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Newsletter – October 25, 2019
AIR FREIGHT UPDATES
EIA using drones to save time, money on runway inspections
canadianshipper.comEdmonton, AB — A different kind of aircraft landed at Edmonton International Airport this past weekend as a highly specialized drone was used to conduct runway safety inspections. Read more here.
OCEAN FREIGHT UPDATES
Debt-burdened HMM to issue $562.4 million convertible bond
freightwaves.comSouth Korea-based ocean box shipping line Hyundai Merchant Marine (KRX: 011200) has revealed plans to issue a 660 billion Korean won (US$562.4 million) convertible bond. It’s a bold move for a company that’s already carrying KrW4.1 trillion (US$3.49 billion) of debt. One analyst has described the company as having a “horrible balance sheet”. Read more here.
November on course to be the crunch month for ocean carriers
theloadstar.comNovember will be a decisive month for ocean carriers as they go all out to push up container spot rates on the key tradelanes of Asia=Europe and the transpacific. Read more here (login required).
GROUND AND RAIL FREIGHT UPDATES
CP and CN both lower their shipment forecasts, signalling an economic slowdown
business.financialpost.comCanada’s two railroads expect to ship less freight than previously forecast this year, signalling a larger economic slowdown given the transportation industry’s status as an economic bellwether. Read more here.
North American intermodal traffic hits the buffers, but some signals are brighter
theloadstar.comThat sinking feeling continues: the Association of American Railroads (AAR) is looking back on a bleak year for intermodal traffic, and for the week that ended October 19, the organisation reported a 9.3% downturn in intermodal volumes. Read more here (login required).
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Some U.S. electronics factories start layoffs as trade tariffs hit
reuters.com(Reuters) – U.S. electronics factories are investing less and slowing hiring or laying off workers in some cases due to the rising costs of trade tariffs, according to an industry survey set for release on Wednesday. Read more here.