Newsletter – May 22, 2019

AIR FREIGHT UPDATES

Rival carriers eye key routes as India’s Jet Airways is declared bankrupt

theloadstar.com
A Dutch court has declared Jet Airways bankrupt as rival carriers pick over the bones of the routes left behind. Read more here.

OCEAN FREIGHT UPDATES

Yantian Express Finally Makes It to Its Halifax Destination

splash247.com
On May 20, four months after a severe blaze ripped through it, the Yantian Express boxship has finally reached its Canadian destination, delivering some of the containers that survived the fire. Read more here. 

Gloomier picture for global container port throughput as tariff wars begin to bite

theloadstar.com
Alphaliner has slashed its global container throughput growth estimate for this year to just 2.5% from 3.6%.
A weak first quarter and expected headwinds from the US-China trade war are taking their toll, said the consultant. Read more here. 

K Line top management take pay cut

splash247.com
With a new CEO in charge and a displeased investor base, top management at Kawasaki Kisen Kaisha (K Line) today revealed they will take a six-month 10% pay cut, effective from the start of last month. Read more here. 

CANADA BUSINESS – GOVERNMENT UPDATES

Canadian retaliatory tariffs lifted as U.S. kills steel aluminum penalties

ctvnews.ca
OTTAWA — Canada collected more than $1.27 billion from the retaliatory tariffs on U.S. products over the last year and all of it will go to the Canadian steel and aluminum industry even though the steel trade war with the United States is over. Read more here. 

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Shoe firms urge end to US-China trade war

aircargonews.net
In response to US President Donald Trump’s recent announcement that he would increase tariffs on $200bn worth of US-bound Chinese imports from 10% to 25%, some of the world’s major footwear companies have called for the trade war to end. Read more here.