Newsletter – February 14, 2024

Maersk takes air cargo bookings fully digital
aircargonews.net
Maersk has launched a “fully digital solution” for airfreight that it said offers customers “instant prices”.
The digital solution means that Maersk’s customers can now book air cargo shipments for any of 70,000 airport pairings across more than 90 countries around the world. Read more here.

Air cargo congestion not widespread, despite higher volumes
theloadstar.com
News of severe air cargo congestion at some handling facilities at airports with sea-air traffic appears not to be widespread –however, airlines do acknowledge high volumes currently.
This week, dnata in Dubai and BFS in Bangkok both announced a suspension on cargo: but these appear to be localised issues. Emirates SkyCargo said its Dubai operations were unaffected and one industry data analyst said they could not see anything in current rates to indicate widespread problems. Read more here (login required).

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OCEAN FREIGHT UPDATES

Maersk had more cash than it knew what to do with — but not anymore
freightwaves.com
Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the company’s pandemic-era bonanza is well and truly over, it’s time to take a retrospective look at how Maersk invested its cash when profits were pouring in by the billions. Read more here.

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GROUND AND RAIL REIGHT UPDATES

Quebec Issues Spring Thaw Dates
transport.gouv.qc.ca
Quebec’s Ministry of Transportation has published the anticipated thaw period dates for the three Thaw Zones across Quebec. During thaw periods, heavy vehicles travelling on the road network must reduce their loads, in accordance with the limits imposed by the Vehicle Load and Size Limits Regulation. Find more information here.

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INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

The India Advantage: 6 Reasons Why Supply Chains Are Leaving China
scmr.com
Global trade patterns have been on the move for the last five years as U.S. companies continue to focus on diversifying their supply chains. Combine steep tariffs and an unprecedented pandemic with increasing climate disasters, geopolitical tensions, and greater consumer preference for sustainable and ethical practices, and it becomes clear that supply chains must continue to evolve to mitigate these higher costs and disruptions. Read more here.

The Light Load: It’s a mad, mad, mad, mad supply chain world
freightwaves.com
Why do international supply chains suddenly feel like a reboot of “It’s a Mad, Mad, Mad, Mad World” or a blood sport version of “The Amazing Race”?
For those who haven’t witnessed the former, it was a 1963 gargoyle of a movie. I say “witnessed” because you don’t exactly “watch” “It’s a Mad, Mad, Mad, Mad World.” You may like it. You may hate it. But you can only stare agape as it passes by. The film starred everybody — and I mean everybody — from Spencer Tracy to Ethel Merman to Mickey Rooney, with The Three Stooges thrown in for no apparent reason.  Read more here.