Newsletter – April 17, 2023

AIR FREIGHT UPDATES

Seized Russian An-124 Stuck In Canada Could Be Given To Ukraine

simpleflying.com
As the war in Ukraine continues into its second year, countries are stepping up support for the country. In a statement, Ukrainian Prime Minister Denys Shmyhal said that Canada has agreed to transfer a seized Antonov An-124 belonging to Russian cargo firm Volga-Dnepr, which has been racking up thousands in parking fees since February in Toronto. Read more here.

May 1st Holiday Is Driving A Surge In Chinese Flight Bookings

simpleflying.com
It is now half a month until the upcoming five consecutive days of public holiday starting from April 29th in China. This public holiday will be the first long vacation for the Chinese to travel after completely relaxing the COVID-19 restrictions at the beginning of 2023. Read more here.

OCEAN FREIGHT UPDATES

Major carriers still on the hunt for tonnage to boost market share

theloadstar.com
Led by MSC and CMA CGM, ocean carriers are again scouring the charter and sales and purchase markets for tonnage to boost capacity and increase their market share.
With demand prospects improving, especially for the second half of the year, and freight indices showing weekly gains, some carriers are using the huge cash reserves accumulated over the past two years to bolster their networks and gain a commercial advantage over more conservative lines. Read more here.

US west coast port labour disputes now just ‘minor inconveniences’

theloadstar.com
As operations at US west coast ports Los Angeles and Long Beach normalise after the effects of the pandemic and other economic shocks, the importance of labour issues has diminished.
Port volumes at the San Pedro Bay complex were 36% of the US total on 11 April, according to data from FourKites, down from the 42% during the second half of last year, and have been below 40% for four of the past six months. Read more here (login required)

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Where are the warehouses? Construction starts drop dramatically

insidelogistics.ca
The recent economic downturn has hit the warehouse construction sector hard.
Research by Interact Analysis suggests that fulfillment centre construction has suffered in particular, partly driven by Amazon’s decreased spend on micro-fulfillment. Read more here.