Newsletter – June 25, 2020

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    Newsletter – June 25, 2020
    OCEAN FREIGHT UPDATES
    Carrier capacity cuts send trans-Pacific rates into orbit
    freightwaves.com
    There’s an old adage: “Forecasting is the art of saying what will happen and then explaining why it didn’t.”
    Remember those dire warnings that ocean carriers could suffer catastrophic losses and go bankrupt en masse, crippling the global container-transport system? Today, carriers are obtaining very high spot rates on the China-to-West Coast route — and could theoretically end the year with big profits. Read more here.
    Port of Los Angeles needs to refocus as lost trade war volumes ‘won’t return’
    theloadstar.com
    The port of Los Angeles will suffer “permanent” volume losses from the trade war with China, says its executive director, Gene Seroka.
    The ex-APL shipping veteran slammed the tariffs on Chinese imports and warned that the western hemisphere’s largest container port would need to reinvent itself. Read more here.
    More transatlantic blankings are unveiled as a new trade war threatens
    theloadstar.com
    2M partners Maersk and MSC have extended the suspension of their TA4/NEUATL4 transatlantic loop through to September.
    The service, which deploys five vessels with an average capacity of 5,300 teu and has a rotation of Antwerp-Rotterdam-Bremerhaven-Liverpool-New York-Savannah-Port Everglades-Savannah, was originally suspended until mid-June and to mid-July. Read more here.
    Port of Nansha grows as ocean alliances call and intra-Asia services boom
    theloadstar.com
    The port of Nansha at Guangzhou is bucking the downturn trend among container terminals this year, and looks to emerge as the big winner from the Pearl River Delta’s evolution into the Greater Bay Area.
    For example, while other Chinese terminals were suffering in the coronavirus shutdown, Nansha clocked up a 30% increase in Q1 exports to Europe. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    China’s Virus-Safety Demand Is Latest Hurdle to Trade Deal
    ttnews.com
    The U.S.-China trade deal has just suffered a new setback.

    China wants international shippers of meat and soybeans to sign a document attesting their cargoes meet safety standards to ensure they aren’t contaminated with the novel coronavirus.  Read more here.

    Cost pressure rises for parcel carriers alongside booming consumer demand
    theloadstar.com
    The parcel industry has been turbo-charged by the Covid-19 pandemic, but is now feeling some pain in response to the massive boom in traffic.
    “In the past two weeks we carried over two million parcels – a higher volume than in previous peaks,” Gilles Fernandez, sales director, mail & parcels at AN Post, told a Post & Parcel online conference last week. Read more here.

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