Newsletter: February 16, 2022
AIR FREIGHT UPDATES
Boeing is converting even more jets into cargo freighters
Boeing Co., which has almost doubled its capacity to turn passenger jets into freighters since the pandemic began, is considering adding even more as demand for air cargo extends into 2022.
“There could be additional lines in the Asia region,” Ted Colbert, head of Boeing’s global services division, said during an interview with Bloomberg at the Singapore Airshow Tuesday. “I see that as a strong place of demand, without a doubt.” Read more here.
What Canada’s Relaxed Travel Rules Mean For Passengers
Canada has announced it will relax its COVID-related travel requirements from February 28th. With COVID cases on the decline, Canada will begin to phase out its entry restrictions. We explore these changes and how they will affect travelers. Read more here.
OCEAN FREIGHT UPDATES
Global port congestion shows little sign of improvement
Container shipping analysts around the world have this week been providing updates on the global port congestion picture with shippers told to brace for further hindrances going into Q2.
Asia-based Linerlytica pointed out today that while congestion has eased this week in most parts of Asia, it continues to escalate in North America, with both west and east coast ports reaching new record highs during the past seven days. Read more here.
Urgently needed more container handling capacity agreed upon at India’s top port
APM Terminals Mumbai, also known as Gateway Terminals India (GTI), will invest $115m in infrastructure development to increase its container handling capacity by 10% to 2.18m teu.
GTI is a joint venture between APM Terminals and domestic rail operator Container Corporation of India (Concor), operating at Jawaharlal Nehru Port Trust (JNPT) located at Nhava Sheva. Read more here.
Supply chain signals: New-container prices and production finally peak
For a telling window on the global supply chain crisis, watch the market for the containers themselves: the commoditized, corrugated steel boxes that move the world’s cargo.
The extremely consolidated container manufacturing industry in China built more containers than ever before in 2021: 7.18 million twenty-foot equivalent units, according to consultancy Drewry, up 130% from 2020 and 62% from the previous record year in 2018. Read more here.
THE Alliance drops transpac pendulum loop ‘to improve schedule integrity’
THE Alliance is dropping one of its two pendulum loops and replacing the string with separate Asia to North Europe and Asia to US west coast services. Read more here (login required).
CANADA BUSINESS- GOVERNMENT UPDATES
Vancouver Fraser Port Authority Gateway
Infrastructure Fee 2022 (GIF2022) – Notice of Fee Implementation
The Vancouver Fraser Port Authority Board of Directors has approved proposed fee amendments that will take effect on May 1.
Anyone interested in making a written representation to the VFPA on the subject of the proposed fee may do so prior to April 15. See the notice here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Returns are causing a holiday hangover for retailers
On Monday, millions of Americans celebrated Valentine’s Day, but retailers were still celebrating Christmas.
While the winter holiday season ended over a month ago for consumers, retailers are still in the thick of it, contending with a mountain of product returns the likes of which they’ve never seen. According to a report from the National Retail Federation, U.S. consumers will return about $158 billion worth of goods purchased between Nov. 1 and Dec. 24. That’s more than a 56% increase year over year. Read more here.