Newsletter – October 24, 2019
AIR FREIGHT UPDATES
Hong Kong Protests Set Qantas Back $25 Millionsimpleflying.comFollowing a busy week after launching its record-breaking flight from New York to Sydney, Qantas has announced its first-quarter revenue figures. The airline shared that demonstrations in Hong Kong, along with disputes between the United States and China had a negative impact on its profits. Read more here.
U.S. workers ratify labor deal with Air Canadafreightwaves.comUnion members belonging to the International Brotherhood of Teamsters have ratified a new 10-year contract with Air Canada.The airline said it was notified of the results by the union on Wednesday. The IBT represents the airline’s 700 U.S.-based employees, including air cargo workers. Read more here.
OCEAN FREIGHT UPDATES
Still-bullish charter market being driven by more scrubber fittingtheloadstar.com
Notwithstanding the start of the winter slack season the container charter market remains robust, buoyed by a shortage of tonnage caused by the substantial number of ships taken out of service for scrubber retrofitting. Read more here.
AE2 Blank Sailing Extension Announcementmaersk.comIn connection with the reduced demand in the months of October and November, Maersk has endeavoured to balance our network to match reduced demand. We aim to minimize the impact to our customers supply chain and provide predictability by making a structural change and securing alternative routings. Read more here.
Chittagong port to have EagleRail soon; deal signed with US firmdaily-sun.comThe Chittagong Port Authority on Thursday signed a deal with US firm EagleRail Container Logistics to introduce EagleRail Overhead Conveyance System, a fully-automated technology to handle containers, at the port. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Port of Vancouver moves to develop LNG bunkering facilitysplash247.comVancouver Fraser Port Authority and local natural gas producer FortisBC are currently studying options to develop a LNG marine bunkering terminal at the port to cater the growing demand for cleaner marine fuels in the coming years. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
US retail supply chains may not cope with a bumper holiday seasontheloadstar.comRetailers are looking forward to a strong peak shopping season, but their supply chain capabilities can’t cope with the changing landscape, according to a new study. Read more here.