Newsletter – September 22, 2021
AIR FREIGHT UPDATES
Air freight charter prices soar to $1.5m
Prices for one-way air freight charter flights have soared to as much as US$1.5 million, as capacity becomes ever tighter and competition for peak-season space mounts, with warnings that it will be hard to even find a widebody freighter aircraft available for charter between now and the beginning of December. Read more here.
Reverse thrust: Strauss to remain Amerijet CEO after reconciliation
Tim Strauss has rescinded his resignation as CEO of Miami-based cargo airline Amerijet International Airlines, one week after the company announced his surprise departure in what industry sources said was a disagreement over how to implement a new strategic vision. Read more here.
OCEAN FREIGHT UPDATES
Plateau nears for soaring boxship charter rates
The spectacular, vertiginous ascent seen in boxship charter rates over the last year is approaching a plateau, according to leading analysts.
With ships of all shapes and sizes capable of carrying containers in red hot demand charter rates have leapt tenfold since the middle of last year, with desperate operators forking out up to $200,000 a day for ships in the 4,200 teu range. However, there are signs that the market is topping out in line with recent announcements by certain carriers that they are capping rises in spot freight rates. Read more here.
CMA CGM plays down severity of latest cyber attack
CMA CGM officials have sought to play down the severity of the company’s latest data breach with contacts at the Marseille-headquartered firm telling Splash that the type of data is very limited to contact data and there has been no impact to the group’s operations or its websites activities.
Splash reported yesterday that a leak of data on limited customer information – including first and last names, employer, position, email address and phone number – had been detected by CMA CGM. The company’s IT teams immediately developed and installed security patches. Read more here.
Indonesia merges its four port operators
Jakarta is amalgamating its four state-owned terminal operators into one company. Bringing together Pelindo I, II, III and IV will create an entity with an annual throughput of 16.7m teu.
The new entity, to be launched on October 1, will be led by Pelindo II, also known as Indonesia Port Corporation (IPC) and will take the IPC branding. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Bangladesh’s truckers go back to work – for now – as government meets demands
After launching a three-day strike, the owners and workers of trucks and vans in Bangladesh have resumed work after some 33 hours, as the government agreed to meet some of their demands at a meeting on Wednesday.
However, a second strike, set for 27 to 28 September, is expected to go ahead. Read more here (login required).