Newsletter – August 19, 2020

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    Aug

    Newsletter – August 19, 2020
    AIR FREIGHT UPDATES
    World Food Program says COVID air network could fold soon
    freightwaves.com
    The World Food Program (WFP) says its air logistics support for humanitarian groups fighting the COVID-19 pandemic is running out of money.
    The United Nations organization has managed more than 800 aid flights to 161 countries since May, when it established eight humanitarian response hubs and air links among them dedicated to pandemic response. Cargo volumes dispatched have been rising each month and total 44,654 cubic meters, according to an Aug. 11 situation report. Read more here.
    US Paves The Way For Chinese Carriers To Double Flights
    simpleflying.com
    On Tuesday, the US Department of Transportation (DOT) said that it would allow the four Chinese carriers currently operating flights to the United States to double flights from four to eight weekly. This is a far cry from the 100 weekly flights the bilateral aviation agreement between the two allows for. Still, it’s a step in the right direction. Read more here.
    OCEAN FREIGHT UPDATES
    ‘Strong cost performance’ helps steer Maersk to another profitable quarter
    theloadstar.com
    Maersk says it learned a lesson from the financial crash and will not resort to a market-share grab to fill its ships during the pandemic downturn.
    The company reported a net profit of $443m for the second quarter, which compares with a profit $154m for the same period of 2019. Read more here.
    Cosco orders chemical tanker at Chongqing Chuandong Shipyard
    splash247.com
    China Shipping Chemical Carrier, a unit of Cosco Shipping Group, has entered into a letter of intent with Chongqing Chuandong Shipyard for the construction of an 8,000 dwt chemical tanker. The order follows Cosco ordering two 13,800 dwt chemcial tankers at the yard in February this year. The vessel will adopt a series of smart ship features and delivery is scheduled in 2022. It is expected to be deployed for domestic coastal services. Read more here.
    Container shipping service levels dropping as costs and rates rise
    theloadstar.com
    Container shipping costs and service levels are at risk of spiralling out of control, according to Drewry. As well as a massive withdrawal of capacity since the start of the Covid-19 crisis – 468 blanked departures on east-west trades – the analyst said schedule reliability had been “extremely low”. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    E-commerce pushing 3PL growth in 2020
    insidelogistics.ca
    MILWAUKEE, Wisconsin –E-commerce is dominating as the fastest growing segment for third part logistics providers.
    U.S. 3PL e-commerce revenues reached US$43.4 billion in 2019 and are expected to see a 28 percent compound annual growth rate (CAGR) through 2020 as e-commerce purchases continue during the pandemic and companies continue to outsource versus build internal fulfillment operations. Read more here.

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