Newsletter – October 16, 2018

AIR FREIGHT UPDATES

Reauthorised FAA legislation has “significant importance” for forwarders

aircargonews.net

The US Airforwarders Association (AfA) has welcomed the Federal Aviation Administration (FAA) Reauthorization Act, which contains legislation of “significant importance to the forwarding industry”. Read more here.

Lufthansa Cargo bans dry ice shipments on 747s to keep animals safer

theloadstar.co.uk

Lufthansa has banned the shipment of dry ice in its 747s to prioritise pets, despite demand from pharmaceutical shippers. Read more here (login required).

OCEAN FREIGHT UPDATES

Box carrier capacity cuts driving spot rate rises

lloydlsloadinglist.com

The increase in spot rates on the transpacific to the highest level since 2013 may possibly be attributed to a post-Golden Week rebound and front-loading of cargoes ahead of further tariffs, according to analyst SeaIntelligence. Read more here.

HMM denies move to take over SM Line’s transpacific business

splash247.com

South Korea’s flag carrier HMM has denied rumours carried in the local press that the company is looking to take over the transpacific portfolio from compatriot liner SM Line. Read more here.

ONE container carrier network now predicting loss of $600m in its first year

theloadstar.co.uk

Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, as it struggles to “restore the trust of customers” after the chaotic April launch.

ONE has alerted shareholders of K Line, MOL and NYK to a $310m loss for the half-year period to 30 September. Read more here (login required).

CANADA GOVERNMENT – BUSINESS UPDATES

Government Rules Halifax Expansion Unsuitable

portstrategy.com

Nova Scotia’s federal cabinet minister is supporting the Canadian Government’s decision not to fund a major expansion at the Port of Halifax, claiming traffic and proposed land use could be problematic. Read more here.

INTERNATIONAL GOVERNMENT – BUSINESS UPDATES

RPT-Unwelcome guest: U.S. tariffs loom at China’s biggest trade fair

reuters.com

BEIJING, Oct 12 (Reuters) – Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China’s largest trade fair Monday. Read more here.