Newsletter – September 6, 2023

AIR FREIGHT UPDATES

Dramatic rise in air cargo rates as India braces for G20 and e-commerce push

theloadstar.com
After battling weakening demand conditions over the past year, Indian airfreight forwarders are seeing some uptick in volumes and rates – but supply disruption, particularly during the G20 summit, could dim optimism. Read more here (login required).

Delivery Drone Carries 800 Pounds For 1,550 Miles; Coming To the U.S. In 2025

forbes.com
Cargo drones are bulking up. They’re not just for carrying a book or two, a meal, or a few medications for six or 10 miles anymore. The new Black Swan cargo drone carries 800 pounds for a distance of 1,550 miles, and it looks to be on schedule to get to work in the United States at some point in 2025. Read more here.

Where did things go wrong for Western Global Airlines?

aircargonews.net
In 2020 and 2021 Western Global was preparing for a bright future with plans to add new modern freighters on the back of high demand for all-cargo aircraft. By July this year the airline had filed for Chapter 11 bankruptcy protection. So where did things go wrong for the carrier?
In the summer of 2021 freighter operator Western Global Airlines (WGA) was flying high. Read more here.

OCEAN FREIGHT UPDATES

Bleak outlook for box trades as demand weakens prior to Golden Week

theloadstar.com
Export bookings leading up to China’s Golden Week holiday, starting 29 September, are reported to be ‘disappointing’, and the outlook thereafter is especially bleak, obliging carriers to take radical blanking action.
As a consequence of the void sailings from China, Europe and the US, container terminals and North Europe’s feeder and barge operators can expect a very lean time ahead. Read more here (login required).

Carriers forced to idle new ULCVs as soon as they are delivered

theloadstar.com
Newbuild 24,000 teu ultra-large container vessels are now being idled as soon as they are delivered in Asia, as carriers are obliged to blank more sailings due to weakening demand.
According to a research note from Alphaliner today, the 2023-built 24,346 teu MSC Micol was scheduled to begin its maiden voyage from Shanghai on 12 October, joining the 2M’s Asia-North Europe AE55/Griffin loop, but it was cancelled as part of an aggressive blanking programme by alliance partners MSC and Maersk. Read more here (login required).