Newsletter – June 16, 2021

AIR FREIGHT UPDATES

First Air Canada freighter routes include Miami, Mexico and S. America

freightwaves.com
Air Canada (TSX: AC) on Monday announced the initial routes it plans to operate this fall when its first pure freighter converted from a passenger aircraft enters service. The news is the outcome of a major strategic decision to more aggressively pursue cargo business with dedicated aircraft.
The carrier said the remodeled Boeing 767-300 Extended Range jet will begin commercial flights in October with routes connecting Toronto to Miami; Quito, Ecuador; Lima, Peru; Mexico City; and Guadalajara. Read more here.

Thai Airways CEO Resigns As Court Approves Rehabilitation Plan

simpleflying.com
Three Directors and the Acting Chief Executive Officer of Thai Airways have resigned one day after Bangkok’s Central Bankruptcy Court approved the airline’s rehabilitation plan to restructure its debt and return to profitability.
While the rehabilitation plan enjoyed the backing of around 92% of creditors, the court still needed to sign off on the plan. Last-minute objections from two large creditors in May delayed the court hearing until Tuesday. The airline owes creditors US$12.86 billion. Read more here.

OCEAN FREIGHT UPDATES

Yantian port logjam eases and ‘normal service will resume this month’

theloadstar.com
Yantian International Container Terminal (YICT) has informed customers that the bottleneck at the port had eased, and normal operations would resume by the end of the month.
Following a Covid-19 outbreak in the port area and nearby Guangzhou in late May, YICT’s operations were disrupted by prevention and restriction measures. Read more here (login required).

1 month, 1 million-plus containers at Port of LA

freightwaves.com
The Port of Los Angeles announced Tuesday that it had earned the distinction as the first port in the Western Hemisphere to handle more than 1 million twenty-foot equivalent units (TEUs) in a single month.
May was the busiest month in the 114-year history of the United States’ busiest port. The Port of LA moved a total of 1,012,248 TEUs, up 74% from May 2020, when COVID-19 had stalled global trade. Read more here.

MSC’s secondhand splurge over the past 10 months hits record 60 ships

splash247.com
The Soren Toft-led company has paid Eastern Pacific Shipping $42.5m for the 5,018 teu Kowloon Bay boxship, according to multiple broker reports. This sale comes alongside other recent purchases including the 4,250 teu Alabama, the 3,534 teu Songa Haydn, the 2,564 teu City of Hong Kong and the 2,492 teu Oregon Trader, taking the number of ships MSC has bought since August last year to 60, according to statistics from Alphaliner. Read more here.

Congress discusses forcing liners to accept US export container bookings

splash247.com
American politicians are discussing taking drastic action to force global liners to take all US export container bookings.
A Republican and a Democrat have pitched the idea to the US House Transportation & Infrastructure Committee, claiming yesterday American exporters are being discriminated by carriers who are rushing to send their empty boxes back to Asia rather than wait for American exporters – led by the agricultural community – to fill them up. Read more here.

Panama Canal to allow larger vessels to transit

splash247.com
The Panama Canal has increased the maximum allowable length for commercial and non-commercial vessels transiting the neopanamax locks to 370.33 m, up from 367.28 m. The increase means that 96.8% of the world’s fleet of containerships can now transit the canal. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

US Pursues $25 Million Fine Against Air Canada Over Refunds

simpleflying.com
The United States Department of Transportation (DOT) is pursuing a fine against Air Canada. Seeking a civil penalty of over $25.5 million, the airline is accused of failing to provide refunds in a timely manner, leading to a high volume of customer complaints. Read more here.