Newsletter – March 7, 2023

AIR FREIGHT UPDATES

NYK to sell air freight division

splash247.com
Japanese shipping line Nippon Yusen Kaisha (NYK) has agreed to sell its air cargo transportation business to compatriot airline All Nippon Airways (ANA). One of the largest shipowners in Japan has sealed a memorandum of understanding that will see ANA acquire all shares in freighter operator Nippon Cargo Airlines (NCA), with the transaction expected to close by October 1 this year. Read more here.

IATA warns “disjointed” EU PLACI roll out could result in customs delays

aircargonews.net
The International Air Transport Association (IATA) has called for urgent action to address the disjointed roll out of the EU’s new Pre-Loading Advance Cargo Information (PLACI) System.
The EU PLACI system is a new layer of advanced security information for air cargo shipments coming into the EU which went live on March 1. Read more here.

Cargojet to sell 777 aircraft, defer cargo conversions as demand slips

freightwaves.com
Canadian airline Cargojet said Monday it plans to sell two Boeing 777-300 aircraft it had planned to convert into freighters and is postponing orders for other large-aircraft modifications to preserve cash as the weak global economy lowers demand for shipping goods.
The all-cargo carrier, which reported a CA$16.3 million ($12 million) decline in gross margin for the fourth quarter because the normal year-end bump in shipping volumes didn’t materialize, said it expects to finalize the 777-300 sale early this quarter for $53.5 million and defer the delivery of two more 777-300s to help weather the current economic downturn. It didn’t disclose who will buy the aircraft. Read more here.

OCEAN FREIGHT UPDATES

IMO to debate threats posed by increasing ship-to-ship transfers

splash247.com
Member states of the International Maritime Organization (IMO) will debate a proposal to clamp down on ship-to-ship transfers at the next meeting of the United Nations body’s legal committee this spring.
In the wake of sanctions against Russia, the volume of ship-to-ship transfers has soared with Russia taking cargoes from its coast on smaller tankers and then moving them onto larger ships before heading to the likes of India and China, a trend that has alarmed many governments at the potential environmental risks posed. Read more here.

GROUND AND RAIL FREIGHT UPDATES

CN Workers Back Union Strike Mandate as Contract Talks for 3,000 Employees Continue

globalnews.ca
CN workers backed a strike vote with negotiations set to resume on a contract for around 3,000 Canadian employees.
Unifor announced Sunday that workers with Local 100 are 98 per cent in favour of a strike while those with Council 4000 voted 97 per cent to back job action.
The union says the two sides are in the final stages of negotiations, with another round of talks set for next week. Read more here.

Carriers, railways and shippers tackling costs in a post-pandemic market

trucknews.com
Canadian carriers and shippers are applying tools as diverse as new technology and offshore labor in the face of inflationary pressures, labor shortages, and softening freight volumes.
In other words, they are looking to address changing market dynamics in a post-pandemic world. Read more here.