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Newsletter – December 29, 2020
AIR FREIGHT UPDATES
TSA to propose scan-all alternative for air cargo security
freightwaves.comUPS, Atlas Air say substantial costs of explosives screening systems not justified by huge cost of mandatory inspectionsThe Transportation Security Administration will unveil how it plans to meet new international requirements for screening 100% of exports on freighter aircraft during a meeting next month with e-commerce shippers and logistics providers. Read more here.
OCEAN FREIGHT UPDATES
Top stories of 2020: Inside ocean shipping’s wild ride
freightwaves.comIn 2020, virtually nothing turned out as predicted for container and tanker shippingA year ago, shipping experts unveiled their projections for 2020. Little did they know how short their forecasts’ shelf lives would be. Pre-COVID outlooks were practically worthless by February. Read more here.
Why the feared IMO 2020 spillover effect on diesel markets didn’t happen
freightwaves.comPlenty of distillate molecules to go around plus no collapse in high sulfur reversed all conventional wisdom, Morningstar saysA year ago, as 2020 dawned, the trucking industry was eyeing a marine fuel regulation that it feared could spill over into diesel markets, boosting the price of that fuel. Read more here.
Rates and recovery
insidelogistics.caOcean carriers surge, seaway to followIn the ocean freight world, volumes started to decline in April-May, as world economies went into lockdown and volumes decreased accordingly. Ocean rates should have gone down as well, with carriers competing for smaller volumes, but instead, rates stayed at the same level and even increased on some lanes, as carriers worked together to reduce supply. Read more here.
GROUND & RAIL FREIGHT UPDATES
Diesel price up eighth straight week; signs of weakness in commodity market
freightwaves.comFinal DOE/EIA diesel price shows more than 44-cent drop from first price of 2020The Department of Energy and its Energy Information Administration posted the final average weekly retail diesel price for 2020, with the important benchmark rising for the eighth consecutive week. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
UK logistics industry welcomes Brexit trade deal
lloydsloadinglist.comThe logistics industry has welcomed the signing of a Brexit trade deal between the UK and the EU while highlighting the changes that lie ahead from the beginning of next year and the need to be fully prepared. Read more here.