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Newsletter – September 11, 2018
AIR FREIGHT UPDATES
Air freight peak season takes off, with the transpacific off to a strong starttheloadstar.co.ukPeak season has hit the transpacific air freight sector, with forwarders reporting increased rates and tight capacity.“The US market is booming, air freight rates have increased and space is tight,” said one Asian forwarder. Read more here (login required)
OCEAN FREIGHT UPDATES
CMA CGM reports near 90% profit slumplloydsloadinglist.comCMA CGM saw net profit fall by nearly 90% in the second quarter adding to the subdued performance among container shipping’s elite in the reporting period.The French carrier’s financial results, like those it followed in the liner industry, were weighed by a weak freight rate environment over the quarter and hit hard by spiralling bunker costs, up nearly 30% against last year. Read more here.
Congestion triggers liner surcharge for Lisbonlloydsloadinglist.comPort congestion at Lisbon has caused container shipping group CMA CGM to introduce an Emergency Port Congestion surcharge (PCS) of €140 per TEU for export shipments from Lisbon. Read more here.
TT Club says still more needs to be done to ensure container safetytheloadstar.co.ukAs the IMO’s sub-committee on Carriage of Cargoes and Containers meets in London this week, TT Club is demanding urgent action on container safety.The major problem is mis-declared dangerous goods, it says, and suggests it leads to a major container fire every 60 days on average. Read more here.
GROUND & RAIL FREIGHT UPDATES
CP brings together short line and regional connections to strengthen relationshipscanadianshipper.comCalgary, AB — Canadian Pacific Railway and its short line and regional railroad connections met over two days to discuss shared opportunities for moving the North American supply chain forward, as part of CP Reconnect 2018 Short Line and Regional Railroad Conference. Read more here.