Newsletter – January 22, 2018
AIR FREIGHT UPDATES
Hong Kong breaks world air freight record
The surge in air freight demand during 2017 saw leading airport hubs surpass previous volume records, including Hong Kong International Airport (HKIA), exceeding 5 million tonnes for the first time. Read more here. The surge in air freight demand during 2017 saw leading airport hubs surpass previous volume records, including Hong Kong International Airport (HKIA), exceeding 5 million tonnes for the first time. Read more here.
Etihad pulls A330F fleet as US adds new security rules for Middle East airlines
Etihad has pulled its entire A330 freighter fleet from service and placed the aircraft in storage, in what is likely to be part of a company-wide restructuring plan.
Removing the five A330-200Fs – one of which is known to be leased from Altavair AirFinance – has left the Abu Dhabi-based carrier with just five 777 freighters on active duty. Read more here.
OCEAN FREIGHT UPDATES
Japanese carriers may need to rationalise merged box fleet as new ships arrive
K Line has received the 13,900 teu Milano Bridge, the first of five sister ships to be delivered this year from the Hiroshima yard of Japan’s Imabari Shipbuilding.
The container businesses of three Japanese carriers will merge on 1 April, but K Line, along with MOL and NYK, will still be taking delivery of vessels ordered prior to the decision to consolidate their traffic into Ocean Network Express (ONE). Read more here.
Blanked Chinese New Year sailings are far lower than 2015-2017
CURRENTLY capacity reductions by container shipping lines over the Chinese New Year (CNY) will fall well short of the numbers seen between 2015 and 2017, according to review of planned blank sailings by SeaIntel Maritime Analysis. Read more here.
Newcomer SM Line to launch new China-USWC service in May
SOUTH Korea’s SM Line plans to launch its second Asia-US west coast service in early May. The announcement comes just days after the fast expanding shipping line’s request to collaborate with Hyundai Merchant Marine was turned down. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Canadian Pacific’s net income skyrockets in 2017
Class I railway Canadian Pacific recorded a net income of $2.41 billion Canadian (U.S. $1.94 billion) for 2017, surging from C$1.6 billion for 2016, the company reported Thursday. Read more here.
CANADIAN BUSINESS – GOVERNMENT UPDATES
Lac Megantic accused all acquitted on Day 9 of jury deliberations
Sherbrooke, QC —One of the most closely watched Canadian trials in recent years ended Friday with the acquittal of three former railway employees who were charged with criminal negligence causing the death of 47 people in the Lac-Megantic tragedy. Read more here.