Newsletter – March 25, 2021

AIR FREIGHT UPDATES

IATA Launches EPIC to Enhance Digital Collaboration Across Air Cargo

iata.org
Geneva – The International Air Transport Association (IATA) today announced the launch of the IATA Enhanced Partner Identification and Connectivity (EPIC) platform to support the digitization of the global air cargo supply chain. EPIC simplifies the complex process of making digital connections across the air cargo value chain including enabling the efficient exchange of critical information such as messaging capabilities and identities. Read more here.

OCEAN FREIGHT UPDATES

Suez Canal Blocked by Stranded Evergreen Boxship

splash247.com
An ultra large container ship operated by Evergreen ran aground on the Suez Canal on Tuesday, blocking traffic on one of the world’s most important waterways.
A picture taken by crew onboard another ship in the canal, the Maersk Denver, shows the 2018-built 20,388 teu Ever Given, which was en route from Shenzhen to Rotterdam, blocking the canal in both directions after it got stuck near the Red Sea entrance of the canal yesterday morning. Read more here.

Chittagong port demands importers clear dangerous goods stored in its yards

theloadstar.com
Bangladesh’s Chittagong Port Authority (CPA) is set to quadruple storage charges for dangerous goods (DG) containers.
The aim is to encourage DG importers to clear their cargo while the port deals with rising volumes of hazardous materials.
The authority yesterday issued a notification asking importers and clearing and forwarding agents to take delivery of their DG cargo or face a penalty set to come into force on 1 April, following growing concern that the growing amount of hazardous material could potentially lead to a Beirut-style catastrophe. Read more here (login required).

Tech solutions are plugging in to help ease widening congestion at global ports

theloadstar.com
As shipping’s port congestion crisis widens, tech-players are hoping to capitalise on calls for improved visibility across container supply chains.
SeaIntelligence’s Lars Jensen noted the lack of any real-time overview of global bottlenecks, as pockets of congestion spring up from Auckland to Singapore to Los Angeles.
“Instead, it is drip-wise in terms of each individual port,” he explained. “Sometimes you can only get the info from a carrier calling at the port/terminal, whereas the port provides no info. Other times it is the reverse, and at times it is neither.” Read more here (login required).

GROUND AND RAIL FREIGHT UPDATES

5 Wall Street impressions about proposed CP-KCS merger

freightwaves.com
The merger of CP and Kansas City Southern (KCS) would be combining two of the smallest Class I railroads. It would also be integrating two railroads that are striving to reach an operating ratio (OR) in the mid-50s. OR, represented in a percentage such as 55%, is a tool investors use to gauge the financial health of a company, with a lower OR implying improved financial health.  Read more here.