NEWSLETTER DECEMBER 13, 2022

AIR FREIGHT UPDATES

Air Canada Congratulates Jason Berry on Being Named Cargo Executive of The Year by Air Cargo World

media.aircanada.com
MONTREAL, Dec. 12, 2022 /CNW Telbec/ – Air Canada today congratulated Jason Berry, Vice President, Cargo, on being named Executive of the Year by Air Cargo World, one of the longest-standing publications focused on the transportation and logistics industries.
“This award is a very well-deserved recognition for Jason, which I know he shares with his team. Since joining Air Canada to lead our cargo division, he has demonstrated his ability to build and lead a strong team that is well positioned to drive our cargo business forward. Read more here.

OCEAN FREIGHT UPDATES

Spot and long-term container rate gulf continues to widen
Photo: Marcus Hand

seatrade-maritime.com
The Asia – Europe trade continued to lead the downwards trajectory with Drewry reporting that Shanghai to Rotterdam spot rates lost another 14% this week to sit at just $1,686 per feu on Thursday.
Drewry’s World Container Index (WCI) dropped a further 6% to sit at $2,139 per feu and is now 79% below the peak of $10,377 reached in September 2021. Read more here.

MSC and Ports America come onboard $1.8bn Port of New Orleans box terminal project

splash247.com
Terminal Investment Limited (TiL), the ports unit of the world’s largest container carrier Mediterranean Shipping Co (MSC) and port operator Ports America have joined the Port of New Orleans (Port NOLA) and the State of Louisiana to build a $1.8bn container terminal on the Lower Mississippi River.
The new Louisiana International Terminal (LIT) project in St. Bernard Parish will see $800m invested by New Jersey-based Ports America and TIL, in addition to “substantial commitment” from Port NOLA, as well as state and federal funds. Read more here.

Container market collapse sees first ships heading for scrap

splash247.com
The container market collapse is in full view with ships heading for scrap and other vessels taking the long way back to Asia via the Cape of Good Hope to soak up capacity.
Both Clarksons and Braemar are reporting that several smaller containerships have been circulated in the recycling market this week. Read more here.

Plunge in US imports accelerates; volumes near pre-COVID levels

freightwaves.com
The situation remains far from normal at some U.S. ports. There were still 18 container ships at anchor waiting for a berth in Savannah, Georgia, on Monday. But for the country overall, plummeting inbound cargo volumes are bringing imports close to where they were before the pandemic-induced spending splurge.
Descartes reported Monday that 1,954,179 twenty-foot equivalent units of containerized cargo were imported in November. That’s down 12% month on month (m/m) and 19.4% year on year (y/y). It’s only 2.8% higher than imports in November 2019, pre-COVID, and down 37% from the May peak. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Cold weather is zapping electric truck range

ccjdigital.com
If you told a fleet manager that their trucks are going to lose 20% of its fuel just sitting in cold weather, they’d probably saw you cleanly in half with a laser beam stare.
If you told a driver that they would need to forego using the cabin heater inside their freezing electric truck and instead warm up with a heated steering wheel and seat, they may start looking for another job. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

‘It is your new normal’: Canada’s aging work force root of national labour shortage

bnnbloomberg.com
When Dan Gallagher looks around his company, he sees a lot of retirement parties in his future.
While it’s not something he formally tracks, the CEO of Mikisew Group — a Fort McMurray, Alta.-based company that specializes in oilsands site services, maintenance, logistics and construction — knows he’s got more employees approaching the end of their careers than just starting out. Read more here.