Newsletter – August 20, 2019

AIR FREIGHT UPDATES

Cathay CEO Hogg Resigns as Airline Limits Brand Damage

news.airwise.com

Cathay Pacific’s chief executive and chief commercial officer have resigned as the Hong Kong airline attempts to extricate itself from the controversy over its attitude to staff taking part in city-wide democracy protests. Read more here.

Korean Air Cargo expands in America but cuts domestic services

aircargonews.net

Korean Air Cargo today announced that it would expand its services in the Americas with an additional weekly frequency, but reports suggest it will axe some domestic services. Read more here.

OCEAN FREIGHT UPDATES

Port Report: Sourcing shifts for U.S. imports boosting Southeast ports

freightwaves.com

The trade war with China is forcing U.S. shippers to look for new sources of low-cost consumer goods. Southeast seaports are benefitting from those switches as shippers opt for lower cost and more accessible gateways. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Vancouver’s record mid-year report can’t hide trade turbulence

freightwaves.com

The Port of Vancouver handled a record amount of cargo in volumes and containers during the first half of 2019 as Canada’s largest maritime trade hub showed resilience but not immunity to economic headwinds. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

74% of economists in survey see US recession by end of 2021

canadianshipper.com

Washington, DC — A strong majority, 74%, of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021. Read more here.