Newsletter: March 14, 2022

AIR FREIGHT UPDATES

Airline Fuel Surcharge Could Spike By 15% This Summer

simpleflying.com
Summer holidays will be coming at a premium if oil prices continue to increase. Experts have claimed that potential fuel charges could raise airfare costs by at least 15%.
The Russian invasion of Ukraine has sparked an energy shock, with oil prices reaching their highest level since 2008. Read more here.

IATA Wants Intra-EU Travel Restrictions Dropped

simpleflying.com
Airline industry trade group IATA and Airports Council International (ACI International) have called for all remaining COVID restrictions applying to intra-EU and Schengen zone travel to be dropped. This includes ending mask-wearing for travel within or between States where it is no longer required in other indoor environments, ending testing requirements, and the need to present proof of vaccination or complete a passenger locator form (PLF). Read more here. 

OCEAN FREIGHT UPDATES

Crews Start Abandoning Ships In Ukraine

gcaptain.com
By Ann Koh (Bloomberg) Some shipowners have begun to ask crew to abandon their ships stuck off the coast of Ukraine, as Russia’s invasion of its neighbor reached the end of its second week.
M.T. Maritime has evacuated 22 Filipino seafarers from its oil-products tanker MTM Rio Grande, leaving the vessel unmanned and moored at Nika-Tera port in Ukraine, the company said in an e-mailed reply to queries. The crew are currently in Romania waiting for a flight back to the Philippines, it said. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Fuel price volatility: Positive and negative implications for transportation providers

freigtwaves.com
The retail price for diesel fuel has jumped 28% since Russia’s invasion of Ukraine, or roughly $1.12 a gallon. Fuel prices are higher than they were in 2009 when the DOE reported an average price of $4.72 that May. There are still questions about how long this will last, but there are both good and bad implications for carriers and the results vary wildly based on your buying power. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Vancouver invests in air cargo

aircargonews.net
Vancouver International Airport (YVR) is seeking a partner for investment, completion of construction and lease-up of a 300,000 sq ft facility that is set to boost air cargo business.
YVR has selected Cushman & Wakefield as its exclusive advisor to secure a partner for the Airport Commerce Centre near the airport’s main terminal on Sea Island. Read more here.  

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

China’s tech hub Shenzhen locks down 17.5 million residents, closing Apple factories and risking chaos in global supply chain

fortune.com
Apple supplier Foxconn shut operations at two of its largest manufacturing sites in Shenzhen on Monday, after authorities in China’s southern tech hub ordered the city of 17.5 million into lockdown to combat an outbreak of COVID-19. Foxconn, Apple’s top iPhone manufacturer, said it is waiting on the advice of the local government to determine when the factories will reopen. Read more here.