Newsletter – April 11, 2024

AIR FREIGHT UPDATES

New York Flights May Continue To Be Reduced Due To Air Traffic Control Shortage
simpleflying.com
With the busy New York City area grappling with an air traffic controller shortage, airlines are not confident they can sustain smooth operations if the minimum flight requirement cuts are lifted later this year. As such, they are demanding an extension of this policy for another year until the ATC staff shortages are addressed.
Airlines in the United States would like to extend the cuts to minimum flight requirements in the busy airports serving the New York City area. Read more here.

OCEAN FREIGHT UPDATES

Update: Port of Montreal Labour Negotiations
ciffa.com
The Maritime Employers Association (MEA) and CUPE Local 375 – Montreal Longshoremen will be meeting on April 16 and 17 for discussions mediated by the Federal Mediation and Conciliation Service.
The MEA notes that there has been no strike vote and the union has not planned a meeting to set that in motion. For any pressure tactics to be applied, a vote and 72 hours’ notice is necessary.

Other east coast ports can cope with Baltimore cargo – ‘in the short term’
theloadstar.com
The port of New York and New Jersey (NY/NJ) is emerging as the main alternative for shippers that traditionally route their cargo through Baltimore.
Following the collapse of the Francis Scott Key Bridge on 26 March at the entrance to Baltimore Port, the US east coast’s fifth largest gateway was cut off, leaving shippers and carriers hunting for alternatives. Read more here (login required).

CANADA BUSINESS – GOVERNMENT UPDATES

Bank of Canada says June interest rate cut ‘within the realm of possibilities’
financialpost.com
The Bank of Canada left the key overnight interest rate at five per cent Wednesday, but governor Tiff Macklem said a June cut was “within the realm of possibilities.”
At a news conference after the decision, Macklem said central bankers are confident in the inflation progress they’re seeing and have seen since January, including inflation expectations and corporate pricing activities — but they need to see it for longer to make sure it is sustained rather than a blip. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Taiwan exports ‘on fire’ as global demand for AI servers surges
ajot.com
Taiwan’s exports surged at the fastest pace in two years as shipments of computer hardware underpinning the global artificial-intelligence boom rocketed more than 400%.
Exports of computers and related hardware, which includes servers, hard drives and keyboards, jumped 464.7% to $8.7 billion in March compared to the same month last year, the Finance Ministry said in a statement Wednesday. Read more here.