Newsletter – November 30, 2018
AIR FREIGHT UPDATES
Airfreight rates reach high for the year in October
Airfreight rates reached their highest level of the year in October and are expected to climb further as the peak season gets underway.
The latest figures from consultant Drewry in its Sea & Air Shipper Insight report show that average rates on 57 key trades reached $3.02 per kg in October compared with $2.81 per kg in September. Meanwhile, prices are up 8.6% year on year. Read more here.
OCEAN FREIGHT UPDATES
Ocean Network Express CEO admits what went wrong and unveils recovery strategy
The Ocean Network Express (ONE) management “underestimated the initial launch resource requirement” in April, resulting in a significant loss of business and a $400m impact on its bottom line. Read more here.
Norden trials used vegetable oil as fuel
Denmark’s Norden has becomed the latest shipowner to offer clients shipmentes powered by vegetable oil. Read more here.
HMM aims for 7% market share on main east-west container tradelanes by 2021
In a remarkably bullish two-page press release issued today South Korean flagship HMM has claimed it will have a 7% market share on the main est-west container tradelanes by 2021. Read more here.
GROUND AND RAIL FREIGHT UPDATES
CN’s Ruest Named Railroader of the Year
MONTREAL, Nov. 26, 2018 (GLOBE NEWSWIRE) — Today, Railway Age announced that the 56th annual recipient of the Railroader of the Year Award is CN President and Chief Executive Officer Jean-Jacques “JJ” Ruest, leader of one of North America’s best-performing Class I railroads. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Trump’s Threats to Close the Border Add Thousands to Shipping Costs
The traffic is moving again at San Ysidro, one of the busiest border crossings in the world.
That doesn’t mean businesses here in Tijuana are resting easy. They’re plotting alternate routes and speeding up shipments from factories that produce everything from semiconductors to pacemakers to seat belts. Read more here.