Newsletter: May 5, 2022

AIR FREIGHT UPDATES

Airport congestion masks softening in trans-Atlantic air cargo

freightwaves.com
The cargo holds of aircraft flying between Europe and North America are less full than a month ago as the number of passenger flights swells and shipping demand softens, but supply chain friction and high jet fuel prices are artificially propping up freight rates in a declining market, according to logistics experts.
Cargo owners could enjoy considerable pricing relief in the months ahead if airport constraints get better, Niall van de Wouw, co-founder and managing director of analytics firm Clive Data Services, told FreightWaves. Read more here. 

OCEAN FREIGHT UPDATES

China lockdowns are not causing shipping chaos, say liner CEOs

freightwaves.com
It was predicted that China lockdowns would cause container shipping havoc. Six weeks into Shanghai lockdowns, it still hasn’t happened. Two liner CEOs — Maersk’s Soren Skou and Matson’s Matt Cox — explained why.
“The port [of Shanghai] is open and operating,” said Skou on Wednesday’s quarterly earnings call. Trucking and warehouse disruptions “are slowing things down somewhat and we are seeing an impact on our volumes out of China, but probably less than we would have expected. Read more here. 

Concordia Maritime selling its last suezmax

splash247.com
Stena-backed Concordia Maritime is selling its last suezmax tanker, the 2012-built Stena Supreme, taking advantage of the yen’s tumble and buoyant asset prices.
The vessel has been on a bareboat charter from the Japanese shipowner Doun Kisen since 2016 under a contract with annual purchase options priced in yen. Read more here.

Shipping urged to prepare for potential next pandemic

splash247.com
Stronger, long-term cooperation between industry, international bodies and governments is required to address the increasing challenges and changes to the maritime labour market in the wake of the pandemic, according to a major new report published this month. Read more here. 

Ship repair queues grow thanks to Chinese lockdowns

splash247.com
While the force majeures announced at multiple shipbuilding yards in the wake of China’s series of lockdowns have been widely reported, the effects of Beijing’s zero-Covid policy in the domain of ship repair is only recently coming to light.
Shipowners are trying to avoid the People’s Republic to carry out essential upgrades, repairs and drydockings leading to other yards around the world getting substantial backlogs. Read more here. 

‘Unreasonable fees’ send Australian shippers into multi-billion dollar frenzy

theloadstar.com
Australian shippers are battling a double-whammy of spiralling supply chain inflation, container detention fees and delays to manufacturing in China.
Not shy of criticising the “foreign-owned” shipping lines serving Australia, today the Freight & Trade Alliance (F&TA) has again called for greater regulation of the shipping industry, because of “unreasonable fees”. Read more here (login required).

GROUND RAIL AND FREIGHT UPDATES

Spring Weight Restrictions 2022

cn.ca
Quebec:
To all Customers shipping Intermodal containers to/from the Province of Quebec, the Government has issued new end dates for Spring Thaw restrictions. While these dates posted by the Government of Quebec are subject to change, please note the updates…Read more here.