Newsletter – July 26, 2023

AIR FREIGHT UPDATES

Flight delays at Canadian airlines far outstrip peers in U.S., despite improvements

bnnbloomberg.ca
Canada’s two biggest airlines saw a far higher proportion of their flights delayed this summer than many of their American peers, according to figures from an aviation data firm.
Overall, only half of Air Canada’s 31,168 flights were on time between June 19 and July 16, statistics provided by Cirium reveal. Read more here.

IATA hits out at proposed Brussels night flight ban

aircargonews.net
Airline association IATA has labelled plans to introduce a night flight ban at Brussels Airport as premature.
In mid-July, Belgian mobility minister Georges Gilkinet proposed a ban on night flights at the airport between 11pm and 6am from October 2024. Read more here.

Los Angeles Airport takes on cargo project

aircargonews.net
Los Angeles World Airports (LAWA) has selected a development team led by LAX Community Partners, LLC (LACP), and an environmental, technical and expert consultant team led by Ricondo & Associates, Inc. to deliver the work. Read more here.

OCEAN FREIGHT UPDATES

Trans-Pacific shipping rates rise as carriers make capacity cuts

freightwaves.com
ShippingShipping lines finally seem to be making some headway in managing vessel capacity in the Asia-U.S. trades.
Spot rates have been on the rise for three straight weeks, rebounding to levels last seen in early 2023 and late 2022, according to several index providers. U.S. import bookings remain above pre-COVID levels, and multiple analysts are now highlighting positive rate effects from reduced vessel capacity. Read more here.

Zim downsizing its container ship fleet as demand disappoints

freightwaves.com
Israel-based ocean carrier Zim (NYSE: ZIM) is cutting its exposure to the freight market by offloading multiple leased vessels. News of its divestment strategy was first reported in late June and fresh details are now emerging.
There have been reports this week of at least five charter terminations and sublets by Zim, plus efforts to unload at least four more leased ships. Two of the early charter terminations were confirmed by the vessels’ owner. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Flooding in Nova Scotia washes out CN Rail track, disrupting train traffic

bnnbloomberg.ca
A major washout has halted traffic along part of Canadian National Railway Co.’s main line in Nova Scotia after torrential rain and flooding struck the province over the weekend.
The disruption threatens to constrict the flow of container goods from Halifax to Montreal, Toronto and Chicago only days after service resumed across the country at B.C. ports, and raises alarming questions about infrastructure stability amid growing climate volatility. Read more here.