Newsletter – November 30, 2018

AIR FREIGHT UPDATES

Airfreight rates reach high for the year in October

aircargonews.net
Airfreight rates reached their highest level of the year in October and are expected to climb further as the peak season gets underway.
The latest figures from consultant Drewry in its Sea & Air Shipper Insight report show that average rates on 57 key trades reached $3.02 per kg in October compared with $2.81 per kg in September. Meanwhile, prices are up 8.6% year on year. Read more here. 

OCEAN FREIGHT UPDATES

Ocean Network Express CEO admits what went wrong and unveils recovery strategy

theloadstar.co.uk
The Ocean Network Express (ONE) management “underestimated the initial launch resource requirement” in April, resulting in a significant loss of business and a $400m impact on its bottom line. Read more here. 

Norden trials used vegetable oil as fuel

splash247.com
Denmark’s Norden has becomed the latest shipowner to offer clients shipmentes powered by vegetable oil.  Read more here. 

HMM aims for 7% market share on main east-west container tradelanes by 2021

splash247.com
In a remarkably bullish two-page press release issued today South Korean flagship HMM has claimed it will have a 7% market share on the main est-west container tradelanes by 2021.  Read more here. 

GROUND AND RAIL FREIGHT UPDATES

CN’s Ruest Named Railroader of the Year

cn.ca
MONTREAL, Nov. 26, 2018 (GLOBE NEWSWIRE) — Today, Railway Age announced that the 56th annual recipient of the Railroader of the Year Award is CN President and Chief Executive Officer Jean-Jacques “JJ” Ruest, leader of one of North America’s best-performing Class I railroads.  Read more here. 

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Trump’s Threats to Close the Border Add Thousands to Shipping Costs

ajot.com
The traffic is moving again at San Ysidro, one of the busiest border crossings in the world.
That doesn’t mean businesses here in Tijuana are resting easy. They’re plotting alternate routes and speeding up shipments from factories that produce everything from semiconductors to pacemakers to seat belts. Read more here.