Newsletter – March 5, 2020

  • 05

    Mar

    Newsletter – March 5, 2020
    AIR FREIGHT UPDATES
    IATA Estimates The Impact Of Coronavirus On Worldwide Aviation
    simpleflying.com
    The International Transport Association (IATA) has released updated estimates for the financial impact of the coronavirus. It now foresees potential 2020 revenue losses in numbers above $100billion for the global air transport industry. Read more here.
    Drone Delivery Canada begins flights for first paying customer
    freightwaves.com
    Drone Delivery Canada (DDC) is advancing several programs for cargo drones, including plans to launch revenue-generating package deliveries this month from DSV Panalpina A/S’s 1.1 million-square-foot import/export distribution center near Toronto. Read more here.
    Volatile market sparks call for review of how air freight capacity is traded
    theloadstar.com
    Volatility in the commoditised air freight market is at an all-time high, prompting calls for a re-think of how air freight capacity is bought and sold.
    The most reliable, and up-to-date, data on capacity utilisation, published yesterday, shows a near-9% year-on-year fall in chargeable weight for February, as coronavirus impacted air cargo. Read more here.
    OCEAN FREIGHT UPDATES
    US, Europe backhaul box rates rise on coronavirus
    freightwaves.com
    As predicted, the coronavirus-induced cancellations of fronthaul container-ship sailings from China to the U.S. and Europe are creating a capacity shortfall for cargo going the opposite direction — and rates are starting to escalate.
    Copenhagen-based Sea-Intelligence reported on Monday that a total of 77 container-ship sailings had been blanked (canceled) due to coronavirus — 48 trans-Pacific and 29 Asia-Europe. Read more here.
    Paperless ocean freight ‘at least a decade away’
    lloydloadinglist.com
    The idea of paperless documentation in container shipping is a least a decade away, according to the chief executive of digital documentation start-up Expedock. Read more here.
    CANADA BUSINESS – GOVERNMENT UPDATES
    Justin Trudeau warns that Canada’s economy is taking a hit from spread of coronavirus
    thestar.com
    OTTAWA—The Bank of Canada slashed a key interest rate Wednesday in a bid to blunt the economic impact of the spread of COVID-19 even as Prime Minister Justin Trudeau warned that a slowdown is already taking hold.
    “We are currently seeing an impact on the global economy,” Trudeau said Wednesday, citing disrupted supply chains because of the virus’ impact in China and a downturn in travel and tourism. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    El Paso and New Mexico freight volumes rise as consumers demand imports from Mexico
    freightwaves.com
    Strong consumer spending has been driving up freight volumes in El Paso, Texas, and New Mexico ports of entry the past several weeks.
    As American consumers keep spending money, factories in Juarez, Mexico, keep producing goods such as computers, televisions, medical equipment, cars and auto parts, industry insiders said. Read more here.
    As Chinese supply chains start to move again, slowly, new bottlenecks appear
    theloadstar.com
    As Chinese industrial production begins to recover, North American shippers that spread their Asian sourcing, and have so far escaped the worst of the coronavirus-related supply chain issues in China, are likely to encounter new transport bottlenecks in the wider region. Read more here .

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