Newsletter – September 4, 2018

AIR FREIGHT UPDATES

Air China plans to sell majority share in its cargo business

theloadstar.co.uk
SHANGHAI (Reuters) – Air China Ltd (601111.SS) (0753.HK) said it would sell a 51 percent stake in Air China Cargo to a sister unit for 2.44 billion yuan (274.47 million pounds) to focus more on its passenger unit, as it reported a 4.3 percent rise in first-half profit. Read more here.

Airfreight rates on major lanes reach their highest level of the year in August

aircargonews.net
Airfreight rates on Asia-Europe and transpacific services reached their highest level of the year so far in August, while forwarders have started warning of peak season capacity constraints. Read more here.

California Pacific Air Sets November Launch Date

news.airwise.com
California Pacific Airlines has announced plans to start scheduled passenger services from its Carlsbad base from November 1.
The airline will fly nonstop routes between McClellan-Palomar Airport in Carlsbad and San Jose, California, and Reno-Lake Tahoe, Nevada starting November 1, and to Las Vegas from November 15. Read more here.

OCEAN FREIGHT UPDATES

Evergreen Turns 50

splash247.com
Taiwan’t Evergreen Group celebrated its 50th anniversary on Saturday. The group founded by Dr Chang Yung-Fa owns Eva Air and Evergreen Line, the world’s seventh largest boxline. Read more here.

Sea freight supply-demand mismatch ‘most apparent on major east-west trades’

lloydloadinglist.com
Container shipping’s predicted fundamental supply-demand rebalance this year and the resulting higher freight rates now seem unlikely to happen, with the mismatch between demand and supply most apparent on the major east-west trades, according to international shipping association Bimco. Read more here.

Transpac boom rolls on, and containers continue to be rolled over

theloadstar.co.uk
Container spot rates on the transpacific have continued to soar as shippers scramble for space to beat 1 September US import tariff hikes.
Anecdotal reports from China suggest carriers are obtaining substantial premiums in return for guaranteed loading of containers. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Intermodal wrangles just making the pain worse for US shippers using rail

theloadstar.co.uk
For long-suffering rail customers in the US, further grief is on the horizon.
From September 17, those which have to move traffic across Chicago on Union Pacific and CSX will face a costly slalom on nearly 200 routes. Read more here.