Newsletter – February 26, 2024

India Renews Open Sky Policy for Foreign Air Cargo Carriers
theloadstar.com
In a significant move, India has liberalized its aviation policy to permit foreign cargo airlines to operate out of all its international airports – a mandate lasting three years.
Under restrictions imposed in 2020 among COVID-related protocols, ad hoc freighter operations by foreign carriers were allowed only from the six major airports: Mumbai, Delhi, Bengaluru, Chennai, Kolkata and Hyderabad. Read more here (login required).

More investment in CMA CGM Air Cargo pledge, despite weak market
theloadstar.com
Anyone hoping to see how CMA CGM’s airline is faring via the group’s 2023 financial results released on Friday, will be disappointed.
Because, as before – and as with Maersk – the French shipping group files its airline results under “Other”, which also includes terminals and “other investments”. Read more here (login required).

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OCEAN FREIGHT UPDATES

Carriers face chilly response to their new transpacific contract rates
theloadstar.com
Transpacific container spot rates remain high as the contracting season moves into gear – however new contract proposals from carriers may get the cold shoulder.
Xeneta’s XSI Asia-US west coast component ticked up 1% this week, to an average of $4,762 per 40ft, which compares with the reading for the same week of last year of just $1,329 per 40ft. Read more here (login required).

Shippers cheer US FMC final rule on ‘abusive’ D&D practices
theloadstar.com
Shippers have welcomed the US Federal Maritime Commission’s final rule on detention and demurrage billing practices.
The Agriculture Transportation Coalition (AgTrans) said this was a “major step” towards reform of the “abusive” practices – but it warned that “there is work that remains ahead for shippers, carriers and all others in the supply chain”.  Read more here (login required).

Red Sea crisis offers glimpse into future global supply chains
aircargoweek.com
At the forefront of these recurrent crises, Aramex UK has been helping clients navigate through the complexities of the global logistics arena, leveraging its extensive worldwide network and decades of experience to ensure its clients’ shipments continue moving regardless of the state of play. Read more here.