Newsletter – September 14, 2020
AIR FREIGHT UPDATES
Airfreight Market Roundup: China dips while SE Asia stays strong
China gave the airfreight market a headfake last week. It gave the impression capacity was tightening to the point that rates would seek higher ground for the rest of the year in response to peak season shipping.
Instead demand tailed off as Apple slightly delayed the launch of its iPhone 12, with capacity slightly exceeding actual volumes. It was a similar story in many markets, according to WorldACD, with yields inching down or staying flat. Read more here.
OCEAN FREIGHT UPDATES
Chinese authorities move to regulate transpacific pricingsplash247.comChinese transport authorities have intervened to regulate the record container freight rate surge seen on the transpacific.According to market sources, the Ministry of Transport held a meeting with senior officials from major containerlines last week, demanding to normalise pricing and deploy more capacity to North America. Read more here.
Carriers impose restrictions as container shortages in Asian ports get worsetheloadstar.comAll the major carriers are experiencing equipment shortages at Asian ports with popular 40ft high cubes in particular short supply at Chinese depots.Anecdotal reports to The Loadstar suggest CMA CGM currently has a shortage of equipment at all of the main Chinese ports, while other carriers are advising of shortages at some docks and “near normal” availability at others. Read more here.
Port restrictions set as Tropical Storm Sally eyes Gulf Coastfreightwaves.comThere’s no rest for the weary as the 2020 Atlantic hurricane season shows no signs of abating anytime soon.Tropical Storm Sally — the eighteenth named storm of the season — could soon become the sixth hurricane of the season, just prior to landfall in the U.S. central Gulf Coast. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
COVID, Safety, And Warehousing: Social Distancing And Contact Tracing Solutionsforbes.comThe COVID playbook for promoting safety in industrial settings is well known by this point in the pandemic. Take employees’ temperature before they enter the facility. Make sure workers are six feet apart while waiting to have their temperature taken. Stations where one employee need to interact with other employees should be protected with plexiglass. Read more here.