Newsletter – August 14, 2023

AIR FREIGHT UPDATES

Japanese Airlines Cancel Flights As Typhoon Lan Approaches

simplflying.com
Japan is gearing up to embrace yet another typhoon this week, Typhoon Lan. Airlines in and out of Japan are canceling flights in anticipation. Typhoon Lan is following the path across the center of Japan’s main island and is expected to make landfall over the border of Mie and Wakayama in the early hours of Tuesday, August 15. With the precautions from the Japan Meteorological Agency (JMA), the country is preparing for heavy rain, mudslides, and strong winds. Read more here

Global Airline Cargo Demand Has Dropped 3.4% Compared To Last Year

simpleflying.com
According to the International Air Transport Association (IATA), global air cargo demand has slightly slumped by 3.4%. IATA blames this on the global inflation crisis and slackening manufacturing output.
The International Air Transport Association (IATA), in its June 2023 data release on August 7, showed the smallest year-over-year contraction in demand for air cargo since February 2022. Read more here

Air Canada Cargo revenue drops over 25% in Q2

aircargonews.net
Air Canada’s cargo business saw second-quarter operating revenues drop 27% year over year.
Operating revenues for Air Canada Cargo in the three months ended June 30 were C$227m, down from C$299 in the same period in 2022. Read more here

OCEAN FREIGHT UPDATES

Ship queue grows at both ends of Panama Canal and congestion builds

theloadstar.com
Draught limits on vessels seeking passage through the Panama Canal continue to show an extensive reach throughout the global supply chain.
The team at eeSea is actively tracking a number of key indicators, including day-to-day congestion just outside of the canal, as well as bordering ports, vessel diversions and the offloading of extraneous cargo. Read more here

China overtakes Greece as largest shipowning country

container-news.com
China has climbed to the top of nations rankings as the largest shipowning country in terms of gross tonnage, according to information from UK data provider Clarksons Research.
The fleet of Chinese shipowners has now reached 249.2 million GT, holding a 15.9% market share with a fleet value of US$180 billion. On the other hand, the ships of Greek vessel owners, who fell to the second place, have reached 249 million GT with a 15.8% market share and a value of US$163 billion. Read more here