Newsletter – June 27, 2022

AIR FREIGHT UPDATES

Air charter market remains buoyant as capacity is harder to find

theloadstar.com
Brokers have suggested that strong air cargo charter demand is set to continue through 2022 as businesses ramp up production again and the most severe of the pandemic restrictions have now been lifted.
“Over the past two years, the air charter cargo market has seen a rejuvenation,” said Glenn Hogben, CEO at The Air Charter Association (ACA). Read more here.

Air Canada Lays Out Key Steps In Aviation Recovery Plan

simpleflying.com
Following a summit with the Canadian Federal Transport Minister, Canadian airline Air Canada has released key steps in its Aviation Recovery Plan. Senior representatives at Air Canada met with the Canadian Transport Minister alongside other participants. Read more here.

US Congress Eyes Another Boeing Audit After Multiple 737 MAX Incidents

simpleflying.com
US plane builder Boeing faces further US Government scrutiny with Congress reportedly preparing to request an audit of Boeing’s production oversight following some 60 in-flight problems, including six emergencies, involving the 737 MAX in the 12 months since the FAA cleared the plane to fly again. Read more here.

Heathrow and Schiphol face up to a difficult summer

aircargonews.net
Two of Europe’s largest cargo hubs are facing a difficult few months as Heathrow faces possible strike action from staff at British Airways (BA) and airlines are asked to scrap flights at Schiphol.
In the Netherlands, Schiphol Airport has limited the number of passengers it can handle due to staff shortages. As a result, airlines have been asked to cancel flights. Read more here.

OCEAN FREIGHT UPDATES

Asia-US container shipping rates are flashing two bearish signals

freightwaves.com
Drewry’s weekly spot rate assessment, released Thursday, put Shanghai-Los Angeles rates at $7,952 per forty-foot equivalent unit, down 7% year on year (y/y). Drewry put the Shanghai-New York rate at $10,403 per FEU, also down 7% y/y.
That’s a big change from the week before, when Drewry’s Shanghai-Los Angeles assessment was still up 32% y/y and Shanghai-New York spot rates were up 33%. Read more here.

Hi-tech majors now see more investment potential in Vietnam than China

theloadstar.com
Vietnam is emerging as an important hi-tech manufacturing hub, following months of supply chain disruption in China.
This month, Apple reportedly decided to shift some iPad production to Vietnam after having been more exposed to Beijing’s Covid lockdowns than some of its tech rivals. Read more here.  

GROUND AND RAIL FREIGHT UPDATES

Canada’s spot market continues to cool

trucknews.com
Canadian spot market load volumes fell 15% in May, according to Loadlink Technologies, reflecting a cooling from pandemic-induced highs.
For the second consecutive month, truck capacity increased with 1.68 trucks available for each load. But despite the softening market, loads were still up 40% year over year. Read more here.