Newsletter – December 3, 2021

AIR FREIGHT UPDATES

IATA warns knee-jerk Omicron reaction could hit cargo capacity

aircargonews.net
IATA has warned that cargo capacity could come under pressure if governments adopt a knee-jerk reaction to the Omicron variant.
The airline association said that in October cargo tonne kms increased by 9.4% compared with 2019 levels, but added that capacity could be affected by any government restrictions on travel in response to the new variant. Read more here.

Air cargo demand wanes as congestion puts the sector under pressure

aircargonews.net
Congestion on the ground is driving up air cargo rates and clogging up air cargo supply chains.
Figures from analyst CLIVE Data Services show that demand decreased in November by 1.2% compared with October, reversing the usual trend of demand rising as the year draws to a close.
Mirroring this decline, dynamic load factors, which take account of both weight and volume, dropped by two percentage points on October to 66%. Read more here..

Ground handling inefficiency ’causes air cargo congestion and slows growth’

theloadstar.com
Ground handling congestion dragged down airfreight growth last month, highlighting the industry’s “lack of investment” in cargo infrastructure.
According to Clive Data Services, November volumes declined 1.2% month over month, reversing the trend traditionally seen in the peak season build-up to Christmas. Read more here (login required).

OCEAN FREIGHT UPDATES

Storm-hit Zim Kingston set for move to port for discharge of cargo

theloadstar.com
Danaos-owned Zim-chartered vessel Zim Kingston, which lost 109 containers amid a cargo fire off the coast of Vancouver in October, is set to leave its mooring on Constance Bank, near Vancouver Island, tomorrow.
It will be heading for the port of Nanaimo, on Vancouver Island’s east shore, where discharge of the undamaged cargo will reportedly take place. But neither Zim or Danaos responded to questions from The Loadstar regarding its onward delivery. Read more here.

Panama Canal announces greenhouse gas emissions fee

splash247.com
Speaking this week at the AAPA Latino conference in Colombia, Panama Canal Administrator Ricaurte Vásquez Morales announced the authority’s plan to implement a green vessel classification system that will include a new greenhouse gas (GHG) emissions fee. Financial penalties for shipowners will increase based on the volume of emissions. The fee is intended to help make the canal’s operations carbon-neutral. Read more here.

GROUND AND RAIL FREIGHT UPDATES

BC slowly opens roads, transport disruptions continue

insidelogistics.ca
The B.C. government announced the reopening of Highway 1 between Abbotsford and Hope on December 2, signalling a gradual improvement in travel conditions in the province after almost two weeks of flooding and landslides disrupted road and rail connections throughout the Lower Mainland. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Canada to see continued record low vacancy in industrial space

insidelogistics.ca
Canadian markets are expected to have the lowest combined rate of vacancy for industrial property – at 1.5 percent – in North America by year end.
Cushman & Wakefield released its North American Industrial Forecast for 2022/23 showing a projected 855 million square feet (msf) of absorption and new supply of industrial properties at 932 msf. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

NFTs are coming to a supply chain near you

freightwaves.com
In just about any other world, spending nearly $70 million on a JPEG would be seen as absurd. It’s a little bit crazy even in our world. But such is the reality of NFTs, digitized images that are being bought and sold for tens of millions of dollars every day. Read more here (login required).