Newsletter – August 3, 2023

AIR FREIGHT UPDATES

MSC acquires majority stake in AlisCargo Airlines

aircargonews.net
Mediterranean Shipping Company (MSC) has acquired a majority stake in Milan-based airfreight carrier AlisCargo Airlines.
The acquisition follows MSC’s confirmation last month that it was in talks with the cargo airline, as it continues to develop its air cargo operations. Read more here.

Polar Air Cargo renews GSA contract with Network Cargo in Canada

aircargoweek.com
Polar Air Cargo and Network Cargo are pleased to announce that they have extended their GSA contract agreement for a further three years, from July 1 2023.
Network Cargo, the General Sales and Services Agent branch of the Network Aviation Group in North America, have been reappointed by Polar Air Cargo (PO) as their GSA across all of Canada. Read more here.

OCEAN FREIGHT UPDATES

Port of Vancouver Operations Update – August 2

ciffa.com
The International Longshore and Warehouse Union (ILWU) Canada yesterday conducted an information session with its membership to recommend the terms of settlement of the tentative agreement reached with the British Columbia Maritime Employers Association (BCMEA). Regular operations at the port resumed after the information session.
Voting by ILWU membership will occur on Thursday, August 3 and Friday, August 4. Regular operations will continue while voting takes place. Both parties are recommending ratification of the tentative agreement to their members.

Rising demand and slow steaming a win-win for container lessors

theloadstar.com
Container leasing companies reported a slowdown in the return of boxes by ocean carrier customers in the second quarter, and say they are optimistic of a recovery in demand for equipment in the second half of the year.
Furthermore, the lessors stand to benefit from the 1.2m teu of newbuild tonnage stemmed for delivery before the end of the year, necessitating super-slow steaming, longer turnarounds for containers and a consequential requirement for upgrades in carrier equipment fleets. Read more here (login required).

Ocean carriers warn FMC against regulating prices

freightwaves.com
WASHINGTON — Revisions made to a proposed rule aimed at curbing the ability of container ship carriers to refuse to provide vessel space to their customers has delved into the dangerous area of price regulation, according to the carriers.
In a rulemaking proposed last year, the U.S. Federal Maritime Commission attempted to define what is an “unreasonable refusal to deal or negotiate” the vessel space that carriers provide for their customers’ containers. Read more here.

Record containership deliveries dash rate recovery hopes

seatrade-maritime.com
According to analysis by ocean and air freight data specialist, Xeneta, no fewer than 40 ships joined the fleet over the month. In its most recent market report, the Oslo-based firm said that a total of 990,000 teu of capacity was delivered over the first half, with a similar volume expected between now and the end of the year. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Congestion shaken off, but US intermodal still in the doldrums

theloadstar.com
US railways and ports have shaken off the congestion that had weighed heavily on their operations, but this has not lifted their intermodal fortunes.
The second quarter showed a further decline, resulting in an almost 10% drop in intermodal unit count for the first half of the year. Read more here (login required).