Newsletter – February 24, 2021

AIR FREIGHT UPDATES

CMA CGM air cargo service to launch with Chicago flights

aircargonews.net
Shipping line group CMA CGM’s entry into the air cargo market will begin on March 8 with flights between Liege and Chicago.
Flights will be offered by the company’s airfreight division, CMA CGM Air Cargo, and will be operated by Air Belgium using an A330-200F. Read more here.

Scrapping Mexico City’s New Airport Is Costing Over $16 Billion

simpleflying.com
This amount was 232% more than what was previously predicted, according to the audit. However, it went crashing into controversy with Mexico’s president, Andres Manuel Lopez Obrador, who claimed to have different data. One day later, the ASF admitted some methodological deficiencies in the investigation; therefore, the overall cost may be lower. Read more here.

Australia lifts ban on cargo flights from Bangladesh after security revamp  

theloadstar.com
Satisfied with the improvement of security standards, Australia has lifted its five-year ban on direct cargo flights from Bangladesh.
It’s a long-awaited measure applauded by top exporters, after the country, with several others including the UK and EU, imposed the ban in December 2015, citing inadequate security at Bangladeshi airports. Read more here.

OCEAN FREIGHT UPDATES

US ocean freight import growth set to continue throughout 2021

lloydsloadinglist.com
Exceptionally low US retail inventories seem set to fuel strong container import demand for all of 2021 as long as retail sales are sustained at relatively normal levels this year, according to analysis by container shipping specialist Sea-Intelligence. Read more here.

No rate relief in sight for ocean shippers as Lunar New Year passes

supplychaindive.com
Dive Brief:
There is no relief in sight for ocean shippers looking for a downturn in rates on the Transpacific route, as spot prices have risen another 7% in the last week between China/East Asia and the North American West Coast, according to figures from Freightos. Read more here.

Shipping lines start to give Myanmar a miss as protests impact supply chains

theloadstar.com
Shipping lines have begun suspending cargo bookings into Myanmar.
A nationwide general strike took place yesterday, with hundreds of thousands on the streets protesting against the military power-grab on 1 February.
“The situation is becoming more and more tense,” according to Hapag-Lloyd. Read more here.