Newsletter – November 30, 2023

AIR FREIGHT UPDATES

Shippers beware: new rules on lithium ion battery air shipments coming
theloadstar.com
At the recent meeting of the International Civil Aviation Organization (ICAO) dangerous goods panel, it was agreed to introduce a State of Charge (SoC) requirement of 30% for more categories of lithium ion batteries being transported by air.
This change will apply to lithium ion batteries packed with equipment – where a device has its battery packed in the same box. Currently the SoC requirement only applies to lithium ion batteries shipped by air on their own by air. Read more here (login required).

Rates continue to rise in November despite muted demand
aircargonews.net
Airfreight rates on major east-west trade lanes continued to pick up in November as weather conditions, e-commerce demand and capacity constraints helped push up prices (see dashboard at end of article).
The latest figures from the Baltic Exchange Airfreight Index (BAI) – taking into account both spot and contract rates – show that in November forwarders paid an average of $6.15 per kg on services from Hong Kong to North America, up from $5.80 per kg in October. Read more here.

OCEAN FREIGHT UPDATES

Julie Gascon appointed President and Chief Executive Officer of the Montreal Port Authority
newswire.ca
The Montreal Port Authority (MPA) announces the appointment of Julie Gascon to the position of President and CEO. With her proven track record in the marine industry, Ms. Julie Gascon will bring in-depth knowledge of operations in the transportation sector to the entire Port of Montreal ecosystem and put her entrepreneurial know-how to work in implementing the 2023–2027 strategic plan. Read more here.

Box lines plot a course for Indian trades as the economy grows
theloadstar.com
Container lines – trying to weather demand downturns in traditional or high-volume markets – are pouring more tonnage into Indian trades, as the emerging economy is forecast to grow faster than its larger counterparts, notably China.
India-US trade seems to be a big bet in the capacity rationalisation game, as carriers expect a trade boost from diversifying supply chain patterns in the Asian region. Read more here (login required).

Maersk sails into the charter market as it prepares for independence
theloadstar.com
Maersk is preparing for an early termination of its 2M partnership with MSC by reinforcing its fleet, most recently fixing two 13,100 teu charters.
The carrier has agreed with non-operating shipowner Danaos to take charge of 2012-built 13,082 teu sister ships Hyundai Ambition and Hyundai Speed for 34 months from next June, at a daily hire rate of $51,500. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Not the start of the decline of globalisation – just of China’s dominance
theloadstar.com
Determined to have his FDR moment, Joe Biden’s latest policy seems likely to have put the frighteners on China, amid what experts are describing as a fundamental reworking of global supply chains and international trade.
Launched on Tuesday, the White House Council on Supply Chain Resilience is central to the Biden administration’s efforts to strengthen both the US economy and its manufacturing capacity. Read more here (login required).