Newsletter – July 31, 2023

AIR FREIGHT UPDATES

CMA CGM Air Cargo faces crosswinds

aircargonews.net
CMA CGM Air Cargo looked to be facing challenges as its parent shipping group released its second quarter results.
French shipping and logistics group CMA CGM did not provide specific financial figures for its cargo airline, but stated that second quarter revenue “from other activities, which include port terminals and CMA CGM Air Cargo” fell by 5.3% year on year to $474m. Read more here.

OCEAN FREIGHT UPDATES

Fears for still-burning Fremantle Highway as number of EVs aboard is revised

theloadstar.com
Authorities have drastically revised the number of electric cars on board Fremantle Highway, as the stricken Panama-flagged car carrier is under tow while still burning.
Not only are there more cars aboard than previously reported, revised to up to 3,783 from the previous figure of 2,857, but Fremantle Highway’s electric vehicle (EV) contingent of 498 is far higher than the 25 initially reported. Read more here.

GROUND AND RAIL FREIGHT UPDATES

CN Update Regarding Eastern Washouts

siffa.com
CN reported that its service on the Bedford Subdivision near Truro, Nova Scotia, was restored on July 27 after heavy rains affected rail lines for several days in the area.

Rail freight from Canada to U.S. continues to drop after ports strike

cnbc.com
Rail traffic from Canada into the U.S. had a third-straight weekly drop as a result of the on-again, off-again strike at the West Coast Canadian ports.
The vessel and container gridlock is raising concerns for chemical companies who have critical materials stuck as a result, creating supply chain issues. Read more here.

Strategic Tactics Drive Cargo Theft Rise

ttnews.com
The trucking industry has faced an increase in cargo thefts this year, with thieves developing more sophisticated and strategic tactics.
Verisk Analytics’ CargoNet in a second-quarter report released July 18 found that “supply chain risk events” increased 57% year-over-year, with 582 reported incidents across North America. This accounted for over $44 million in stolen shipments. Read more here.