Newsletter – November 9, 2023

AIR FREIGHT UPDATES

Jean-Claude Delen formally inducted into TIACA’s Hall of Fame

aircargoweek.com
The International Air Cargo Association (TIACA) formally inducted Jean-Claude Delen, former CEO BENELUX and France for DHL Global Forwarding and former President of FIATA into the Hall of Fame this week during the Executive Summit 2023. Read more here.

OCEAN FREIGHT UPDATES

East coast dockers’ union signals strike before contract talks start

theloadstar.com
Even before contract negotiations get under way, the threat of a strike shutting down US ports on the east and Gulf coasts next year is looming.
The International Longshoremen’s Association (ILA), which represents 45,000 dock workers at the ports, reaffirmed its commitment to strike if negotiations for a new labour contract do not reach a fruitful conclusion by 30 September 2024, when the current six-year agreement expires. Read more here (login required).

HMM workers protest against ‘hasty sale’ to ‘mid-sized concerns’

theloadstar.com
Fearing threats to their job security from a potential sale of HMM, carrier employees demonstrated outside the Korea Development Bank building in Seoul today.
The liner’s main shareholders, KDB and Korea Ocean Business Corp, representing the state’s interest, plan to sell a majority stake in HMM, as they feel it is time it was released from government support. Read more here (login required).

Hapag-Lloyd still making money, but faces challenges unless rates improve

theloadstar.com
Hapag-Lloyd managed to stay in the black in the third quarter, but CEO Rolf Habben Jansen warned that unless spot rates recovered quickly, the carrier faced “some challenging quarters in a subdued market environment”.
Indeed, based on its updated guidance for a full-year operating profit of between $2.4bn and $3.4bn, the German carrier could be trading in the red this quarter, based on the ebit achieved by the end of September, of $3bn. Read more here (login required).

CANADA BUSINESS – GOVERNMENT UPDATES

Chinese imports rise in October while exports fall for 6th straight month

apnews.com
BEIJING (AP) — China’s imports rose in October while exports fell for a sixth straight month compared with a year earlier in the latest evidence the world’s second largest economy remains in the doldrums.
Customs data released Tuesday showed imports climbed 3% from a year earlier to $218.3 billion, while exports fell 6.4% to $274.8 billion. The trade surplus of $56.5 billion was down more than 30% from $77.7 billion in September and was a 17-month low. Read more here.

HKIA makes strides on sea-air intermodal logistics park

aircargonews.net
At the end of last month (October), Airport Authority Hong Kong (AAHK) – operator of Hong Kong International Airport (HKIA) – signed an agreement with China’s Dongguan Port Group to establish a joint venture for the development of a novel sea-air intermodal transshipment facility.
HKIA Dongguan Logistics Park will be the world’s first sea-air intermodal transshipment site in which a logistics park is directly connected to an airport’s airside environment. Read more here.

Why shippers pick air or ocean – and it’s not always on price

theloadstar.com
Shippers have a particular set of criteria which determines whether to use sea or air; and price is not the key driver usually assumed.
According to Niall van de Wouw, head of airfreight for Xeneta, the price ratio between sea and air is less crucial than other concerns. Read more here (login required).