Newsletter – July 6, 2021

AIR FREIGHT UPDATES

Porter Airlines Confident It Will Finally Return In September

simpleflying.com
After several false starts, Canada’s Porter Airlines is now targeting a September flight resumption date. Porter Airlines suspended its flights in March 2020. Since then, 11 tentative restart dates have come and gone at Porter Airlines. Will 12 prove to be the lucky number? Read more here.

Air Canada Flies Its 10,000th Cargo-Only Flight Since Start Of Crisis

simpleflying.com
Canada’s flag carrier has completed a milestone of 10,000 cargo-only flights since the start of the pandemic. As the carrier was hampered by the overall reduced travel demand environment, coupled with travel restrictions in effect, it moved over to start flying cargo in the early days of the crisis. In fact, the airline has gone very far in its cargo-only flights, including removing seats on several aircraft to create more cargo capacity on its widebody jets, and is preparing to induct dedicated freighter aircraft this fall. Read more here.

OCEAN FREIGHT UPDATES

Port of Vancouver Operations Update

ciffa.com
All rail service into and out of the Port of Vancouver has been halted as a result of the B.C. wildfires. Currently, there are a large number of trains waiting to arrive at the port. Both CN and CP Rail are working closely with Transport Canada and onsite inspectors to determine the necessary steps to resume safe rail operations.
With rail impacts on terminal operations, vessel delays and heightened anchorage demand are expected. The port is working closely with its container terminal operators, railways, and government to understand the impacts of these delays on terminal operations and to develop a recovery plan.
Real-time insights into Port of Vancouver operations can be accessed through the PortVan eHub app, which can be downloaded at www.portvancouver.com/port-dashboard/ehub-app or through the App Store (search for PortVan eHub or Port of Vancouver). Additionally, daily updates on import rail performance and weekly updates on truck terminal turn time performance are available through the port’s website at www.portvancouver.com/port-dashboard.

Tanker rebound on hold as OPEC+ fails to strike new output deal

splash247.com
Tanker players have been left hanging again after OPEC+ abandoned its meeting without a deal to increase oil output from August.
With rates well below breakeven, the new OPEC+ deal and a potential lift of sanctions on Iran were seen as a lifeline for tankers to finally get back in the black. Read more here.

Liners on track to secure up to $100bn profit this year

slash247.com
Drewry’s latest Container Forecaster report has carried out a massive upgrade of liner profits for the full year.
Drewry is now forecasting the container shipping industry will post a record $80bn profit in 2021, up from earlier forecasts of $35bn. If freight rates surpass expectations in the remainder of the year, Drewry said an annual profit line in the region of $100bn is not out of the question, more than three times the all-time liner record. Read more here.

GROUND AND RAIL FREIGHT UPDATES

CP Customer Advisory: Service Interruption – B.C. Interior Fires

ciffa.com
CP’s main line operations in B.C. are shut down due to wild fires.
CP teams are on site and supporting local authorities. Crews have inspected the tracks, and crews and materials have been mobilized to conduct repair work as soon as it is safe to do so.
Customers should continue to expect delays.
Given the operational impairments, CP has issued embargoes for the B.C. interior to manage the traffic into the area.