Newsletter – September 24, 2020

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    Sep

    Newsletter – September 24, 2020
    AIR FREIGHT UPDATES
    Could COVID-19 Testing Become Like Airport Security?
    simpleflying.com
    Rapid COVID testing is fast becoming the front runner for the key to unlocking international travel. In time, COVID testing at the airport could become as common as airport security. However, to achieve that, more international cooperation is needed. Read more here.
    IATA cargo chief Hughes takes buyout amid downsizing
    freightwaves.com
    The top cargo official at the International Air Transport Association (IATA) will exit early next year as part of a restructuring to reduce costs amid a global pandemic that has wrecked the finances of member airlines.
    IATA confirmed that Glyn Hughes, the global head of cargo, and Gordon Wright, in charge of cargo border management, have accepted voluntary separation packages and will depart at the end of January. Read more here.
    OCEAN FREIGHT UPDATES
    CMA CGM buys into French airline
    splash247.com
    Marseille-headquartered CMA CGM continues to diversify from its liner origins under the leadership of Rodolphe Saade.
    The company revealed yesterday it is buying a 30% stake in French airline company Groupe Dubreuil Aero. CMA CGM will acquire the EUR70m stake via a capital increase and acquisition of ordinary shares and will obtain two seats on the board of Dubreuil Aero. Read more here.
    Chinese container factories are now sold out until February
    freightwaves.com
    Watch the containers to see which way the economic winds will blow. How many are ordered, for when and for how much. And if you do, you’ll see that box demand is strong — not just through year-end, but into 2021.
    Three of the largest container-equipment lessors — Triton (NYSE: TRTN), Textainer (NYSE: TGH) and CAI International (CAI) — conducted virtual presentations for institutional investors over the past week, hosted by Keefe, Bruyette & Woods (KBW). Notes on those presentations provided to FreightWaves by KBW paint a rosy picture of consumer demand. Read more here.
    GROUND AND RAIL FREIGHT UPDATES
    US shippers feel the pain as rail and road freight rates soar
    theloadstar.com
    US importers and domestic shippers are facing more pain from increasing road and rail freight rates.
    The surge of imports that has flooded US west coast container gateways has so far failed to return intermodal volumes to last year’s levels, but rates have soared. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    ‘Landmark moment’: 156 countries agree to Covid vaccine allocation deal
    theguardian.com
    A coalition of 156 countries has agreed a “landmark” deal to enable the rapid and equitable global distribution of any new coronavirus vaccines to 3% of participating countries’ populations, to protect vulnerable healthcare systems, frontline health workers and those in social care settings. Read more here.
    UK government warns of looming freight and border chaos
    lloydsloadinglist.com
    Leaked UK government documents warn of weeks or months of freight and border disruptions and chaos from January, when the Britain’s transition period from leaving the EU ends, including queues of up to 7,000 lorries in Kent and two-day delays to cross into the European Union, unless there is urgent progress made in preparing for the looming changes to UK-EU trading arrangements. Read more here.

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