Newsletter – November 13, 2020
AIR FREIGHT UPDATES
Air Canada plans a dedicated freighter fleet to expand cargo businesstheloadstar.comAir Canada (AC) was the first airline to remove seats and deploy passenger aircraft as freighters back in April, when Covid-19 lockdowns grounded fleets.Now the airline is preparing to turn 767s into permanent freighters to establish main deck capacity as a long-term strategic plank in its operation. Read more here.
India needs more major air cargo hubs to attract transhipment traffictheloadstar.comIndia’s airlines and airports need more international cargo to meet the country’s ambitious throughput targets, say stakeholders.The goal for India’s airports is to handle 10m tonnes of cargo a year by 2027 – almost triple the current rate. Read more here.
OCEAN FREIGHT UPDATES
Carriers reigning supreme this peak seasonfreightwaves.comWe expect strong holiday truckload and parcel demand on the back of a consumer spending portfolio that has been weighted heavily toward goods over services since the pandemic began. Read more here.
Cheaper fuel and cost-cutting steers Hapag-Lloyd to a 73% rise in Q3 profitstheloadstar.comHapag-Lloyd recorded a net Q3 profit of $290m, up 73%, to take the carrier’s profit for the nine-month period to $605m, nearly double the $333m achieved the previous year.However, the carrier’s most profitable quarter could be yet to come, given that Hapag-Lloyd’s accounting system works on an end voyage basis, lagging most of its peers by two to three weeks. Read more here.
GROUND AND RAIL FREIGHT UPDATES
COVID-19: IRU warns of wave of bankruptcies in road transportlloydsloadinglist.comCOVID-19 is continuing to have a “catastrophic impact” on commercial road transport due to the operating restrictions put in place to mitigate the pandemic and the overall economic downturn, according to new research from the International Road Transport Union (IRU). Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Now you can pay an extra 2 cents per litre at Shell gas stations to offset your carbon emissionsfinancialpost.comShell announced Thursday it would roll out its Drive Carbon Neutral program in Canada that will allow customers filling up their cars and trucks at Shell gas stations to purchase carbon offsets on their gasoline. Read more here.
Pandemic ‘scars’ may have long effect on economyinsidelogistics.caOTTAWA – The second-in-command at the Bank of Canada is warning that economic “scars” from the Covid-19 pandemic could become permanent without concerted effort from all Canadians. Read more here.