Newsletter – February 23, 2023

AIR FREIGHT UPDATES

Forwarders say US government financial support is a must for air cargo

theloadstar.com

Two US industry bodies representing mostly forwarders involved in air cargo want government to give financial support to developments to ensure a smoother flow of traffic through airports.

They say the challenges for the industry are too enormous to be shouldered squarely by private enterprise and they have produced a white paper based on broad surveys and submitted it to Congress. Read more here (login required).

OCEAN FREIGHT UPDATES

ZIM makes inroads in Vietnam

splash247.com

Israeli carrier ZIM Integrated Shipping Services Ltd. and Haiphong-based Hai An Transport and Stevedoring Joint-stock Company (HATS), announced today the launch of Lotus Link, a joint venture to operate domestic shipping services in Vietnam.

The joint venture will serve the major ports in Vietnam, Ho Chi Minh, Danang and Haiphong as well as satellite provinces and its hinterlands. Read more here.

Good news for US west coast ports as labour deal edges closer

theloadstar.com

Negotiations between US west coast terminal operators and dockers have reached agreement on some issues, it was reported today, with the talks continuing.

The International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) began negotiations to renew their labour contract in May last year, but talks stalled after a dispute in Seattle. Read more here (login required).

Containership lay-ups continue to spike as demand slump rolls on

theloadstar.com

Ocean carriers have laid up nearly 50 containerships during the past month alone, as carryings and rates have continued to fall across their networks.

According to the latest survey by Alphaliner, taken on 13 February, 366 vessels were idle, including those owned by lessors and non-operators, for a capacity of 1.6m teu, representing 6.2% of the global cellular fleet. Read more here (login required).

CANADA BUSINESS – GOVERNMENT UPDATES

Port of Montreal to invest $335m in port infrastructure

splash247.com

The Port of Montreal has earmarked more than C$335m in its new five-year investment plan for its infrastructure on the Island of Montreal. This investment is planned to achieve four main objectives.

The port is looking to sustainably develop and maintain port infrastructure to accommodate trade growth; strengthen, optimise and streamline the Greater Montreal supply chain; accelerate the decarbonisation of port activities and the energy transition; and improve the city-port interface. Read more here.