Newsletter – March 15, 2024

AIR FREIGHT UPDATES

IATA reports on latest progress made on lowering carbon emissions
aircargonews.net
The International Air Transport Association (IATA) has released the latest edition of its Fly Net Zero reports, which covers the latest industry developments for January and February as the industry moves towards a target of zero carbon emissions by 2050.
Some of the latest developments relate to the cargo side of the aviation industry. For example, Korean Air Lines announced a partnership agreement with Japanese global logistics company Yusen Logistics for a sustainable aviation fuel (SAF) cooperation programme for cargo. Read more here.

Air cargo demand drivers
aircargonews.net
The rapid rise of e-commerce, disruption in ocean shipping and supply chain diversification are some of the main drivers of air cargo demand in the current market.
Speaking at the IATA World Cargo Symposium, Xeneta chief airfreight officer Niall van de Wouw identified three factors that drive air cargo demand: container shipping performance, consumer demand and the need to de-risk supply chains. Read more here.

Big three US airlines again delay resumption of further China flights
aircargonews.net
The three largest US airlines are pushing back until at least late October the resumption of many flights to China that they cut early during the Covid-19 pandemic.
American Airlines, Delta Air Lines and United Airlines received authority from the US Department of Transportation (DOT) to delay by another 90 days the resumption of nearly 100 weekly flights to China, according to regulatory documents released on March 5. Read more here.

OCEAN FREIGHT UPDATES

Tribunal rejects Montreal port employers’ bid to rule dockworkers as essential
halifax.citynews.ca
MONTREAL — A federal tribunal on Thursday reiterated its stance that Montreal port employers cannotrequire employees to work during a strike, paving the way for negotiations to resume ahead of potential job action.
In a summary decision, the Canada Industrial Relations Board rejected a request by the Maritime Employers Association to deem port work an essential service in a bid to prevent a strike on the waterfront. Read more here.

Transpacific freight rates – it’s all about ‘who blinks first’
theloadstar.com
Container spot rates are falling – but not fast enough for transpacific shippers that walked away from what they regarded as “excessive” new rate demands from carriers for annual contract renewals at the S&P Global TPM24 conference in Long Beach, California, last week.
And the gradual erosion of the Red Sea crisis spike in container spot rates continued this week, with Drewry’s WCI composite index shedding another 4%. Nonetheless, it remains 77% higher than 12 months ago. Read more here (login required).

GROUND FREIGHT UPDATES

Charging infrastructure a hurdle in EV transition, Deloitte Canada report says
trucknews.com
The charging infrastructure is a critical constraint in the electric vehicle (EV) transition for the commercial vehicle industry in Canada, a new Deloitte Canada report reveals.
Strategic planning and collaboration across the fleet ecosystem are vital to overcome this challenge, according to Power to the Fleet: Choosing the best charging infrastructure and commercial ecosystem for your electric vehicles. Read more here.