Newsletter – November 8, 2018

AIR FREIGHT UPDATES

Airfreight rates on key trades reach new highs for 2018

aircargonews.net
Airfreight rates on the transpacific and Asia-Europe lanes continue to improve in October despite capacity growth outstripping demand improvements.
Read more here. 

People’s vote means new Mexico City airport at Texcoco must be abandoned

theloadstar.co.uk
Hopes of some relief at Latin America’s most congested airport suffered a major setback after a referendum rejected the new airport for Mexico City.
Already one-third completed, the ambitious but controversial new airport at Texcoco now looks set to be scrapped. Read more here. 

OCEAN FREIGHT UPDATES

Hapag-Lloyd’s third-quarter turnaround sees it steam back into profit

theloadstar.co.uk
A third quarter performance “at the upper end of our expectations” saw Hapag-Lloyd recover all of its first-half losses to end the nine-month period $15m in the black. Read more here. 

CMA CGM meets oil price hike with US$100/TEU dry levy December 1

shippingazette.com
FRENCH shipping giant CMA CGM will levy an “emergency bunker recovery measure adjustment” in response to the increase in oil prices, the company announced.
Consequently, as from December 1 date of loading until further notice, the new amount of this measure, based on the Brent average price in October, will be applied to all long-haul cargo worldwide excluding Taiwan at a rate of US$100 per dry cargo TEU and $130 per reefer TEU.

GROUND AND RAIL FREIGHT UPDATES

Los Angeles, Long Beach ports tackle ‘chassis dislocation’ for truckers

seanews.com.tr
SHIPPERS and truckers at the ports of Long Beach and Los Angeles are increasingly being urged to return empty containers to terminals different from where they picked up an import load, while having to deal with a shortage of chassis at some facilities. Read more here. 

CANADA BUSINESS – GOVERNMENT UPDATES

Prince Rupert port to receive $22M for infrastructure projects

canadianshipper.com
Prince Rupert, BC — The Port of Prince Rupert announced that it is the recipient of $21.9 million in funding from the Government of Canada to support three separate projects that will enable transportation infrastructure and gateway growth. Read more here.