Newsletter – May 2, 2023

AIR FREIGHT UPDATES

AeroMexico opts for pallet solution to optimise capacity

aircargonews.net
Aeromexico Cargo has signed up to use software that can optimise the loading of pallets.
The airline will utilise tech firm Wiremind Cargo’s SkyPallet solution, becoming the first Latin American headquartered company to do so. Read more here.

Cargojet reduces costs to reflect weaker market conditions

aircargonews.net
Cargojet reported softer market conditions in the first quarter of the year as international flying was subdued and has taken steps to reduce short-term costs.
The Canada-based freighter operator reported a 0.7% decrease in first-quarter revenues to C$231.9m, while earnings before interest reached C$34.6m compared with a C$44.5m loss last year and net earnings stood at C$30.5m against a loss of C$56.4m last year. Read more here.

OCEAN FREIGHT UPDATES

Bankrupt retailer Bed Bath & Beyond sues OOCL for $37.65m

theloadstar.com
US retailer Bed Bath & Beyond, which last week filed for bankruptcy protection, has filed a claim of $37.65m against OOCL, alleging exploitative and unjust business practices during the pandemic.
The retailer has filed its complaint with the FMC, alongside increasing numbers of other angry shippers. Read more here (login required).

Owners face severe yard bottleneck

splash247.com
Shipowners face a severe shipyard bottleneck if they want to source prompt delivery slots from yards in Asia, a situation that is set to worsen in the coming months.
Analysis from multiple broking and banking sources show that available delivery slots have all but dried up for 2025, and are rapidly disappearing for 2026 too. Read more here.

GROUND AND RAIL REIGHT UPDATES

California approves banning new diesel trucks at ports from 2024

splash247.com
The California Air Resources Board (CARB) approved the measure called Advanced Clean Fleets, which would prohibit the sale of all new medium and heavy-duty vehicles by 2036 and ban new diesel trucks from ports and railyards from next year.
The new regulation applies to local, state and federal government vehicles as well as fleets owned by entities with annual revenues of $50m or more that own, operate or direct at least one vehicle in California and have a total of 50 or more vehicles. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Tentative deal with PSAC estimated to cost Treasury Board about $1.3B per year

cbc.ca
A tentative contract agreement has been reached between The Public Service Alliance of Canada (PSAC) and the Treasury Board, covering more than 120,000 federal government workers across the country.
During a news conference Monday afternoon, Treasury Board president Mona Fortier said the cost to taxpayers is estimated to be about $1.3 billion per year, “less than half of the cost of PSAC’s original demands.” Read more here.