Newsletter – March 1, 2024

AIR FREIGHT UPDATES

Strong start to 2024 for Asia Pacific carriers
aircargonews.net
Asia Pacific airlines had a good start to the year for both cargo and passengers, said the Association of Asia Pacific Airlines (AAPA) in releasing its preliminary January 2024 traffic figures.
AAPA reported healthy growth in international freight, underpinned by strong demand ahead of the Lunar New Year festive season. Read more here.

OCEAN FREIGHT UPDATES

Employers ink deal with Montreal port checkers while primary talks languish
joc.com
The union representing workers who monitor the cargo being loaded and unloaded at the Port of Montreal has signed a new contract with maritime employers — one that took just two days to negotiate. Both sides, however, say a protracted standoff for a new contract with Montreal’s main longshore union is hurting the port. Read moreh here (login required).

High transpac rates good news for carriers as new contract talks loom
Container spot rates on the transpacific edged down slightly again this week, however they remain significantly higher than a year ago.
It follows that ocean carriers will feel confident of securing respectable annual contract rate increases from their shipper customers as the liner industry assembles for next week’s S&P Global TPM24 conference in Long Beach, California. Read more here (login required).

GROUND FREIGHT UPDATES

CPKC Customer Advisory: 2024 Quebec Thaw Restrictions Update
transports.gouv.qc.ca
The Quebec Ministry of Transport has updated the official dates for the 2024 load restriction period in the province of Quebec. CPKC is implementing its reduced weight requirements as outlined below.
Overweight loads will be returned to the shipper at the payer of freight’s expense. For domestic shipments where CPKC performs the drayage, weights must be reduced and evenly distributed in the unit in order to avoid possible charges and fines associated with the Quebec and New Brunswick spring thaw restrictions. The payer of freight retains responsibility for any such charges.
Visit the Government of Quebec website for a complete guide on spring thaw zones, dates, regulations and restrictions.
Overweight traffic delayed online, but shipped on or before the Last Shipping Date will be delivered by CPKC without the application of overweight charges. Read more here.

Bangkok, Colombo and Dubai see major shift in cargo from sea to air
theloadstar.com
Bangkok’s Suvarnabhumi Airport has seen spikes in modal shift from sea to air this year, as the Red Sea crisis continues to put global supply chains under strain.
A source at the Thai international gateway said airfreight exports had shot up 58% in January, with air imports surging 29% year on year, and that the shift had continued into February. Read more here (login required).

CANADA BUSINESS – GOVERNMENT UPDATES

Bill C-58 Banning Replacement Workers Passes Second Reading
cbc.ca
A Liberal government bill that would ban replacement workers from being used during strikes and lockouts at federally regulated workplaces is moving ahead after the House of Commons unanimously backed it Tuesday.
The legislation passed second reading with the support of the Opposition Conservatives. It was the first time the Tories took any position on the bill.
Labour Minister Seamus O’Regan said: “At the end of the day, we here are convinced that this will lead to greater stability and security for our supply chains, as well as a huge improvement for workers’ rights in this country.” Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

World economy has growing chance of nailing a soft landing, G20 says
financialpost.com
The global economy has a growing chance of pulling off a soft landing, finance chiefs said in a draft of the G20’s closing statement at this week’s meeting in Brazil, citing faster-than-expected disinflation as one of the risks.
“We note that the likelihood of a soft landing in the global economy has increased,” said the draft communique dated Feb. 23, seen by Bloomberg News. “Risks to the global economic outlook are more balanced. Upside risks include faster-than-expected disinflation.” Read more here.