Newsletter – December 4, 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.

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).

GROUND AND RAIL FREIGHT UPDATES

Study: Congestion cost truckers nearly $100 billion in ’21
dcvelocity.com
If you’ve been thinking highways are more crowded these days, you’re right. After dropping during the pandemic years, traffic congestion has returned with a vengeance, creating snarls and delays throughout the country.
And those delays are costing the trucking industry a bundle. According to the American Transportation Research Institute (ATRI), the nonprofit research arm of the American Trucking Associations (ATA), traffic congestion on U.S. highways added $94.6 billion in costs to the trucking industry in 2021. That represents the highest level in six years, according to the institute’s latest “Cost of Congestion” study. Read more here.

INTRENATIONAL BUSINESS-GOVERNMENT UPDATES

Heavy rains lash India’s coasts as they brace for a powerful storm
abcnews.go.com
NEW DELHI — Heavy rains and strong winds pelted India’s southern and eastern coastlines on Monday and states were put on high alert after a deep depression over the Bay of Bengal intensified into a powerful storm, authorities said. Read more here.