Newsletter: February 9, 2022

AIR FREIGHT UPDATES

Turkish Cargo moves freighter flights to Istanbul Airport

aircargonews.net
Turkish Cargo has moved its freighter operations over to Istanbul Airport to join its passenger flights after more than two years of operating with a dual-hub setup.
The airport handled its first flight in 2018 and Turkish Airlines moved its passenger operations over from the existing Ataturk Airport in 2019. Freighter flights remained at Ataturk while operations at the airport were established. Read more here.

OCEAN FREIGHT UPDATES

Price of ship fuel surging, poised to eclipse all-time high

freightwaves.com
It should come as no surprise: Just as you’re paying a lot more for gasoline at the pump, ship operators are paying a lot more for marine fuel. In fact, average marine fuel prices are rising even faster than landside fuel prices. They’re now just a few dollars shy of all-time highs, with a new record seemingly imminent.
That’s bad news for shipowners, and to the extent fuel cost is passed on, bad news for cargo shippers, and, ultimately, those who buy imported goods. Read more here.

Container fleet soars above 50m teu in response to supply chain congestion

theloadstar.com
A record 7.2m teu, or 14%, was added to the global container equipment fleet last year, taking it to 50.5m teu, driven by demand from ocean carriers, logistics operators and BCOs trying to protect their supply chains.
According to John Fossey, senior analyst for container equipment at Drewry Shipping Consultants, equipment production will fall to between 4.5m and 4.8m teu this year – but this will still rank as the second-highest annual increase on record. Read more here (login required)

Sri Lanka announces penalty waiver for boxes lying at port yards on forex shortage ground

container-news.com
Amid the severe shortage of foreign exchange in the domestic market, many consignments in Sri Lankan ports remained undelivered for days and months, thus the government of Sri Lanka has decided to provide waivers of the penal charges under special consideration.
Sri Lankan President has directed the ports authority to review the eligibility for waivers of the penal charges, as a special concession to importers, towards cargo landed at Jaya Container Terminal (JCT) and East Container Terminal (ECT) lying pending clearance until January 2022. Read more here. 

GROUND AND RAIL UPDATES

Supply chain issues decimating US truck manufacture and maintenance

theloadastar.com
North American trucking is being hobbled by shortages of parts, keeping up to 10% of fleets off the roads, while both trucks and drivers are also in short supply.
Many carriers have reported 6%-10% of their fleet being out of service due to a lack of brake, sensor and other parts, said Ben Cubitt, SVP network services and consulting at Transplace. Read more here (login required).

2nd day of Ambassador Bridge protest halts vehicles from leaving Michigan, limits Windsor to U.S. traffic
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cbc.ca
People protesting pandemic restrictions and lockdowns are preventing vehicles from using the Ambassador Bridge for a second day, with traffic halted from Michigan to Windsor, Ont., and limiting traffic to the U.S.
The bridge is one of the busiest international land border crossings in Canada and a major route for transport trucks. Read more here. 

Who wants to own a trucking company? Retailers are starting to line up

freightwaves.com
BJ’s Wholesale Clubs. American Eagle Outfitters. Ashley Furniture. They are among a growing trend of retailers buying up transportation and logistics assets.
Over the last four decades, trucking capacity was generally plentiful and retailers were more than happy to outsource it, explained  Gary Petty, president of the National Private Truck Council (NPTC). Freight rates were low and there was no shortage of “bottom-feeder carriers” willing to haul items cheaply. Read more here.