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Newsletter – June 28, 2018
AIR FREIGHT UPDATES
Clouds may be gathering to darken the heady days of air freight growthsource: theloadstar.co.ukForwarders, scarred by 2017’s heady demand, may be block-booking air freight space for the second half of the year, but the pace of growth is slowing. Read more here (login required).
Chinese Airlines become collateral damage in US trade spat
source: ajot.com
Chinese airlines ordered more than $100 billion of planes from Airbus SE and Boeing Co. in the past decade. Paying those bills is getting harder with the prospect of a trade war pushing the local currency to its lowest level in six months. Read more here.
OCEAN FREIGHT UPDATES
Transpacific trade struggles under weight of competitionsource: lloydsloadinglist.comOvercapacity and falling rates on the transpacific trade have seen the 2M alliance pull one service between Asia and North America, but increasing ship sizes mean total capacity will increase, as lines continue to fight for market share. Read more here.
Loss of billions feared as Karachi Port workers go on strike
source: fp.brecorder.comWorkers’ strike has put billions of rupees export orders at stake as operations of the Karachi Port’s South Asia terminal have been suspended as workers have gone on strike for their demands since Monday. “If the strike prolongs, it may engender cancellation of vital export orders that will not only result in huge losses to the exporters but also to the national exchequer,” Pakistan Textile Exporters Association chairman Mian Shaiq Jawed said in a press statement, here on Tuesday. Read more here.
Shipper voice dissatisfaction with liner service qualitysource: splash247.comThe service provided by container shipping lines has deteriorated since 2016 and is now seen by exporters, importers and freight forwarders as problematic, according to the second annual shipper satisfaction survey of Drewry and the European Shippers’ Coucil (ESC). Read more here.OOCL cancels Asia-Europe sailings due to ‘low demand’ during summer periodsource: shippingazette.comHONG Kong’s Orient Overseas Container Liner (OOCL) has announced the cancellation of its Asia-Europe sailings on the eastbound and westbound WM1 service due to the “expected low demand in the West Mediterranean region during the summer holiday period.”The Asia-West Mediterranean westbound service ETA Qingdao on July 9 in Week 28, and the eastbound service ETA La Spezia on August 10 in Week 32 have been cancelled, OOCL said in a statement.
GROUND AND RAIL FREIGHT UPDATES
Eight CN Rail freight cars derail in Metro Vancouver, closing busy rail bridgesource: canadianshipper.comNew Westminster, BC — Eight cars from a Canadian National Railway freight train have jumped the tracks in Metro Vancouver.CN spokeswoman Kate Fenske says in an email that the empty grain cars derailed just after midnight on the Fraser River Bridge at an overpass in New Westminster. Read more here.
US road freight shortages set to worsen over summersource: lloydsloadinglist.comUS road freight shortages that have been driving up prices over much of the last year are likely to worsen as demand builds through the summer, further adding to inflationary costs for shippers, according to founder and head analyst at US-based consulting firm Logistics Trends & Insights, Cathy Roberson. Read more here.