Newsletter – March 25, 2020

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    Newsletter – March 25, 2020
    AIR FREIGHT UPDATES
    Supply chain special:Airfreight sector responds to Covid-19
    aircargonews.com
    The spread of Covid-19 across the world has had a devastating effect on the aviation industry, forcing airlines to ground swathes of aircraft as passenger demand has collapsed across the globe.
    However, the air cargo industry has – so far at least – been a silver lining. Read more here.
    Air freight rates soar as carriers abandon contracted rates
    lloydsloadinglist.com
    Air freight prices are continuing on an upward trajectory, although recent injections of capacity from passenger airlines have alleviated the impact on forward prices, according to the latest update from Freight Investor Services (FIS). Read more here.
    Air Canada Cargo: Extended Storage Times for General Cargo
    ciffa.com
    To provide its Canadian customers with more flexibility in their supply chains, effective immediately, Air Canada Cargo is extending its free storage period for AC General Cargo import shipments from two to ten days at all Canadian stations.
    As usual, this storage time is calculated from 00:01 on the day following the day of arrival (check-in). For Friday arrivals, the first Saturday and national legal holiday falling on a Monday are excluded in determining when free storage time expires.
    Special handling cargo continues to have only 24 hours of free storage before fees apply.
    If you have questions about a specific shipment, contact the Air Canada Cargo customer service team, at 1-800-387-4865 or cargo.customerservice@aircanada.ca.
    Emirates And Etihad Ground All Flights Immediately
    simpleflying.com
    Emirates and Etihad will ground all flights for the time being with immediate effect. The only aircraft allowed to commence a journey will be those currently outside of the United Arab Emirates. The news comes as governments across the globe are enacting sweeping travel restrictions. Read more here.
    OCEAN FREIGHT UPDATES
    HMM pays $25m into emergency fund ahead of joining THE Alliance next week
    splash247.com
    South Korean flagship HMM has deposited $25m into THE Alliance’s contingency fund ahead of its April 1 joining of the liner grouping.
    The cash reserve was first set up three years ago in the wake of the collapse of another Korean liner, Hanjin Shipping, and the then partners of the defunct CKYHE alliance had to handle the supply chain fallout from the bankruptcy. Read more here.
    CANADA BUSINESS – GOVERNMENT UPDATES
    Global Economic Outlook—Spring 2020
    edc.ca
    As the world grapples with COVID-19 and rapidly shifting economic and political news, Canadian exporters are facing new risks during these uncertain times. EDC’s Global Economic Outlook offers insight on these challenges to help you make better business decisions. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    India in lockdown – moving cargo through ports and airports is a struggle
    theloadstar.com
    The world’s largest ever population lockdown has led to a string of supply chain disruptions in India.
    In a bid to tackle the country’s coronavirus outbreak, around 750 million people are subject to travel and work restrictions,  currently until 31 March.  Read more here.
    Amazon Prime suspends delivery promises; future of fast shipping under scrutiny
    freightwaves.com
    Amazon (AMZN) told consumers this past week that its paid-subscription Prime service is facing monthlong delays in shipping due to the coronavirus outbreak and that the company will focus on stocking and delivering higher-priority items. Read more here.

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