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Newsletter – November 6, 2020
AIR FREIGHT UPDATES
Expected November peak a new low for air freight as lockdowns shut shops
theloadstar.comLockdowns in Europe, forcing shops to close, have led to significant air freight cancellations as retailers re-think their supply chains.One European retail forwarder told The Loadstar he had seen thousands of cubic metres-worth of bookings cancelled in the past 72 hours as the second UK lockdown came into force today. Read more here.
OCEAN FREIGHT UPDATES
Double-whammy for shippers: record rates and surcharge surges
theloadstar.comWith shippers facing skyrocketing container freight rates and premium fees across main and secondary trades, ocean carriers are now pummelling their customers with a mass of equipment imbalance and intermodal surcharges.The strategy of carriers is to get as many boxes back to Asia in the shortest possible time to take advantage of exceptionally strong demand and record high rates, and to do so it is hitting shippers with extra costs. Read more here.
Zim adds 1,000 reefers
insidelogistics.caSINGAPORE – ZIM Integrated Shipping Services Ltd. is expanding its refrigerated shipping capabilities with 1,000 new reefer containers.The new, 40-foot high-cube containers will help the Haifa, Israel-based shipping line accommodate growth and boost its temperature-controlled capacity. Many of the new containers will ship highly temperature-sensitive perishable cargoes and high-value pharmaceutical products. Read more here.
Box ship sales, prices, charter market rates surge in Covid times
seanews.com.tr
SECONND containerships are again fetching high prices and charter rates have soared in a world roiled by the Covid crisis.Old panamaxes have seen record rates achieved, with one 5,000-TEU ship obtaining a US$25,000 per day, the highest level for this type of ship in nearly a decade. Read more here.
GROUND AND RAIL FREIGHT UPDATES
CN News: Temporary Reduction of Gate Activity at Brampton and Malport Terminals, Incentivizing Weekend Pickups
ciffa.comCN is experiencing higher-than-normal ground counts at its Brampton and Malport intermodal terminals as a result of a surge in imports and the residual effect of the vessel diversions due to the Port of Montreal work stoppage.These imports have led to a higher inventory of empties being returned to CN’s Mississauga (MISC) yard over the last few weeks. As a result, the yard is at capacity and, until Monday, November 16, CN will not accept any more empties at the facility. Out-gates at the yard will be open for customers who wish to pick up empties for exports.This plan will reduce gate activity at the yard, allowing operations to focus on the current inventory and to execute shuttle plans in order to bring ground counts back to normal levels.Further, CN encourages customers to leverage weekends to pick up their loads in order to mitigate elevated carter times. It is offering a rebate of $150 per day for a maximum of 7 days ($1,050) on any containers that have incurred storage if the unit is picked up between today at 20:00 and Monday, Nov. 9, at 04:00.
CANADA BUSINESS – GOVERNMENT UPDATES
GM Says Pickup Truck Production to Return to Oshawa Plant with New Unifor Deal
ctvnews.caGeneral Motors Corp. plans to reopen its Oshawa, Ont., assembly plant, invest up to $1.3 billion in the facility and hire up to 1,700 workers in a stunning reversal of fortune for an operation that had appeared to have fallen victim to the forces of supply chain economics. Read more here.