Newsletter – December 12, 2023

AIR FREIGHT UPDATES

Thanksgiving air cargo tonnage decline less severe than last year
aircargoweek.com
Worldwide air cargo demand patterns have continued to broadly follow last year’s seasonal trend into the final full week of November, including a significant dip in outbound tonnages from North America linked to last week’s Thanksgiving celebrations in the USA, according to the latest weekly figures from WorldACD Market Data. But overall global tonnages have held up better than this time last year, and outbound yields from Asia Pacific have continued to rise, week on week (WoW), whereas they were flat or declining in the equivalent period in 2022. Read more here.

Emerging trends in air cargo
aircargonews.net
While e-commerce is still a relatively new phenomenon, it’s now not only a major factor in the market but is set to be the biggest driver of growth in 2024 and beyond. This comes in what will likely be an otherwise flat year for growth across the supply chain industry.
Boosted by the pandemic, online shopping has become a new normal for consumers, who now expect their orders to arrive within 24 hours. Read more here.

MSC Air Cargo adds its third 777 freighter
aircargonews.net
Atlas Air has taken delivery of the latest Boeing 777 freighter that it will operate on behalf of MSC Air Cargo.
The new aircraft will be operated for MSC under a previously announced ACMI deal and is the third of a four-aircraft partnership. Read more here.

DP World delves into air cargo
aircargonews.net
DP World is easing into the air cargo industry with the launch of a new air cargo logistics hub in Punta Cana, Dominican Republic.
Morten Johansen, chief operating officer of DP World Americas says the air cargo hub at Punta Cana Airport can be used for both belly cargo and freighter shipments. Read more here.

OCEAN FREIGHT UPDATES

Vancouver Fraser Port Authority Board of Directors Announces Peter Xotta as President and CEO
portvancouver.com
The Vancouver Fraser Port Authority’s board of directors has appointed Peter Xotta as president and chief executive officer, effective Monday, December 4. This appointment follows a comprehensive and competitive global executive search process facilitated by Korn Ferry.  Read more in a press release from the Port of Vancouver.

Demand prospects for new year see box carriers back in charter market
theloadstar.com
Better than expected forward demand prospects across major and secondary tradelanes is encouraging ocean carriers back into the charter market to snap up any open tonnage.
However, according to Maersk Broker, most of the larger vessels remain ‘sold out’, with tonnage only becoming available from next spring, thereby underpinning daily hire rates. Read more here (login required).

Failure of GRIs means a tough time for carriers in new-contract talks
theloadstar.com
Notwithstanding three attempts at GRIs (general rate increases) in 45 days, Asia-North Europe container spot rates have so far remained stubbornly low, which will make new contract negotiations onerous for carriers.
Despite huge FAK (freight all kinds) increases proposed by carriers for 1 November, 1 December and 15 December, Xeneta’s XSI Asia-North Europe component edged up just 1% this week, for an average of $1,244 per 40ft, and remains 50% below the level for the same week of last year. Read more here (login required).

Carriers pushing rate hikes ahead of new year service suspensions
theloadstar.com
Asia-Europe ocean carriers are making one final attempt to hike rates on the troubled tradelane next year.
Hapag-Lloyd yesterday joined CMA CGM in raising its FAK (freight all kinds) Asia-North Europe 40ft rate to $3,000 from 1 January. Read more here (login required)

GROUND FREIGHT UPDATES

German rail strike another headache for supply chain managers
theloadstar.com
A sudden 24-hour strike on Germany’s railways has brought further headaches for Europe’s supply chain managers already contending with industrial disruption on Flemish waterways.
Germany’s GDL union announced on Wednesday the strike would run until 10pm today – affecting both freight and passenger services; its latest action in an ongoing dispute with state operator Deutsche Bahn (DB). Read more here.