Newsletter – May 11, 2022

AIR FREIGHT UPDATES

Cargolux resumes some Shanghai flights amid lockdown uncertainty

theloadstar.com
News that Toyota and Tesla have suspended production, owing to the continuing Shanghai lockdown, and fears that the Chinese government has hardened its stance, is forcing air cargo carriers to be extremely agile.
Cargolux has resumed some flights into Shanghai in the past two weeks, following government authorisation for some manufacturing to restart, but is offering few frequencies. Read more here (login required).

Supersonic Revival: Boom’s XB-1 Is Already 80% Through Pre-Flight Testing

simpleflying.com
It’s been around a year and a half since Boom unveiled its prototype supersonic demonstrator, the XB-1. Also known as the ‘Baby Boom’, this aircraft is designed to provide proof of concept for the technologies and materials planned for use on the full-size mass supersonic transport of the future, the Overture. Read more here.

OCEAN FREIGHT UPDATES

The Port of Montreal joins the Getting to Zero Coalition

port-montreal.com
The Port of Montreal is pleased to announce that it has joined the Getting to Zero Coalition. An alliance of more than 150 companies in the maritime, energy, infrastructure and finance sectors, the Getting to Zero Coalition is working to decarbonize the shipping industry by introducing zero-emission commercial ships and developing carbon-neutral bunkering solutions.  Read more here.

ONE and Evergreen launch cross-alliance slot-charter transpac deal

theloadstar.com
Slot charter and exchange agreements between carriers in rival alliances are increasing as container lines prioritise their search for capacity over the commercial risks of customer retention.
Moreover, container lines are favouring ‘used or not used’ corresponding capacity exchange agreements that dispense with rate setting, that could assist the slot charterer to gain market share from the slot donor line and avoid complex accounting that can cause lengthy contract disputes. Read more here (login required).

Port of Colombo resumes operations after 20-hour labour strike  

theloadstar.com
Operations at the port of Colombo resumed this afternoon following the end of a strike by port staff, which began yesterday following the resignation of Sri Lanka’s prime minister, Mahinda Rajapaksa, and severe political unrest.
Activities at the port have been severely disrupted over the past couple of months, owing to political and economic crises and the island nation has enforced a state of emergency. Read more here (login required).

INTERNATIONAL BUSINESS – GOVERNMENT   UPDATES

Growth in US manufacturing slows as economy loses momentum

theloadstar.com
The US economy is losing momentum as it struggles against headwinds.
The latest numbers on the manufacturing sector show a broad decline in momentum – although it remains in growth mode, unlike the economy overall. Read more here.