Newsletter – August 9, 2023

AIR FREIGHT UPDATES

Air freighter conversion rate holding steady, but there is a ‘risk of oversupply’

theloadstar.com
Aircraft passenger-to-freighter (P2F) conversions are continuing at a stable rate, but experts are keeping tabs on a potential oversupply scenario.
The latest freighter value analysis by aviation advisory firm IBA shows conversion rates progressing steadily. The B737-800 leads narrowbody conversions and IBA suggests this could be a record year, perhaps reaching 60 aircraft. Read more here (login required).

WestJet Announces Flights From Vancouver To Mexico

simpleflying.com
WestJet has bolstered its winter schedule with additional flights from Vancouver to Mexico. The carrier has also added a weekly nonstop flight between Vancouver and Ixtapa. Read more here.

OCEAN FREIGHT UPDATES

Flood of mega-newbuilds a real challenge for carrier fleet managers

theloadstar.com
Ocean carriers received another 200,000 teu of newbuild tonnage last month, following a record 300,000 teu delivered in June, exerting pressure on fleet managers to find continuing employment for their existing vessels in the midst of a down cycle.
Moreover, the July arrivals included three 24,000 teu ULCVs, followed by two more 24,000 teu behemoths that have hit the water already this month. Read more here (login required).

Workers at Canadian ports say yes to new deal

aircargonews.net
Workers at the ports of Prince Rupert and Vancouver in Canada have voted to accept a new deal that will put an end to industrial action and the threat of widespread supply chain disruption.
The International Longshore and Warehouse Union (ILWU) Canada released a statement on August 4 that said: “The results of the ratification vote for the tentative agreement show 74.66% in favour of accepting the terms of settlement.” Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

China’s trade plunges more than forecast in blow to recovery

ajot.com
China’s trade plunged in July as slowing global demand clouded the outlook for exports, while domestic pressures weighed on imports in a hit to the economic recovery. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Six ways AI is transforming the trucking industry

ccjdigital.com
There is no shortage of media chatter about the promise and peril of artificial intelligence (AI), and what it means for individuals and businesses the world over. We wanted to distill that down to six areas we’re seeing AI impact the trucking industry: autonomous trucks, safety and compliance, dispatch and routing, fraud detection and prevention, and workflow automations. Read more here.