-
14
Dec
Newsletter – December 14, 2020
AIR FREIGHT UPDATES
Air Transat Expects Air Canada Acquisition Completion By February
simpleflying.comAir Transat has shared this week that it expects that the airline’s acquisition by Air Canada will be complete by February. The Montreal-based carrier is hopeful about the transaction but is waiting for authorities to confirm approval. Read more here.
London Heathrow’s Terminal 4 To Remain Shut Through 2021
simpleflying.comAfter seeing no increase in the number of people traveling and recovery not expected anytime soon, Heathrow Airport Holdings Limited (formerly BAA) has decided to keep London Heathrow Airports Terminal 4 closed until the end of 2021. The news issued in a press release on Friday also mentioned that Boris Johnsons’ government’s decision to bring about the end of tax-free shopping could be “the final nail in the coffin for struggling businesses.” Read more here.
OCEAN FREIGHT UPDATES
Maersk and ONE have to decline bookings in Asia due to overheated market
shippingwatch.comFrench container line CMA CGM is not the only carrier that has had to decline booking requests out of Asia in the overheated container market. Maersk and ONE both tell ShippingWatch that they have had to decline some of the inquiries they have received. Meanwhile, Germany’s Hapag-Lloyd calls the situation normal. Read more here (login required).
Port of Long Beach goes on the record with another No. 1
freightwaves.comThe Port of Long Beach on Wednesday joined the lengthening list of record setters by announcing it had marked its best November ever.The Georgia and South Carolina ports authorities earlier this week separately announced they both had celebrated record-setting months. Read more here.
$4,000/FEU ‘becoming the new normal’ out of Asia
lloydsloadinglist.comSpot rates of $4,000 per FEU are “becoming the new normal” for most major container shipping lanes out of Asia, according to the latest pricing update from digital freight rates specialist Freightos. Read more here.
GROUND AND RAIL FREIGHT UPDATES
US-Canada-Mexico border closures extend to Jan. 21
freightwaves.comThe U.S. land borders with Canada and Mexico will remain closed for nonessential travel until at least late January, officials said on Friday, as the coming arrival of COVID-19 vaccines opened the door for the eventual easing to the unprecedented restrictions.The extension was expected as COVID-19 infections surge in all three countries. Trucks will continue to be able to move freight freely across the borders under the terms of the restrictions, in place since March. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
First COVID-19 vaccine shipment lands in Canada
freightwaves.comThe first shipment of the Pfizer-BioNTech COVID-19 vaccines landed in Canada on Sunday night, coming via a UPS plane.Prime Minister Justin Trudeau announced the arrival of vaccines in a tweet. It came on the same day as the vaccines started shipping from Pfizer in the U.S. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
China’s exports soar, but demand slowdown predicted in 2021
lloydsloadinglist.comChina’s exports continued to surge in November putting even more pressure on freight markets. However, analysts expect demand to start slowing next year as consumption habits revert to more normal patterns.China reported 21.1% export growth in US dollar terms last month, the fastest recorded this year and up from 11.4% in October. Exports to the EU and the US drove the expansion, rising 25.9% and 45.5%, year on year, respectively. Read more here.
Flow of US imports continues to surge – now at twice the rate of exportstheloadstar.comWith no let-up in consumer demand, container imports into the 10 largest US ports soared by 25% last month, compared with the previous year.And with the forward booking visibility of transpacific carriers indicating that the US import boom is set to continue to at least the Chinese New Year in February, import throughput is likely to stay high. Read more here (login required).