Newsletter- August 15, 2022

AIR FREIGHT UPDATES

Air Canada shows big ambitions for all-cargo venture

freightwaves.com
Air Canada isn’t just testing the waters for a stand-alone freighter division — it’s jumping in with both feet.
The carrier was one of the first to harness the revenue opportunity from cargo-only passenger aircraft when the pandemic knocked out regular travel business and discovered there is strong demand for additional cargo lift into the Canadian market. Read more here.

Hong Kong Slips From Top 10 As Singapore Changi Becomes Asia’s Busiest Airport

simpleflying.com
The COVID pandemic affected nearly all aspects of commercial aviation drastically. But for some, the fall has been far greater than others. Hong Kong International Airport was the busiest hub in Asia pre-pandemic, but the story couldn’t be more different today as other airports in the region, including Delhi and Kuala Lumpur, are now handling more passengers than Hong Kong. Read more here.

OCEAN FREIGHT UPDATES

Hapag-Lloyd CEO: US consumer still ‘holding up,’ demand not collapsing

freightwaves.com
The container shipping outlook from Hapag-Lloyd, the world’s fifth-largest liner company: Demand is moderating, spot freight rates should keep ticking lower, and congestion — currently very high — should abate. But demand is not collapsing. Congestion in some regions, such as the U.S. East Coast, is more stubborn than in others. And higher contract rates will offset spot rate declines, leading to near-record second-half profits. Read more here.

Tax contributions from liner billionaires questioned

splash247.com
The issue of liner shipping and taxation is once again in the news during a record Q2 earnings season for global carriers.
This month has seen Maersk post profits of $8.6bn and Hapag-Lloyd report a EUR8.7bn ($8.94bn) profit amid a host of spectacular results that are seeing some politicians question whether carriers ought to be contributing more to state coffers. Read more here.

ZIM invests in tracking solutions firm

splash247.com
Israeli carrier ZIM has invested $5.5m in compatriot tracking solutions provider Hoopo Systems.
Established in 2017, Hoopo provides asset and fleet visibility solutions, working on transforming unpowered assets into connected fleets to help businesses track and manage their operations, inventory, and equipment by providing real-time data and analytics. Read more here.

Rhine closes to barge traffic, with water depth set to hit record lows

theloadstar.com
Low water levels resulting from a lengthy heatwave across Europe have forced the closure of the Rhine for the first time in four years.
Closure of the German waterway was announced late on Friday as water levels on the Kaub gauge hit 37cm – 41cm is necessary for operations, albeit at reduced loads, and many operators have been many running  barge services at 20% capacity. Read more here.

Maersk ship resumes service after collision

container-news.com
A container ship chartered by Maersk Line has resumed its voyage after colliding with a general cargo ship.
In the early-morning accident on 7 August, the 2,824 TEU BF Tiger, chartered from Fooroohari Schiffahrts, was underway from Qingdao to Hong Kong when it collided with a Chinese domestic general cargo ship, Xinghang 48. The impact caused Xinghang 48 to sink, sending all its four crew members falling into the water. Three of the seafarers were rescued but one remains missing. Read more here.