Newsletter – November 3, 2020

  • 03

    Nov

    Newsletter – November 3, 2020
    AIR FREIGHT UPDATES
    Air freight charter prices soar towards record highs
    lloydsloadinglist.com
    Freighter charter rates are increasing week on week and are already nearing their pre-summer levels, when COVID-19 cases in Europe were at their height, with a second wave potentially adding to the peak-season capacity crunch, senior charter broker warns. Read more here.

    Air Canada Rouge Resumes Operations
    simpleflying.com
    After months of hibernation, a downsized Air Canada Rouge is back in the skies. The now all-narrowbody leisure airline resumed operations with an A321 service from Toronto to Cancun on Monday morning. Read more here.
    Covid crisis steering more carriers toward air cargo booking platforms
    theloadstar.com
    Airlines are increasingly signing up to third-party booking platforms – with IAG Cargo the latest to opt for another distribution channel.
    Rarely, however, it has chosen IATA’s Net Rates platform – recently launched in South Africa and set to roll-out globally soon – only Qatar Airways is known to have signed up to it so far. Read more here.
    OCEAN FREIGHT UPDATES
    Shippers hit lack of port workers and containers as lines add congestion surcharges
    theloadstar.com
    Shippers around the world face huge supply chain challenges from port congestion and an acute shortage of containers.
    And one carrier source The Loadstar spoke to today said the problems “will get worse”.  Read more here.
    Cosco confirms more super-sized boxship orders
    lloydsloadinglist.com
    COSCO Shipping has confirmed orders for seven 23,000 teu containerships worth $1.1bn in total.
    Orient Overseas International Ltd signed the shipbuilding agreements on Friday (October 30) with two Chinese yards, said its Shanghai-and Hong Kong-listed parent Cosco Shipping Holdings. Read more here.
    FP2: MV ONE AQUILA 0011E/W – Delay
    source: yangming.com
    Update Nov 3, 2020 – 9:35 am EST
    As per our Customer Advisory dated October 30, 2020, MV ONE AQUILA suffered collapsed containers due to severe weather conditions while the vessel was enroute to her next port of call, Long Beach.
    Considering the vessel situation and various factors, the latest plan for the vessel is to divert to the port of Tacoma to do her survey and re-work of the collapsed containers, subject to authorities’ approval.  Currently, the vessel is proceeding to the Port of Tacoma, with ETA 6 November.
    This is only the interim report of the progress and YMA will be advising all customers regarding those plans as they are concluded in due course.
    We regret the inconvenience caused and thank you for your understanding in this regard. Should you have any questions or concerns, please contact your sales account representative for additional information.
    Deep water berth extension at Port of Halifax fully operational
    Halifax, NS – The South End Container Terminal extension at the Port of Halifax is now complete and is fully operational. The first vessel to call on this expanded piece of critical infrastructure, operated by PSA Halifax, is the Zim Tarragona which arrived on October 23, 2020. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    Executives better get used to handling political risk no matter who wins the U.S. election
    financialpost.com
    Much of the Canadian analysis of the Nov. 3 vote in the United States would have made a former editor-in-chief crazy. He had banned the use of the word “but” in all stories, yet for Canada’s pundits, it’s the “yes, but” election.
    Yes, American voters seem “tantalizingly close” to replacing President Donald Trump, “but Canada will be tested no matter which candidate wins the coming presidential election,” Roland Paris, a former adviser to Prime Minister Justin Trudeau who now teaches international affairs at the University of Ottawa, said in the Globe and Mail on Oct. 24. Read more here.
    The 2020 Holiday Season Logistics Hiring Boom
    forbes.com
    It is the day after Halloween; what are retailers thinking about? The Holiday selling season of course. Actually, it has already kicked off. Amazon delayed its annual sales extravaganza this year because of the coronavirus pandemic, moving it from its typical July date to October. Amazon Prime Day kicked off what will surely be a wild 2020 holiday season. Read more here.

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