Newsletter – May 16, 2023

AIR FREIGHT UPDATES

Worldwide Airline Passenger Traffic To Go Beyond Pre-Pandemic Levels In October

simpleflying.com
Global air passenger figures could return to 2019 levels earlier than previously expected, with Rob Morris, Global Head of Consultancy at Ascend by Cirium, predicting that it could happen as soon as October 2023. Morris presented his assessment, based on revenue passenger kilometers (RPK), at last week’s ISTAT Asia conference in Bangkok. Read more here.

OCEAN FREIGHT UPDATES

Containership charter market ‘not playing ball’, but NOOs are happy

theloadstar.com
Greek non-operating containership owner (NOO) Danaos and compatriot container and bulk shipowner Costamare have both reported another set of strong first-quarter results.
Moreover, unlike their ocean carrier customers, the future return from the container sector is considerably more assured for NOOs, given the current bullish charter market and increased fixture durations. Read more here (login required).

CANADA BUSINESS – GOVERNMENT UPDATES

Three Quebec ports announce net zero goal

insisdelogistics.ca
The Ports of Montreal, Québec and Trois-Rivières are taking the federal government’s Net-Zero Challenge.
The announcement was made by Daniel Dagenais, vice-president, port performance and sustainable development of the Montreal Port Authority (MPA) alongside Pascal Raby, vice-president, operations of the Québec Port Authority, and Jacques Paquin, executive vice-president of the Trois-Rivières Port Authority. Read more here.

Small business owners are working equivalent of 8-day week due to staff shortages

financialpost.com
TORONTO — A new study by the Canadian Federation of Independent Business says the average small business owner is working the equivalent of an eight-day workweek due to staffing challenges, especially in Western Canada.
The report, based on a survey of CFIB members last September, found 59 per cent of Canada’s small and medium-sized businesses were affected by labour shortages, forcing the average owner to work 54 hours per week to compensate. Read more here.

INTERNATIONAL GOVERNMENT – BUSINESS UPDATES

Global Trade Data Shows Early Signs of ‘Reglobalization’

ttnews.com
The global trading system is undergoing tectonic shifts that will reorient international supply chains for decades to come.
Blame two main forces. Companies spooked by pandemic shortages, price spikes and shipping disruptions are reducing reliances on a single factory or country. Meanwhile, governments — especially those in the U.S. and Europe — want to ensure access to key materials like semiconductors and rare-earth minerals in case the world trade splinters into geopolitical blocs. Read more here.