Newsletter – October 1, 2020

  • 01

    Oct

    Newsletter – October 1, 2020
    AIR FREIGHT UPDATES
    Cargo logjam hits Bangladesh exports after scanning failures at Dhaka Airport
    theloadstar.com
    Hazrat Shahjalal International Airport in Dhaka has been hit by significant export delays and congestion after five of its six x-ray cargo screening machines failed.
    Ove the past week, shipments faced several-day delays when technical problems stalled the screening process. Read more here.
    Retailers eye ocean and rail as air freight rates rise with Golden Week
    theloadstar.com
    Tomorrow marks the start of China’s Golden Week holiday and factory closures – which means air freight rates are expected to soar from the middle of the month, driving shippers to seek alternative modes.
    While the TAC Index (see below) is showing rates currently relatively stable, with slight rises into China, forwarders are reporting that air freight prices are on the increase again. Read more here.
    Air cargo capacity creeps up as carriers bring in more freighters
    theloadstar.com
    Air freight capacity is inching up, with several more freighters now in operation.
    According to Accenture Seabury capacity data, the first half of September saw capacity 23% below the same period of last year, up from 26% lower the previous fortnight. Read more here.
    OCEAN FREIGHT UPDATES
    ‘Strong Q3 performance’ expected from ocean carriers in a ‘fresh dynamic’
    theloadstar.com
    Analysts are expecting a “very strong performance” from the ocean carrier sector in the third quarter, prompting guidance upgrades for full-year earnings.
    “There is no doubt that the third quarter will be stronger than the second,” said Dan Togo Jensen, equity analyst, transport and energy at Carnegie Investment Bank. Read more here.
    CANADA BUSINESS – GOVERNMENT UPDATES
    North American supply chains are impacted by labor disruptions in Canada
    logisticsmgmt.com
    Following a strike by dockworkers that lasted for one month and paralyzed operations at the Port of Montreal in August and September of this year, Resilience360 research indicates that major ports both on the west and east coast of Canada continue to experience disruption ranging from port congestion to rail car shortages.
    “While the strike ended more than four weeks ago, ocean and rail dependent supply chain operations across Canada are unlikely to fully normalize before November 2020,” says Neža Kričaj, Supply Chain Risk Analyst, Resilience360. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    No let-up in cargo crime during pandemic, as gangs target PPE shipments
    theloadstar.com
    More than €85m-worth of products were stolen from supply chains in 46 countries in Europe, the Middle East and Africa in the first half of 2020.
    While TAPA noted that ad hoc thieves had been thwarted by global lockdowns, organised crime groups continued to operate and target specific goods such as PPE, food and drink. Read more here.
    The IMO becomes the latest high profile shipping name to be hacked
    splash247.com
    The International Maritime Organization (IMO), a fully fledged United Nations entity, has become the latest high profile shipping victim of a cyber attack.
    Splash reported yesterday how the IMO’s website was down with the agency at the time using social media to suggest the outage was down to “technical issues”. At 10.30am local time today, shipping’s governing body admitted it had been hacked. Read more here.

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