Newsletter – June 21, 2023

AIR FREIGHT UPDATES

FedEx to ground more planes as profits come under pressure

aircargonews.net
Express giant FedEx will ground more aircraft after both revenues and operating income declined during its fiscal fourth quarter of the year due to “demand weakness and cost inflation”.
In a results call, FedEx Corporation president and chief executive Raj Subramaniam said that the company had retired 18 aircraft, including 12 MD-11Fs, during the quarter ended May 29 and there were plans to “take out” another 29 aircraft from scheduled flying during the coming fiscal year. Read more here

OCEAN FREIGHT UPDATES

It’s survival of the fittest as the shortsea market hits heavy weather

theloadstar.com
Shortsea shipping lines in Northern Europe are facing a fight for survival as demand weakens and rates plummet.
As in the deepsea sector, shortsea container carriers and feeder lines are having to adjust to a reduction in demand across their networks.Read more here (login required)

Barge operators impose surcharges after rapid fall in Rhine water level

theloadstar.comtheloadstar.com
A rapid decline in water levels along the Rhine has resulted in barge operators imposing low-water surcharges (LWSs).
While nowhere near last year’s levels, which fell to 32cm, forcing the Rhine’s closure, MSC announced it would pass on to customers LWSs imposed by its barge operator partners on services to or from Antwerp and Rotterdam after the river dipped below 150cm. Read more here (login required).

GROUND AND RAIL FREIGHT UPDATES

Slowdown in grocery inflation may be good news for trucking companies

freightwaves.com
The biggest food brands have cooled it on price inflation. That’s good news for consumers — and trucking companies.
Two freight brokers told FreightWaves that truckers have had to reorganize their routes to grocers in the past year due to reduced volumes, though they haven’t experienced the fallout of business that other firms have grappled with… Read more here

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Are Your Employees Using One of the 10 Worst Passwords in Transportation?

ccjdigital.com
A password is often the first, and many times the only, line of defence a trucking company’s critical systems has from would-be hackers, making password selection critical. It can go one of two ways: Pick something easy to remember or something difficult to guess. It’s the equivalent of closing a front door or a screen door. Read more here