Newsletter – March 5, 2024

Airfreight braces for turbulence
aircargoweek.com
Several macroeconomic factors have contributed to the uncertain forecast for the airfreight industry in 2024, including sluggish global economic growth, inflationary pressures, geopolitical tensions, and supply chain disruptions.
Potential recessions and interest rate hikes could exacerbate these challenges, dampening consumer spending, reducing demand for airfreight services, and increasing financing costs for industry stakeholders. Read more here.

Zurich Airport Will Spend $283 Million On Longer Runways
simpleflying.com
Zurich Airport (ZRH) has announced that following a successful vote by local residents, the airport will invest over $283 million to extend two out of three of its runways by several hundred meters, namely Runway 28 and Runway 32.
However, the company’s announcement said that the project, for which the airport’s holding company is prepared to invest CHF250 million ($282.1 million), will only begin in 2030. Read more here.

Airfreight industry’s sustainable stance
aircargoweek.com
Environmental sustainability is a prominent issue that needs to be addressed as global trade rises. Realising its moral responsibility towards safeguarding the environment and creating a better future for upcoming generations, the airline industry has pledged to be “net zero by 2050.”Danita Waterfall-Brizzi, Principal Cargo & Logistics Consultant, Hospitio Consulting Services, asked, “What is being done to safeguard this target or tackle challenges we face to achieve them?” Read more here.

Welcome to the world’s busiest airfreight hub
aircargoweek.com
“Hong Kong is back” – That’s the message from Cathay Cargo as they prepare to welcome attendees to the World Cargo Symposium to its hub.
“It’s the perfect time for WCS to come to Hong Kong,” said Tom Owen, Director of Cargo at Cathay Cargo, the host airline for the 2024 edition of the air transport cargo event. “Hong Kong has had a rough ride over the last four years, from social unrest to Covid impacting its air cargo logistics status. It hasn’t been able to showcase its extraordinary logistical abilities to the world.” Read more here.

---

OCEAN FREIGHT UPDATES

TPM24: ONE CEO Nixon bullish on ‘life after Hapag’ – with new solo services
theloadstar.com
Two ocean carrier CEOs affected by alliance divorce appeared in consecutive sessions on the first conference day of the S&P Global TPM24 event in Long Beach on Monday.
First up, as part of a panel session discussing the outlook for container shipping, was ONE CEO Jeremy Nixon, who referred to a “positive impact” from the 2025 consortia changes which, in addition to the demise of the 2M, will see THE Alliance’s founding lead line Hapag-Lloyd leave the VSA next February to partner with Maersk in the Gemini Cooperation. Read more here (login required).

THE Alliance should seek cooperation with MSC, post-Hapag
theloadstar.com
US consultancy AlixPartners has suggested that, as THE Alliance would be the weakest box shipping grouping after Hapag-Lloyd’s departure next year, it should investigate a tie-up with MSC to stay competitive.
MSC will operate alone after Maersk breaks up the 2M Alliance to join with Hapag to form the Gemini Cooperation next February. Read more here (login required).

Empty container movements increase by 20%
worldcargonews.com
By analysing data sourced from Container Trade Statistics (CTS) on the movement of full containers between regions, it is evident that the expansion of empty container volumes, when compared to 2019 (excluding the significant fluctuations caused by the pandemic), has hovered around the 20% threshold over recent months. Read more here.