NEWSLETTER NOVEMBER 14, 2022

AIR FREIGHT UPDATES

Airlines betting on freighters: a waste of space or a timely investment?

theloadstar.com
As the airfreight market comes to a shuddering halt, the market is looking closely at capacity commitments that were made during the boom times.
Airlines have been betting on freighters: Air Canada, Astral, Avianca, Bluebird Nordic, CMA CGM, Emirates, Maersk, Qatar … whether it’s narrowbodies or widebodies, production or conversion, capacity is on its way just as the market begins to look shaky. Read more here.

China Flight Searches Surge As COVID Measures Relax

simpleflying.com
The effects of China’s new COVID prevention policy are prompt and remarkable, especially for international travelers. Data shows searches and bookings for flights into China rocketed hours after the announcement issued by the Chinese government on Friday, according to Ctrip.com, a Chinese online travel giant. Read more here.

OCEAN FREIGHT UPDATES

Canceled sailings from China and ‘radical’ vessel cuts hit U.S. ability to reach export market

cnbc.com
KEY POINTS
A rise in canceled sailings from Asia to the U.S. is slowing the U.S. export market and global shippers are warnings of more “radical” cuts in vessels.
The Port of Savannah and Port of Long Beach are seeing the sharpest increase in shipping container delays. Read more here.

Carriers lose pricing discipline with ‘unsustainable’ ex-Asia freight rates

theloadstar.com
Ocean carriers are heavily discounting spot cargo from Asia as ‘top up’ for their much higher paying contract business.
But steep rises in bunker prices and skyrocketing operating costs suggest pre-pandemic rate levels are unsustainable in the longer-term. Read more here.

Florida shipper sues, claiming Maersk ‘flouts the law to rake in profits’

theloadstar.com
A Florida shipper has issued a complaint against Maersk and its subsidiary, Hamburg Süd, that includes a failure to meet contractual obligations and “retaliation and collusion” to manipulate the market. Read more here (login here).

Australian supply chains plunged into chaos as nation’s largest tug boat operator locks out its crews

splash247.com
Australian supply chains are facing chaos as the nation’s largest tug boat operator has warned it will lock out its crews from Friday in the latest chapter of a bitter three-year pay dispute.
Maersk subsidiary Svitzer today gave notice of a lockout from Friday indefinitely to all harbour towage employees covered under its 2016 National Towage Enterprise Agreement and their union bargaining representatives, the Maritime Union of Australia (MUA), the Australian Institute of Marine and Power Engineers (AIMPE) and the Australian Maritime Officers Union (AMOU). Read more here.