Newsletter – June 2, 2023

AIR FREIGHT UPDATES

Air Canada flight communicator system breaks down, causing widespread delays

cbc.ca
Air Canada is experiencing an issue with one of its internal systems, leading to flight delays across its network.
The airline said Thursday it is “experiencing a temporary technical issue with its communicator system, one of the systems that we use to communicate with aircraft and monitor operational performance.”
The issue is causing delays across the system, with 234 flights delayed so far on Thursday and 34 cancellations, according to FlightAware.com. That’s about 44 per cent of the airline’s daily load. Read more here.

‘Alarming signals’ as airfreight capacity rises and rates fall

theloadstar.com
If you thought the ocean market was poor, air cargo is faring even worse – a decline which could see it dismissed from client boardrooms again.
Air freight looks likely to hit rock bottom within the next couple of months, albeit with some slack remaining in the market through next year. Read more here.

OCEAN FREIGHT UPDATES

Vancouver Fraser Port Authority announces leadership transition for CEO

portvancouver.com
Vancouver, B.C.: Vancouver Fraser Port Authority CEO Robin Silvester has announced that he will be leaving the port authority after more than 14 years leading the organization.
“It is time for a new challenge for me, and to make space for a new leader at the port authority after the recent federal environmental assessment approval of the Roberts Bank Terminal 2 Project, the most significant strategic priority of the last decade,” said Robin. Read more here.

Cargo shifts back to US west coast ports, but some has gone for good

theloadstar.com
Beneficial cargo owners have begun to move traffic back to US west coast ports from the east.
The western gateways lost volumes to ports on the east and Gulf coasts after concerns of potential lockdowns or congestion. Read more here (login required).https://theloadstar.com/cargo-shifts-back-to-us-west-coast-ports-but-some-has-gone-for-good/

US import demand positioned to find a new bottom in 2023

freightwaves.com
Exactly one year ago, SONAR’s ocean container bookings data revealed that U.S. import demand for containerized goods was dropping off a cliff, and while that same bookings data is still trending right alongside 2019 levels (as we forecast), the weakening global macroeconomic backdrop is continuing to add further downside risks to volumes. With U.S. importers likely as cautious as ever before in bringing in new volumes during the second half of 2023, it is increasingly likely that U.S. import demand is again positioned for new declines and destined to find a new bottom in the second half. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Canadian port to become green hydrogen hub

splash247.com
Canadian renewable energy company World Energy GH2 is pressing ahead with plans to produce and ship green hydrogen and green ammonia to global markets with the acquisition of the Port of Stephenville on the west coast of the province of Newfoundland and Labrador.
World Energy GH2 is developing Canada’s first commercial green hydrogen/ammonia producer backed by over 3 GW of wind energy to deliver approximately 250,000 tons per year of hydrogen using 1.5 GW electrolysers starting in 2025. Read more here.