7am on Monday, May 27, 2019 in British Columbia.
The BCMEA said it has a plan in motion to address next steps and will update further as the situation develops.
The BCMEA said it remained committed to the collective bargaining process and would continue to bargain in good faith. CIFFA will update membership on any further developments as they arise.

Carriers blank more sailings as transpacific box rates continue to fall

theloadstar.com
A blanked sailing from the 2M+HMM grouping on the transpacific this week failed to halt the further erosion of freight rates to both the Asia-US west coast and Asia-US east coast destinations. Read more here. 

Nine-year-old boxship sent for demo in Bangladesh

splash247.com
A very young boxship has been sent for scrap. The Aeneas, a Chinese-built, nine-year-old boxship, has arrived at Chittagong’s anchorage, according to MarineTraffic, awaiting to be broken up. Read more here. 

GROUND AND RAIL FREIGHT UPDATES

CN announces new COO and chief information technology officer

seanews.com.tr
THE Canadian National Railway (CN) has announced Rob Reilly will become vice president and chief operating officer on July 1 and Michael Foster will become vice president and chief information and technology officer on June 3. Read more here. 

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

IMF Says U.S. Is Paying China Tariff Costs, Contrary to Trump’s Claim

bloomberg.com
Companies in the U.S. are paying almost all the costs from Donald Trump’s tariffs on Chinese imports, IMF researchers said in findings that contradict the president’s assertions that China is footing the bill. Read more here.