Newsletter – February 8, 2021

AIR FREIGHT UPDATES

Global airfreight rates cool but remain well above historical peaks

lloydsloadinglist.com
Global airfreight rates cooled sequentially over the course of January – especially on North America-bound Transpacific routes – as a protracted and robust peak season wound to a close, according to the Baltic Air Freight Index (BAI) but on a multi-year stack, remain well above historical peaks. Read more here.

OCEAN FREIGHT UPDATES

As digitisation improves visibility, LCL is becoming more attractive to shippers

theloadstar.com
The shortage of containers in major tradelanes is driving demand for less-than-containerload (LCL) solutions.
With boxes only available at exorbitant rates, more shippers and forwarders are more open to less-straightforward alternatives to full container offerings. Read more here.

Call for Vietnam to make its own boxes as it probes shipping rate hikes

theloadstar.com
As key agricultural industries feel the effect of the spike in freight rates and lack of empty containers, Vietnam is the latest country to question the prices charged by shipping lines.

According to local media, the Vietnam Maritime Administration (VMA) has set up a working group to “remove difficulties for export activities and ensure transparency in the listing of freight prices”. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Trucking contract rates up 12% year-over-year

freightwaves.com
Shippers spent 12% more per mile for dry van truckloads on average through most of the fourth quarter of 2020 than they did in 2019. That is according to FreightWaves’ newest dataset that measures trends in long-term rates (not spot rates) between shippers and van carriers, Van Contract Base Rate Rate per Mile (VCRPMF). Read more here.

INTERNATIONAL BUSINESS- GOVERNMENT UPDATES

COVID broke Peloton’s supply chain – can $100M fix it?

freightwaves.com
For some companies, the COVID-19 pandemic has proven a bonanza for sales and revenue. That was true for Peloton (NASDAQ: PTON), which on Thursday announced a 128% quarter-over-quarter sales growth for its fiscal Q2 2020 and earnings per share of 18 cents versus an expected 9 cents. Revenue surpassed $1 billion, reaching $1.06 billion versus $466.3 million a year before. Read more here.