Newsletter – August 14, 2020

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    Aug

    Newsletter – August 14, 2020
    AIR FREIGHT UPDATES
    Hong Kong air cargo down 7.3% in July

    lloydsloadinglist.com

    Hong Kong International Airport (HKIA) handled 372,000 tonnes of cargo traffic last month, down 7.3% on July last year.

    “Cargo throughput to and from Southeast Asia, Mainland China and Europe experienced the most significant decreases. Read more here.

    OCEAN FREIGHT UPDATES
    Chinese authorities investigate liners as transpacific rates hit record territory
    splash247.com
    China’s Ministry of Transport has sent letters to six major containerlines, asking them for explanations behind the recent freight rate surges, which has seen ships charging record figures on the transpacific.
    The six companies questioned are Cosco, Maersk, MSC, CMA CGM, Hapag Lloyd and Evergreen. Read more here.
    Charter market for larger boxships is ‘virtually sold out’
    theloadstar.com
    A key indicator of the health of the container shipping industry, Alphaliner’s fortnightly idle tonnage report, has recorded a further sharp drop in inactive capacity.
    As of 3 August, another 49 ships, with a total capacity of 350,000 teu, had found employment during the two-week period, taking the idle fleet to 264 vessels for 1.2m teu, representing 5.1% of the global fleet. Read more here.
    Hapag Lloyd sees Q2 earnings surge 100%
    lloydsloadinglist.com
    Hapag Lloyd’s profits surged during the second quarter as the German container shipping line benefited from higher freight rates and lower fuel costs even as volumes declined due to coronavirus lockdowns.
    After seeing earnings before interest and taxes (EBIT) drop 25.2% year-on-year to €160 million ($189million) in the first quarter of 2020, its second quarter EBIT jumped 100.6% compared to a year earlier to reach €351 million. Read more here.
    Yang Ming box business sails into black, but ailing bulk unit sinks group profits
    theloadstar.com
    Yang Ming’s box business swung into the black in the second quarter, contributing a profit of $18.6m despite a 15% reduction in container liftings.
    However, the Taiwanese transport group’s aspirations for profitability were thwarted by a $21m loss in its dry bulk sector, bringing a consolidated net loss of $2.25m in the quarter. Read more here.
    CANADA BUSINESS – GOVERNMENT UPDATES
    Air Canada Cargo signs up to combat illegal wildlife trafficking
    aircargonews.net
    Air Canada Cargo has become the latest airline to sign up to the United for Wildlife (UFW) Buckingham Palace Declaration that aims to combat the illegal trade in wildlife.
    By signing up to the declaration, companies aim to increase passenger, customer, client, and staff awareness about the nature, scale, and consequences of the illegal wildlife trade. Read more here.

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