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30
Sep
Newsletter – September 30, 2020
AIR FREIGHT UPDATES
IATA: Slow improvement in air cargo demand in August
aircargonews.net
The latest statistics from IATA show that air cargo volumes are improving only slowly despite a pick up in business indicators.
According to the airline association, air cargo volumes in cargo tonne kms (CTK) declined by 12.6% year on year in August, which is a slight improvement on the 14.4% decline registered in July, but is slower than some of the traditional leading indicators would suggest. Read more here.
OCEAN FREIGHT UPDATES
CMA CGM gets back to work after ransomware attack
splash247.com
CMA CGM has spent the past 24 hours trying to reassure clients that operations are carrying on and the worst effects from its ransomware attack over the past three days are over.
The French carrier became the latest big name in container shipping to reveal it had been hacked on Monday, following other leading liners including Maersk, MSC and Cosco in recent years. Read more here.
Shippers face ‘transformation of rate conditions in container shipping’
lloydsloadinglist.com
Beneficial cargo owners (BCOs) should start to budget for higher contract rates on most routes in 2021, according to container shipping analysts Drewry, which believes the recent exceptional freight rate levels on the transpacific market could signal a sea-change in contract rate pricing. Read more here.
Caught in the Middle: Storage and Demurrage Charges
forwarderlaw.com
In spite of global supply chain interruptions caused by COVID-19, carriers and terminals have largely continued to impose tariff charges for storage, detention, and demurrage of containers.
While the pandemic may have exacerbated these issues, the problem of being stuck between carriers and customers facing demands for detention and demurrage is a perennial problem for freight forwarders. Read more here.
Transpacific capacity at an all-time high
splash247.com
Average weekly capacity on the transpacific has reached another record level of 530,000 teu according to data from Alphaliner this week as Chinese exports peak before the Golden Week Holiday, starting tomorrow.
Both Cosco and Wan Hai have added extra services on the booming tradelane, where rates to the west coast have been hitting record high levels for much of the month. Read more here.
Yang Ming chairman Bronson Hsieh retires
splash247.com
Taiwanese shipping line Yang Ming Marine Transport has appointed Cheng Cheng-mount as its new chairman, replacing Bronson Hsieh who has retired.
One of the best known Asian names in container shipping, Hsieh is a shipping veteran in Taiwan, having served Evergreen Group as vice chairman before joining Yang Ming as chairman in 2016. Read more here.
Congestion challenges continue at Felixstowe
lloydsloadinglist.com
The UK’s busiest container port, Felixstowe, is continuing to experience significant landside congestion challenges, with its container yard ”at a high density” amid ”a very high demand for road and rail capacity”. Read more here.