Newsletter – September 16, 2020
AIR FREIGHT UPDATES
IATA confirms the departure of Glyn Hughes as head of cargoaircargonews.netIATA has confirmed that head of cargo Glyn Hughes will leave the organsiation as part of a wider restructuring.Hughes will leave the position, which he has occupied for the last six years, through voluntary redundancy at the start of 2021. Read more here.
These Airlines Made A Profit In 2020–And Here’s Howforbes.comSince Covid-19 closed borders and restricted travel, the tourist industry has taken a tumble, with airlines some of the biggest losers. However, there are some carriers who have managed to make money, or at least cover costs, in 2020.For the airlines who have done well, the main reason—according to Simple Flying—is because they’ve managed to diversify. Read more here.
OCEAN FREIGHT UPDATES
Container availability drops across Asia prior to shipping peaktheloadstar.comNew blog from container tracking and exchange platform ContainerXchange, with some data to illuminate recent reports of growing equipment shortages in Asia. The firm’s Container Availability Index suggests stocks of 20ft boxes has reached critical lows in Port Klang and Shanghai, although there is some good news in that supplies of 40ft and 40ft high-cube boxes are expected to increase in coming weeks in the Chinese gateway, at least. Read more here.
China’s container traffic grows in early September as export orders recover from coronavirus supply chain shockscmp.comThe slump in China’s worldwide trade showed further signs of recovery in the first two weeks of September as activity at major ports grew despite weaker global demand and the pressure of the relocation of supply chains, according to data from the China Ports & Harbours Association. Read more here.
With the charter market still booming, carriers chase ‘any box ship still floating’theloadstar.comOcean carriers flush with cash after an estimated cumulative $1.8bn Q2 net profit and with even better results predicted for Q3, are targeting the S&P market for quality second-hand tonnage. Read more here.
DP World in historic bid to run a port in Israelsplash247.comThe remarkable thawing of ties between some Middle Eastern nations and Israel has led to an unexpected port development with a Dubai terminal operator closing in on a deal to buy into the port of Haifa. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Capacity crunch gives shippers a headache as US-Mexico trucking rates soartheloadstar.comUS-Mexico trucking is no smoother since USMCA, the revised trade agreement between the US and its neighbours that replaced the NAFTA framework on 1 July, was roundly welcomed by trade groups.It has not eased capacity problems on the US-Mexico border and trucking rates continue to go up as a rising tide of cargo is struggling to move. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
U.S. hit pause on 10 per cent tariff but could re-impose the levy after the November presidential electioncbc.caThe United States hit the pause button on tariffs on Canadian aluminum today, agreeing to withdraw current penalties — at least until after the presidential election in November.The move came right as Canada was set to impose a wide range of retaliatory measures that would have hit some politically inconvenient targets for President Donald Trump as he seeks re-election. Read more here.