Newsletter – July 21, 2023

AIR FREIGHT UPDATES

Ocean carrier MSC adds 2nd cargo jet

freightwaves.com
Mediterranean Shipping Co., the largest ocean container line in the world, has received a second aircraft from Boeing for its startup cargo airline.
The new 777-200 freighter will be operated by Atlas Air under a long-term transportation service agreement that calls for providing four 777 aircraft, crews, maintenance and insurance. The new cargo jet will complement MSC Air Cargo’s existing around-the-world weekly service, which began in December, that stops in Mexico City; Indianapolis; Liege, Belgium; Seoul, South Korea; and Xiamen, China, according to an Atlas Air news release on Thursday. Read more here.

OCEAN FREIGHT UPDATES

Is the B.C. port workers strike over? Labour minister’s office hints yes

globalnews.ca
Port workers in British Columbia are no longer on strike, the federal labour minister’s office says, and are expected to be back at work Thursday.
That was the office’s interpretation after the port workers’ union removed its new 72-hour strike notice Wednesday evening hours after it was issued and without explanation, sparking speculation about what will come next in the latest round of strike action. Read more here.

CMA CGM Set to Pass Maersk in Boxship Leaderboard Shakeup

maritime-executive.com
First, it was Mediterranean Shipping Company (MSC) and now it appears that French shipping giant CMA CGM is on track to leap past Maersk to become the world’s second-largest container carrier according to a new market analysis from Alphaliner. After having led the industry’s consolidation, the Danish shipping company’s strategic focus has recently shifted from growth to integration and evolving to a logistics company. Read more here.

Drought threatens return of shipping disruption on US waterways

theloadstar.com
The current spell of seriously hot weather is threatening disruption on US inland waterways, and beyond.
Water levels on the Mississippi and Ohio rivers are falling at an alarming rate – near the city of Cairo, the level of the Ohio River dropped six feet in one week and experts predict a further decline of four feet before the end of the month. Read more here.

Box lines seek new partners as they target profitable routes

theloadstar.com
To penetrate more lucrative tradelanes, ocean carriers are looking for vessel-sharing partners outside their main east-west alliances.
And with their services under financial pressure, container lines are redeploying tonnage to routes they believe can still make money, whether on a standalone basis, by vessel-sharing or, in the first instance, with slot purchases. Read more here (login required).