Newsletter: April 7, 2022

AIR FREIGHT UPDATES

Hong Kong banning flights at fastest rate since January

ajot.com
Less than a week after Hong Kong rolled back some of the world’s strictest inbound travel curbs, at least six airlines have had routes banned, creating havoc for travelers and further undermining the city’s role as a financial hub.
Singapore Airlines Ltd., Emirates, Cathay Pacific Airways Ltd., Qatar Airways QCSC, Korean Air Lines Co. and Malaysia Airlines were slapped with week-long bans this month after breaching Hong Kong’s so-called circuit-breaker mechanism. Read more here. 

IATA: Air cargo up in February but uncertainty looms

aircargonews.net
Global air cargo demand was up 2.9% in February compared to February 2021 although capacity is still constrained, according to the latest International Air Transport Association (IATA) data.
Cargo is tracking above pre-COVID-19 levels said the trade association. Demand, measured in cargo tonne-kilometers (CTKs) rose 2.5% for international operations year on year. Read more here.  

OCEAN FREIGHT UPDATES

Shanghai port still working despite lockdown, but lines are eyeing diversions

theloadstar.com
Ningbo-Zhoushan Port Group said yesterday there was no noticeable arrival of containerships diverted from Shanghai so far, despite that city and its port being in the second week of indefinite lockdown.
A spokesperson said: “We’re doing a good job of epidemic prevention and control to ensure continuous and stable operations. We don’t see that many ships previously berthed at Shanghai being moved to Ningbo-Zhoushan Port.” Read more here (login required).

East Coast container ship queue overshadows West Coast logjam

ajot.com
Ocean carriers looking to avoid logjams at the U.S.’s busiest container gateways on the West Coast are now facing even longer queues out east.
As of Wednesday, there were ships with more container capacity stuck outside U.S. East Coast ports than off the busiest sea-cargo gateways in the west, data compiled by maritime-analytics firm MarineTraffic showed. Read more here.  

GROUND AND RAIL FREIGHT UPDATES

Colombo transhipment woes push Maersk to launch rail alternative

thelaodstar.com
The flow of Indian transhipment cargo over Colombo Port in Sri Lanka is facing heightened disruption as the island nation grapples with its worst-ever economic quagmire.
And this comes on top of Covid-induced woes that have already sent supply chains into a tailspin. Read more here (login required).

PSA acquires 2nd Port of Halifax container terminal

freightwaves.com
With its acquisition of Ceres Halifax, PSA International will operate two container terminals in Nova Scotia, Canada.
PSA announced late last week that it had acquired the Fairview Cove terminal at the Port of Halifax from Nippon Yusen Kabushiki Kaisha. It already owned the Atlantic Hub terminal, which it acquired in 2019, and will operate both facilities as PSA Halifax. Read more here. 

CANADA BUSINESS – GOVERNMENT UPDATES

Canada approves controversial Bay du Nord offshore oil and gas project

splash247.com
Canada’s Minister of the Environment Steven Guilbeault has approved Equinor’s Bay du Nord oil project offshore Newfoundland and Labrador, despite significant pushback from environmental and citizens’ groups across Canada and around the world. The project calls for drilling to be done at the Flemish Pass, about 500 kilometres east of St. John’s, in waters about a kilometer deep. Read more here.