Newsletter – May 8, 2023

AIR FREIGHT UPDATES

Airfares Could Rise By 22% Due To Climate Change Challenges

simpleflying.com
Climate change and carbon emissions are a major concern for every industry in the world, including aviation. Thanks to constant developments and huge investments in research and technology throughout the years, the aviation industry has stabilized its share of global aviation Carbon Dioxide (CO2) emissions between two and three percent. Read more here.

Global tonnages in April down by -10%

aircargoweek.com
Global tonnages appear to have stabilised in the last week of April, following a mid-month increase after dropping sharply at the end of March and declining for several previous weeks, according to the latest weekly figures from WorldACD Market Data, with rates also stabilizing and even slightly rising after a period of decline. Read more here.

OCEAN FREIGHT UPDATES

Carriers struggle to hold transpacific GRIs as rates come under pressure

theloadstar.com
The transpacific mid-April GRIs imposed by carriers, ahead of the finalisation of annual contracts, are beginning to lose steam as container spot rates from Asia to the US come back under pressure.
Xeneta’s XSI Asia-US west coast component declined 9% this week, to $1,484 per 40ft, while the Freightos Baltic Exchange FBX average spot rate fell 10% to $1,527 per 40ft. Read more here (login required).

FMC says successfully disputed charges pass $1m landmark

theloadstar.com
The US Federal Maritime Commission (FMC) said that, in the 10 months since the Ocean Shipping Reform Act (OSRA) was passed, more than $1m of disputed charges to shippers and forwarders have been waived or refunded.
The commission said “the milestone” was passed on 1 May. Read more here (login required).

GROUND AND RAIL REIGHT UPDATES

CN Network Update: Wildfires in Edson, Alberta

ciffa.com
Due to forest fires near Edson, Alberta and along its Edson Subdivision, CN suspended train operation in the corridor between Edmonton and Jasper on Saturday. On Sunday, service was restored, with some commodity restrictions (placarded flammable products). Service will be resumed gradually based on input from all of the local communities and stakeholders.
There is a significant backlog of trains. Assuming no changes to the current conditions, CN would expect to be at normal operating levels by the end of the week. However, the railway advises that conditions in the area have yet to stabilize.

Borderlands: AI’s rising impact on cross-border trade focus of new report

freightwaves.com
According to a new report from Eurora, AI and machine learning (ML) can help shippers comply with the diverse cross-border trade regulations enforced by different countries.
The report, “The case for AI in cross-border trade,” examines challenges faced by logistics providers and the e-commerce sector due to an increasingly complicated regulatory environment and how AI and ML can help streamline international shipments. Read more here.