Newsletter – November 14, 2019
AIR FREIGHT UPDATES
Exclusive: IATA faces legal backlash over ‘dangerous’ CASS irregularitiestheloadstar.comIATA could face a serious backlash from CASS payments system participants – as well as financial supervisory authorities – over allegations of financial irregularities.IATA has been reported to German financial authority Bafin over potentially significant issues in its CASS system. Read more here (login required).
OCEAN FREIGHT UPDATES
Hapag-Lloyd Q3 profits surge on higher freight ratesfreightwaves.comHapag-Lloyd (ETR: HLAG) posted significant third quarter earnings and revenue increases as it managed to nudge up freight rates.The container shipping giant, which operates a fleet of 231 container ships with total transport capacity of 1.7 million twenty-foot equivalent units (TEU), saw revenues climb 6.2% in the third quarter to 3,244 million euros ($3.57 billion). Read more here.
GROUND FREIGHT UPDATES
New Jersey next to debate limits on trucking’s use of owner-operatorsfreightwaves.comNew Jersey is the newest battleground for motor carriers that use owner-operators, as the state Senate takes up legislation aimed at limiting what workers can be considered independent contractors. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Commentary: Fighting food waste by mapping food supply chainsfreightwaves.comThis year, World Food Day fell on October 16. The United Nations’ Food and Agriculture Organization (FAO) released a new report about world hunger, based on data from 2016. In that report, the FAO says it is replacing its previous measures of food waste and food loss with two new indicators, the Food Loss Index, and the Food Waste Index. Read more here.
Amazon bars use of USPS delivery service for some seller-fulfilled goodsfreightwaves.comMerchants who sell their products on Amazon.com Inc.’s website (NASDAQ:AMZN) but manage the fulfillment and delivery of those goods cannot use the U.S. Postal Service’s (USPS) Priority Mail one- to three-day delivery service unless they purchase the postage from Amazon, according to several analysts with merchant clients that are subject to the edict. Read more here.