Newsletter – October 12, 2023

AIR FREIGHT UPDATES

Requests for air charters on the rise as scheduled carriers divert from Israel

theloadstar.com
The conflict in Israel is expected to spark changes in the airfreight market – the breadth of which will likely depend on how wide the conflict spreads.
Charter brokers have already reported a series of requests, which are becoming increasingly harder to fulfil, as scheduled airlines suspend services to Tel Aviv. BA has said it will cancel services for three weeks, while Turkish also confirmed it was not operating to Israel. Read more here (login required).

Are recent air cargo improvements the start of a full market recovery?

aircargonews.net
There is no doubt that the air cargo industry has seen some improvement over the last few weeks but there is debate over whether this represents the start of a full recovery for the market.
The latest rate figures indicate a tightening of supply and demand with last week’s numbers from the Baltic Exchange Airfreight Index (BAI) based on TAC Index data showing an increase. Read more here.

Heathrow cargo tunnel set to re-open

aircargonews.net
The Heathrow cargo tunnel that has been closed over recent days is expected to re-open on October 5.
The tunnel connecting to terminal four (T4) was closed on October 2 due to a “life safety issue”, causing airlines to warn of potential delays and re-routing of cargo. Read more here.

OCEAN FREIGHT UPDATES

Liners wait anxiously on Washington’s reaction as EU drops antitrust exemption

splash247.com
Liner companies are now watching carefully to see if the Federal Maritime Commission (FMC) in Washington DC will follow the lead taken by the European Commission when it comes to container shipping and antitrust rules.
Yesterday’s announcement from Brussels not to extend the European Union’s legal framework which exempts liner shipping consortia from EU antitrust rules has sent shockwaves throughout global supply chains. Read more here.

Zim offers its ‘ships and infrastructure’ to support Israel

theloadstar.com
Zim has warned customers of possible short-notice service interruptions as result of shifting guidelines from Israeli authorities following renewed violence in the region.
It said it aimed to provide “all required services”, and the Israeli carrier added that currently services were running without interruption, as around “90% of our operations are outside of Israel”. Read more here (login required).

CMA CGM invests $600m to boost its ‘under-utilised’ NY/NJ box terminals

theloadstar.com
CMA CGM is pumping $600m into its recently acquired New York and New Jersey terminal operation as it looks to boost capacity by some 80%.
Announcing the investment, less than two months after purchasing the Bayonne and New York terminals, the company said the development was being run in “close partnership” with the states of New Jersey and New York. Read more here (login required).

CANADA BUSINESS – GOVERNMENT UPDATES

Air Canada Faces Negligence Accusations Over $20M Gold Theft From Cargo Warehouse
simpleflying.com
Details from the lawsuit against Air Canada regarding a massive gold and cash theft reveal how the items went to the wrong hands due to lapses in security protocols. The airline has been accused of negligence in the way it handled the precious cargo and is staring at a lawsuit worth millions of dollars. Read more here.